Many Internet users who invest part of their savings or entirely in cryptocurrencies – often have a problem – that when funds are urgently needed back, there are also financial difficulties... then user of the system should simply do reverse actions that lead to losses: this includes - exchange of digital currency back to fiat money.
What is MoneyToken project?
MoneyToken is such platform which provides users with opportunity of obtaining credits, with aim of preserving their own cryptocurrency. The platform, like many others, is based on Ethereum blockchain technologies. This technology already proved its trustability.
Users will be able to get a fiat loan – secured by their assets on cryptocurrency account.
How does MoneyToken project work?
Work in the system is carried out by protected cyber protocols – smart contracts. These smart contracts are a guarantee that your credit will be fully repaid. Transactions will be carried out through multi-keys. One loan will be allocated four keys - one will be the borrower, second - the lender, other two - will be given to the agents Escrow.
ICO platform works with cryptocurrencies: BTC, ETH and others. To make the risk of fraud close to 0, you will need to provide 3 of 4 keys. Fiat loan can be withdrawn from the system, it can be repaid in full or ahead of time, or in stages. Loan can be extended on the last day. loan is exposed to Stop Loss – in this case, if rate falls very much - the collateral is used to repay the loan.
Advantages
MoneyToken platform has many advantages in contrast to traditional banking systems or pawn shops. Differences are as follows:
- Loan is confirmed in automatic mode, approval occurs within minutes or even seconds.
- No credit history check.
- The client can regulate terms of lending within the project.
- Deposit can be secured in several types of cryptocurrencies that are accepted by system.
- Transparency of operations is guaranteed.
- Asset valuation is transparent, value changes occur over time.
- Platform has artificial intelligence - Amanda. It helps the client in issuing, tracking collateral, in fact, this robot replaces Manager of a traditional bank. Amanda makes proposals to the borrower which may be of interest to him.
Information about ICO
More information about the token sale can be found at this link
Token for this project is called IMT
Reference mark is established at level 0,005$.
The system will start on July 02, 2018.
Currency accepted by the project: BTC, LTC, ETH or BCH.
Minimum investment collection plan = $3 000 000
The maximum fee plan is = $35 000 000
The total number of tokens is: 20 044 000 000
The distribution of project tokens is as follows:
- 420 million to investors
- 1.3 billion - pre sale
- 7.3 billion - token sale
- 8.018 billion - goes to the reserve Fund
- 2,004 billion - distributed inside the team
- 401 million - distributed among the team's partners
- 401 million - partners of the team - sponsors
- 200 million tokens goes to bounty campaign
You can read more about team on official website of the project. However, the team consists of professionals in the field of SEO, development of blockchain technologies, software development. In General, project brings together strongest professionals. This clearly lead to the positive result of the project.
Conclusion
This project will replace the traditional lending system in banks, hence, use of crypto-money will be much easier.
Also, their withdrawal and exchange, and possibility of lending in the system itself – will provide users with pleasant receipt of assets useful – if money was needed urgently.
Website: https://moneytoken.com
Whitepaper: https://moneytoken.com/doc/MoneyTokenWP_ENG.pdf
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