"MoneyToken" provides crypto-backed loans, stablecoin MTC and a decentralized exchange service. iCO LIVE.
Today there are more and more users who have cryptocurrency assets on their balances, this is due to the fact that over the last couple of leks, cryptocurrencies have become a very lucrative asset, and every knowledgeable person is trying to make some money for them.
But very often it happens that you need money right now, and you have to sell your crypto assets, because of an unforeseen situation, losing the opportunity to make a profit on the growth of a cryptocurrency. At such times, the MoneyToken project would be useful.
MoneyToken is a platform for lending that takes crypto assets as collateral, with its help you can not only get money in a difficult and unforeseen situation, but also leave your crypto assets with you, not selling them, but only leaving a security equivalent to the amount that you have taken.
Using the technology of smart contracts, the project removes unnecessary links from the chain, in the form of intermediaries, who always take some percentage of the transaction. And also, the process of lending itself will be accessible and understandable, both for the borrower and for the lender. The whole system is transparent to all users.
Advantages of using MoneyToken, in comparison with banks or pawnshops:
- Arranging and receiving a loan within a couple of minutes;
- There is no need to verify the identity and assets;
- The ability to keep a cryptocurrency;
- Transparency of the whole system as a whole;
- A simple and understandable assessment of the value of collateral.
The loan is considered repaid, in the event that the entire amount has been returned, or a part of the amount can be recovered by the fiat currencies, and some by the cryptozoologist.
At the moment, the platform offers its customers such credit terms:
0.2% per day for short-term loans from 5 to 90 days
10% per year for long-term loans from 6 months to 2 years
Over time, or with the emergence of direct competitors, the conditions will change.
After the platform is launched, only 2 currencies, BTC and ETH will be used, since these crypto assets are the most popular. The portfolio of accepted currencies will grow with the development of the project and its complete decentralization.
MTC is the project's cryptocurrency, which will be used as a loan issue. 1 MTC = 1 $, you can withdraw it to your stock purses, trade on other exchanges, you will also pay out a loan in this cryptocurrency. The platform will implement your own MTC exchanger for the dollar, through which you can easily withdraw your loan to Fiat. The team also promises that each user will be able to issue a debit card, in order to simplify the procedure for withdrawing money.
Initial Money Token (IMT) - the currency you can get by participating in the ICO project, the price of the token at the ICO stage is $ 0.005. This token allows you to use privileged conditions on the platform, get discounts on platform services, as well as the opportunity to become a lender. Issue of tokens after sales is not planned, and the possibility of obtaining tokens, except as a purchase on the ICO - is not possible.
Everything does not stand still and is constantly improving, for example, lending, which with the help of MoneyToken, is now possible and secured by crypts, which is like a very big step for me, and a very convenient tool that will be used by many miners and traders.
Thank you for reading my review!
21Dime https://bitcointalk.org/index.php?action=profile;u=1476729
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