Hello everyone, in this new dipostingan I want to introduce about Moneytoken project, and for more details let's just go to the following discussion:
MoneyToken - a blockchain-based financial ecosystem
MoneyToken - A Blockchain based Financial Ecosystem focused on cryptocurrency-backed lending and crypto assets leveraging
The main idea of MoneyToken that an innovative economic model allows you to hold onto your cryptocurrency and spend cash at the same time.
MoneyToken consists of:
- MoneyToken lending platform that provides loans in fiat currencies or stablecoin, secured by collateral in BTC and ETH;
- MTC - MoneyToken’s own stablecoin;
- MoneyToken decentralized Exchange service.
What problem does MoneyToken solve?
MoneyToken has an innovative concept for some time; hold onto your cryptocurrency and spend it at the same time.
The problem has been obvious - spending crypto assets today prevents cryptocurrency holders from gaining on any future growth in asset value; investors who buy low need to hold on to their assets in order to benefit from selling high. It's a market where everyone is hodling.
But what if you need cash right now? Bills to pay? Equipment to buy?
This is where MoneyToken steps in.
The MoneyToken platform allows you to borrow liquid funds instantly, based on the current value of your cryptocurrency asset holdings.You take out a loan, using your BTC/ETH as a collateral.
In return you receive an agreed loan amount in a stable currency.
And after repaying the loan you receive your whole collateral back; even if the collateral has increased in value multiple times.
With MoneyToken you're able to acquire liquid funds for immediate needs, and save your crypto position, all at the same time.
Who might benefit from our services?
Miners Exchange services Crypto holders, traders and investors ICOs
How does it work?
How secure is the collateral?
The deal`s conditions are captured in Ethereum-based contracts.
Collateral funds are kept in a wallet, protected by a multi-signature. To access the wallet, ¾ signatures are required. First one of them belongs to the borrower, second – to the lender, and the other 2 – to the platform.
Multichain-transactions and multichain smart-contracts will be available in the future, which would allow MoneyToken to become completely decentralized.
- Loan term: from 3 to 90 days (long-term loans will also be available)
- Loan amount: from $500 to $1,000,000 (USD or equivalent)
- Rate of Interest: from 0,2% to 0,5% a day (or 10-15% APR )
- USD and other fiat currencies
- USDT Tether
- Decentralized DAI stablecoin
- MTC MoneyToken
- Altcoins (after review)
- Selected ICO tokens
- (after review and approval)
Rate of interest and loan conditions may change in the future and will depend on the current situation on the cryptocurrency market, crediting conditions on the platform`s competitors and more. Fiat currencies will be implemented on the MoneyToken platform in accordance with obtaining all necessary licenses and the Roadmap.
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 creditor when depositing IMT for Lender Membership
Participation in decentralized voting.
Behind MoneyToken is Amanda. Amanda is an Artificial Intelligence Assistant who will provide automated loan operations on the platform.
Besides the assistant function, Amanda acts as a true AI, analyzing the client by their first steps on the platform to make conclusions and o er them extra financial services that will most likely interest them, she also helps with tracking collateral, repaying the loan, just like a real bank manager would, but all based on data.
Amanda is powered by a deep learning AI algorithm, and her goal is to provide human-like services for the platform users. This assistant will change the way people think about banking. No more shady managers, hidden commissions, “small fonts” in contracts, and troubles with transaction support.
To contribute and Know the progress of this offer, you may visit some of the following Links:
The bitcointalk name: Aray80