Minggu, 13 Mei 2018
Since the emergence of cryptocurrencies, the behaviour of users, owners and miners has proved to be very different than what was expected. Rather than turning into true ‘virtual coinage systems’ used to buy goods and services on a day-to-day basis (from your morning latte to houses and cars), Bitcoin and other cryptocurrencies have turned into long-term investments; from something you keep in your
wallet into something you store in your safe.
Nobody now would suggest buying pizza with Bitcoins as happened back on May 22nd, 2010 (Bitcoin Pizza Day) when a developer bought 2 Papa John’s pizzas with 10,000 units of BTC. "It wasn't like Bitcoins had any value back then, so the idea of trading them for a pizza was incredibly cool," Hanyecz told The New York Times in 2013.
The problem has been obvious for some time - spending crypto assets today prevents cryptocurrency holders from gaining on any future growth in asset value; holders who buy low need to hold on to their investments in order to benefit from selling high.
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, collateralized with more volatile assets such as Bitcoin or Ethereum - and 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.
This way, you're able to acquire liquid funds for immediate needs, and save your crypto position, all at the same time
Vision
- Investment assets are volatile and compelling for the long term, made to earn on the difference between rates of exchange or getting other types of earnings, such as from proof-of-stake algorithms, rate in interest and so on.
- Payment cryptocurrencies are created to support the stability of the rate of exchange – they usually are embedded with a self-regulation mechanism, a unique algorithm to regulate the difficulty of mining or the release of new coins.
Lending Model
MoneyToken’s lending model uses fluctuating crypto-assets as collateral for a loan provided in fiat currency or stablecoin
The list of the advantages of this model versus traditional banking or pawnbrokers’ schemes:
- Automatic confirmation of the loan within seconds or minutes.
- No requirement for credit scoring or verification of assets.
- The customer regulates the loan conditions on their own within the confines of the platform’s terms.
- An option to deposit the collateral in several cryptocurrency assets in order to stabilize the general fluctuation
- of the collateral and lower any upward pressure on interest rates.
- Transparency of the operation during both transfer and retention of the security deposit.
- Transparency of collateral evaluation and the fluctuation of its value over time for both parties.
Behind MoneyToken is Amanda
Amanda is an Artificial Intelligence Assistant who will provide automated loan operations on the platform. Besides the assistant function, Amanda acts as a true AI, analyzing the client by their first steps on the platform to make conclusions and o er them extra financial services that will most likely interest them, she also helps with tracking collateral, repaying the loan, just like a real bank manager would, but all based on data.
Amanda is powered by a deep learning AI algorithm, and her goal is to provide human-like services for the platform users. This assistant will change the way people think about banking. No more shady managers, hidden commissions, “small fonts” in contracts, and troubles with transaction support
Technical Description of the Platform
- MoneyToken will use Ethereum-based smart contracts to secure the terms of the agreement.
- Collateral funds will be deposited in protected multi-signature wallets requiring 3/4 signatures to access. One
- signature is owned by the borrower at all times, one owned by the lender, 3rd and 4th are owned by the
- MoneyToken arbitration service.
- Multichain transactions and contracts will be available in the future, making MoneyToken a fully decentralized
- platform.
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| https://moneytoken.com/ |
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| https://moneytoken.com/doc/MoneyTokenWP_ENG.pdf |
MoneyToken Ecosystem
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 lender when depositing IMT for Lender Membership.
IMT’s properties
- The supply of IMT is limited
- Additional mining is prohibited
For Information
Website: https://moneytoken.com/
Whitepaper: https://moneytoken.com/doc/MoneyTokenWP_ENG.pdf
Abstract: https://moneytoken.com/doc/Abstract.pdf
Telegram: https://t.me/moneytoken
Medium: https://medium.com/@moneytoken
Twitter: https://twitter.com/MoneyToken
YouTube: https://www.youtube.com/channel/UCz9r7r5BSoq4eE6guMa7P-w
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