MoneyToken REVIEW

joppa (25)in #ico • 6 years ago

Introducing MoneyToken
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

What makes MoneyToken unique from other lending platforms?
The platform is tailored to give out both small and large loans, from $500 to $1,000,000 and more.
No scoring or credit checks, since loans are backed by a collateral in 1:2 ratio.
In MoneyToken, credits are given out from one credit fund, which makes collecting a credit portfolio unnecessary, as opposed to
the regular p2p platforms.
Loan approval takes seconds and funds can be released almost instantaneously.
MoneyToken allows to apply for a credit not only in fiat currencies, but also in stablecoins, which is convenient in case the client
plans to use the credit funds inside the cryptocurrency market.
MoneyTokens services will be available globally. MoneyToken is an ecosystem, with its own stablecoin and decentralized exchange service.
MoneyToken does not use token mechanics to charge additional costs or hide services charges; instead our token plays a unique infrastructure role, providing benefits to customers such as a discount on platform services

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 becomecompletely decentralized
Token Functions
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.
TOKEN INFO