MONEY TOKEN - A DECENTRALIZED PLATFORM WITH AN OUSTANDING LOANING STRATEGY

ijsera (34)in #blockchain • 6 years ago

There are times when getting a loan from our traditional banks for personal or business use becomes impossible ,it's much easier for banks to grant loans to finance firms with substantial collateral and a long track record, while the terms they offer are often very strict.

And as crypto investors, we naturally face the hoardles of life where we have to solve some personal issues that requires paying bills or buying stuffs while we struggle to protect our crypto investments for future profits.

As a crypto investor or hodler (holding Crypto coins for future profits) who has some pressing financial needs but you do not have fiat currencies to tackle these need(s) neither do you have the handy collateral requested by your traditional bank and then you come across a secured, genuine and transparent offer that accepts cryptocurrencies as collateral for a fiat loan, knowing you would be refunded your crypto-collateral after you completely repay the loan, what would be you reaction ? I believe you would jump in without thinking twice. This is what Money Token is all about, that is what it offers.

Money Token is a decentralized Financial Ecosystem which is focused on lending crypto investors fiat curriencies while accepting crypto assets as collateral.

Money Token comprises of:

I. Money Token lending platform

II. Decentralized exchange services and

III. Money Token own's stablecoin (MTC)

MoneyToken has an Artificial intelligence called Amanda within its platform. Amanda will provide automated loan operations within the platform.

WHAT ARE THE CHALLENGES

Money Token is operating with this slogan "hold onto your cryptocurrency and spend on necessary purchases at the same time"

The challenge Money Token discovered and which is very true as i have highlighted in my intro is, as we spend our crypto assests today to solve pressing issues, it prevents us (holders) from profiting from any future growth in our assets value as we know that crypto investments involves buying at dip and selling when it's high. And then the heavy questions; What if you need cash right now? What if some unexpected but very important bills show up? What if all you've got as collateral is your crypto assets?

No panic,MoneyToken got your back!

MONEY TOKEN SOLUTION IN STEPS

With MoneyToken platform , you can borrow liquid funds instantly, based on the current value of your cryptocurrency asset.

I. Firstly, you'll apply for a loan using your BTC/ETH as a collateral.

II. Secondly, you'll receive an agreed loan amount in a stable currency.

III. And lastly, after you repay the loan, you get your whole collateral back; even if it has increased in value multiple times. So simple and awesome!
MoneyToken provides liquid funds for your immediate needs aswell save your crypto position.

Beneficiaries of Money Token are; Miners, Exchange services, crypto holders, traders and investors, then ICOs.

READ BELOW TO KNOW HOW SECURED IS YOUR COLLATERAL

Firstly,know that the deal's conditions are captured in Ethereum-based contracts.
Secondly, You need to know that all Collateral funds are kept in a wallet protected by multi-signatures. Now to access the wallet, 3 out of 4 signatures are required, the first signature is
held by the borrower, the second by the lender, and the other two remain secured on the platform. Great move!
In future, Money Token will deploy Multichain-transactions and multi-chain smart-contracts making the system to become completely decentralized.

UNIQUE FEATURES OF MONEY TOKEN

The platform is built to accomodate small and large loans, from as low as $500 to as high as $1,000,000 and more.
Loans are backed by a collateral in 1:2 ratio which handles checks such as scoring or credits checks.
Unlike other p2p platforms, Money Token provides credit from one credit fund, this erases the collecting of credit portfolio. Money Token at the top!
Now I find this very key, loan approval takes just seconds and you get your funds almost instantaneously.
MoneyToken has made borrowing flexible, borrowers can apply for credit not only in fiat currencies but also in stablecoins, this is great when the credit funds are intended to make payments inside the cryptocurrency market.
By adopting the blockchain, MoneyToken services will be a guaranteed global service
MoneyToken is an ecosystem having it's own stablecoin and a decentralized exchange service.
MoneyToken currency or token plays a unique infrastructure role and also provide benefits to customers such as discounts on platform services.

TOKEN INFORMATION

MoneyToken has its token IMT ( Initial Money Token). IMT is a utility token having a total supply of 20.044 Billion IMT.

Importance of IMT;

I. Qualifies You to Borrow

II. You Enjoy 60% discount on platform fees as a qualified borrower.

III. Opportunity to become a creditor