MoneyToken - a Blockchain Project in the Field of a Loan for Bitcoin, Ether and Litecoin has Collected as a Result of ICO $ 37 Million
The British team of the MoneyToken project completed June 6, 2018 ICO to create a platform with an innovative solution in the field of lending. As a result of the initial distribution of coins, the team managed to attract more than $ 37 million, which exceeded the declared Soft Cap of $ 3 million.
The platform allows the user to receive a loan in a fiat currency, or tokens USDT, DAI and tokens of the MTC platform on the security of their funds in bitcoin, litecoin or ether. In this case, the user does not lose money on the volatility of the crypto currency, because the digital money remains in his wallet until the loan is repaid.
As a result, the client of the site does not need to withdraw the crypto currency and transfer it to fiat money, if they urgently need it.
This option is very convenient for entrepreneurs who work in the crypto industry.
Miners can purchase new equipment without withdrawing their crypto currency savings and transferring them to fiat money. Traders and investors keep their assets in their portfolios untouchable, while they get the opportunity to invest in promising projects and receive income. Start-ups that organize ICO will be able to quickly raise money for their tasks. Trading platforms will be able to receive funds and hedge risks.
The process of obtaining a loan is reduced to the fact that the user determines the required amount in a fiat currency, or coins USDT, DAI and MTC. Approval of the transaction platform takes place within a few minutes. After this, a smart contract is made between the platform and users, where the loan amount is specified, as well as the crediting period (from 9-20 days), digital coins (200% of the loan amount), which go as collateral, etc.
At the end of the loan term or ahead of schedule, the user extinguishes the loan, receives a guarantee deposit to his address of the chain. And money all this time remains on the user's wallet.
The project team includes specialists in the field of finitech, blockingchain technologies, strategic planning, computer security, experts in risk assessment and management, and business administration.
Co-founder and CTO of the project Alex Russ has been developing software for more than 15 years, engaged in strategic planning and marketing of IT projects, advises CoinDesk journalists in the field of cybersecurity and detachment, worked for many years in the US financial sector: Goldman Sachs, Prudential Financial, Bloomberg.
The project is supported by a number of well-known advisors from the industry's branch: Roger Ver (founder of Bitcoin.com, a blockchain evangelist, investor in Ripple, Вlockchain.info, Вitpay, Kraken) rendered invaluable assistance in the development of the MoneyToken project, as well as Mate Tokai (COO project Bitcoin. com), David Allen Cohen (founder of Dcntral, advisor to Hashgraph and a former member of the IOTA Foundation).
All operations on the platform and contact with the user will be carried out by Amanda - artificial intelligence.
This year the team plans to issue payment cards - an analogue of bank cards, thanks to which it will be possible to receive cash in dollars and quickly repay loans.
At the final stage, it is planned to create a decentralized crypto exchange MoneyToken, where one can effectively trade assets.