MPCX is designed to cater to individual’s wealth management needs, and entities alike. Here is everything you need to know about it.
MPCX; Digital Wealth Management Platform.
Cryptocurrencies have changed many lives in different ways. It has made it possible for enthusiasts to pay their rent, receive bonuses and trade goods and services using cryptocurrency. At the end of it all, these folks usually count their digital wealth in terms of Bitcoin or Ethereum.
However, there are some problems experienced by these investors include an absence of transparent and high quality digital service and slow adoption of cryptocurrency by other people. Other problems experienced by crypto assets investors include,
• The reluctance of financial institutions to work with cryptocurrencies
• Long verification process when creating a cryptocurrency exchange account
• Investor’s lack of knowledge
• Slow digitalization of the financial sector
These problems are why MPCX was created. This platform proposes a solution to all the issued outlined above.
What is MPCX, you ask?
This is a digital financial service that is driven by Blockchain. The goal of this platform is simple, to aggregate all crypto-financial services into one spot for easy access. As such, MPCX is designed to cater to individual’s wealth management needs, and entities alike.
The platform also covers cryptocurrency exchange, trading, crypto research, digital banking, crypto lending and ICO promotion.
However, all these things cannot be achieved overnight. So, the short-term aim is to create a Blockchain driven decentralized ecosystem that is expected to manage the crypto asset portfolios of innovative investors.
There is a huge demand for financial management solutions, but very limited supply. This is why MPCX was created, to solve this problem.
According to the whitepaper, the platform will be developed in three stages. These include;
- Digital Wealth Platform
- Cryptocurrency Exchange
- Digital Banking and Regulated Wealth Management
The development of the first stage started back in January 2017 and is expected to be completed at the last month of 2018, when the second stage will take off. The development of cryptocurrency exchange is expected to end at November 2019.
At the last month of 2019, the development of the final stage is expected to take off. According to the whitepaper, this stage is supposed to last seven months, ending July 2020.
How MPCX Works
On completion of the development of these three platforms, MPCX will offer the services outlined below;
Digital Wealth Management Services
This is the first service provided by the platform. Experienced and new investors alike will have access to a top notch digital wealth management services. The management services are expected to offer users the ability to monitor their portfolio.
As such, there is a cryptocurrency wallet solution to help keep their digital wealth safe.
Unique Crypto Products
The platform intends to offer users access to some cryptocurrency product for an easier and informed trading experience. These products include; an investable crypto index, peer to peer crypto lending strategies, Digital Smart Investment Mandate, AI crypto funds and Crypto ETNs.
Cryptocurrency Exchange
The platform will also offer the service of a cryptocurrency exchange, where users will be able to buy and sell crypto assets. Only the top 100 cryptocurrencies are expected to be listed at the beginning.
In addition to this, the platform is expected to offer payments and banking solutions, especially for the beginners. Also, experienced traders will have access to ICO analytics to make an informed decision during token sales.
All the services described above are expected to be driven by Blockchain technology. And since we are talking about Ethereum Blockchain, you can tell that the services depend on smart contracts.
Why Launch an Initial Coin Offering?
The team behind MPCX intend to raise the fund necessary to see this project through by launching an ICO. Blockchain enthusiast and other members of the cryptocurrency community will be offered the opportunity to fund the development of the MPCX platform by purchasing XDMC tokens.
These tokens will enable users have access to services on the platform. Basically the economy of MPCX will depend on the XDMC tokens.
The Initial Coin Offering
The ICO is expected to have multiple stages, which begins with the pre ICO round on the 7th of May 2018 and ends on the 17th of June 2018. The XDMC tokens will be made available on the Waves Platform during the Pre ICO.
Before the end of the first ICO round, all Wave based tokens are expected to be replaced with the Ethereum based XDMC token.
All sales will cease when the Pre ICO hard cap is reached.
The XDMC Token
The XDMC token is supposed to be a utility tool which allows users access to the services provided on the MPCX platform. As the platform user’s increases, so will the adoption of the XDMC token. This means, users will eventually be able to use this utility token for the banking services provided on the platform.
Aside from serving as a method of payment for services offered on the platform, this token is also supposed to become way of rewarding users who popularize and increase the number of MPCX users.
In addition to this, there is also a reward system for the community which involves allocating half of the platform’s returns to a systematic buyback program of the tokens. While some of the tokens that were bought back will be subject to a three months selling restriction, the rest will be burned.
This is a way of organically decreasing the supply of the XDMC tokens.
XDMC Token Sale Structure
As you may have noticed the name and ticker of the token is XDMC. With a total supply of 999,950,416, this utility token is expected to have a fixed supply. The minimum investment is expected to be 0.10 ETH. So, how much is this token expected to cost?
According to the whitepaper, the token will be exchanged at 31,000 XDMC per ETH during the pre ICO special. However, after the ICO events, the token is expected to cost 4,277 per ETH.
Token Distribution
According to the whitepaper, 60 percent of the total token supply is expected to be used for the Initial Coin Offering event. This include the pre ICO and the main event. The team behind the platform and the advisers are expected to receive 20 percent of the token.
Sixteen percent of the total XDMC token will be reserved for the future development of the platform and a final 4 percent will be used for bounty services.
Use of the Pre ICO Proceeds
Forty-nine percent of the fund raised during the pre ICO event will be used for marketing, while nine percent will be used to settle legal fees and salaries. The developers will receive 22 percent of the proceeds and the final 20 percent is supposed to go to MVP.
Source
Website: https://mpcx.co/
Whitepaper: https://drive.google.com/file/d/1jZZA-EtZz0O02sOG8w-vcZdX93GtJXJ-/view?usp=sharing
Ann Thread:
Twitter: https://twitter.com/MPCXPlatform
Facebook: https://fb.me/MPCXPlatform
Instagram: https://www.instagram.com/mpcxplatform/
Linkedin: https://www.linkedin.com/company/mpcx-digital-wealth-management-platform/
Youtube: https://www.youtube.com/channel/UCJrgPLexmtA4hA6ux5GTpQQ/
Telegram: https://t.me/joinchat/HKzpNxMFbX0HYo9-BScO6A
Authored by: gbenga88
Bitcointalk URL: https://bitcointalk.org/index.php?action=profile;u=1874687
Eth Address: 0xdcef7d27bbaae609accdaf43ccf41b042beaffb4