Money Token: New, Unique and Smart Economy on Blockchain
It is not a secret that from 2009 we are moving towards completely transparent and decentralized digital economy. Of course it will be achieved not quickly and requires a lot of time and efforts, but the first steps are already done. It is done by a lot of people and projects that are already exist or still on developing or planning stage and by even more people who support them and their ideas. I will remind you that relying to the coinmarketcap.com we already have more than 1500 different cryptocurrencies and tokens. But the main is that we have the idea in our brains which is growing and trying to break out, and that we realize that it is needed for our today's life, and of course, that we have an opportunity to do this, the opportunity which Bitcoin and Blockchain technology gave us...
And below i will try to tell you about one of the most interesting and useful today's projects which aims to help a lot of crypto market members, it names the MoneyToken — a new blockchain-based financial ecosystem.
MoneyToken is a bright example of the real use of blockchain technology, as well as offering a massive boost for crypto market liquidity for all market players, and especially for businesses.
- Roger Ver, Founder of bitcoin.com, advisor at MoneyToken.
With that words and with clearly understanding of blockchain benefits for our world and lives Roger Ver joined the MoneyToken advisory board and helps to bring it's ideas to our lives.
So let me clarify for you what the MoneyToken is and how it will work.
MoneyToken is a completely new and unique, global, blockchain based, financial ecosystem with focus on cryptocurrency-backed lending and crypto assets leveraging, that will have its own stable coin (MTC) and own decentralized exchange in its ecosystem, where the loans approval will take only a couple of seconds, thanks to Amanda - artificial Intelligence assistant who will provide automated loan operations on the platform.
Sounds really inspiring, doesn't it? For me, yes. Because i perceive such projects like another one step to the side of new, transparent and decentralized economy without terrible bureaucracy and corrupt practices.
The main purpose of project is to create an innovative economic model that will allow us to hold onto our cryptocurrency and spend cash at the same time. It means that we are taking a loan using our crypto currency as a collateral, and receiving fiat money in any currency what we need. After that, if we already do not need a fiat currency, we can return it back by paying out the loan and get back our cryptocurrencies, the same amount which we used to get a loan. An it doesn't matter if that currency grown up at any amount of percents or fell in price while we used fiat money. Fair? i think yes, especially if we remember that cryptocurrencies were grown all time before. And of course, all interactions between all platform members are available through smart-contracts and after that are recorded to the blockchain ledger.
Who can use the platform?
- Miners (it may be loans for solving business needs or preserving the investment position in the crypto currency);
- Exchange services (risk hedging or fast cash getting);
- Crypto holders, traders and investors (preservation of the cryptocurrency portfolio and obtaining credit funds for investing in other projects in the same time);
- ICO's (fast and easy receipt of settlement currency for solving urgent business needs for the development of the project or for paying salaries, etc. );
General information about loan terms, currencies and collateral currencies can be found on the image bellow and also more detailed information you can find in the project's whitepaper, all needed links i will provide below this article.
The MoneyToken project's ICO is running right now and the token holders will have the next benefits while using the platform:
- Privileged terms for platform users when depositing IMT to receive Borrower Membership.
- Up to 60% discount on the platform fees for Borrower Membership. When using the discount from the user’s balance, the equivalent of 50% of the discount in USD is charged in IMT tokens.
- The opportunity to become a lender when depositing IMT for Lender Membership.
- Participation in decentralized voting.
A couple words about ICO and token metrics.
Token ticker: IMT
Token type: ERC20
Token sale price: $0.005
Retail sale price: $0.05
Accepted currencies: ETH/BTC/BCH/LTC/XEM
Whitelist: Yes
Token issue: within 10 days after the end of the main sale stage
Max. emission of tokens: 20.044 Billion
Token sale (main sale stage) time line: May 02 - Jun 06 2018
Soft cap (main sale stage): $3MM
Hard cap (main sale stage): $35MM
Retail sale: Jun 07
Bonuses (main sale stage): 20% - 0%
Distribution scheme.
Private Sale: 2.1% (0.420 Billion);
PreSale: 6.49% (1.300 Billion);
Token Sale: 36.42% (7.300 Billion);
Reserve fund: 40% (8.018 Billion);
Team: 10% (2.004 Billion);
Advisors: 2% (0.401 Billion);
Reserve for partnerships: 2% (0.401 Billion);
Bounty: 1% (0.200 Billion).
Useful and mandatory links to study the project:
My bitcointalk username: NakiRR