Cryptocurrency is the currency used on the internet and popular at this time. Cryptocurrency exists only in digital form, does not have the physicality of money in the real world. However, Cryptocurrency has all the characteristics of traditional money. Just like the classic currency, we can get, transfer, or even exchange it with other currencies. With the development of the times, at this time, we can also use it to pay for goods and services and also to shop at online stores. Cryptocurrency also has no geographical or political boundaries. Transactions can be done anywhere and anytime.
The emergence of Blockchain technology is a driving force for the development of digital assets. Cryptocurrency uses Blockchain and ledgers that are certainly decentralized. Cryptocurrency uses cryptography and how to make it safe. The system used will create and analyze algorithms and protocols. This prevents no information being changed or interrupted while connected by a third party. The transaction is recorded in the Ledge Blockchain owned by all network nodes. So once a transaction is validated by the network, it will not change anything in the transaction record so it is safe.
By looking at the potential of Cryptocurrency and supported by Blockchain technology, there is a MoneyToken project that provides an outstanding offer, changing the face of financial services. With MoneyToken, Cryptocurrency can have characteristics of the classic currency such as can be used as loan. MoneyToken aims to facilitate access to credit while building a new credit market – loans backed by crypto collateral, based on the security and transparency of blockchain technology. MoneyToken provides crypto-backed loans, MTC stablecoin and a decentralized exchange service. With MoneyToken, there’s no reason to sell your BTC when you need cash or stable currency. That’s why, everyone should take part in MoneyToken, Platform for Smart Loans Backed by Crypto-Assets.
What is MoneyToken?
It only takes a brief look at the cryptocurrency market capitalization charts over the course of the past year to see that the majority of these currencies — Bitcoin, Ethereum, Litecoin, Monero and other major cryptocurrencies — show significant growth in value and are expected to see significant growth in the future, reflecting both a loss of faith in traditional money systems and a growing confidence in the power of blockchain technology.
The solution is a credit model in which volatile crypto-assets act as collateral while credit is granted in a stable currency. This system allows borrowers to gain profits from their assets as the market rises, while reducing risk to credit providers and borrowers if the market falls.
Platforms that attempt to intermediate cryptocurrency-backed loans between individual lenders and borrowers usually fail to provide the service of proper risk management to their clients; price volatility of the collateral creates a burdensome risk to both the borrower and lender. At the other end of the spectrum, most established lending channels are unwilling to accept volatile assets such as cryptocurrency as collateral at all.
MoneyToken aims to resolve these issues, managing clients’ risks and creating a stable lending model using cryptocurrencies as a security deposit. Our model aims to facilitate access to credit while building a new credit market – loans backed by crypto collateral, based on the security and transparency of blockchain technology. MoneyToken provides crypto-backed loans, MTC stablecoin and a decentralized exchange service. With MoneyToken, there’s no reason to sell your BTC when you need cash or stable currency. While the blockchain technology allows for getting rid of all the intermediaries in the loan system, automatic control of risks is a primary advantage of the MoneyToken platform.
What problem does MoneyToken solve?
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.
Lending Model of MoneyToken
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.
Interest rates for this type of loan can be settled using the collateral value or paid in crypto- or fiat currency, in which case the security deposit will be returned immediately after the settlement.
Who is the platform for?
- Miners – Avoid cash flow issues or invest in more equipment, without losing your existing mined cryptocurrency
- Traders and investors – Hold on to your cryptocurrency investment portfolio and use leverage to make further investments or increase your liquidity
- ICOs – Quickly access cash, without all the red tape, for short term business needs
- Exchanges – Meet extra cash needs while hedging exchange risks and leveraging your crypto assets
Behind MoneyToken is Amanda. Amanda is an Artificial Intelligence Assistant who will provide automated loan operations within the platform.
Amanda is powered by a deep learning AI algorithm, and her goal is to provide human-like services for the platform users. Besides functioning as a loan assistant, Amanda acts as a true AI, analyzing clients activity on the platform from their first steps, through to loan completion in order to generate predicative actions; for example being able to offer additional financial services, tracking collateral performance, monitoring loan repayments and due dates – all the functions required within an ecosystem that is not managed by any central authority.
Amanda helps remove the need for middlemen and managers, hidden commissions and fees, and obscure terms written in the ‘small print’ of contracts; all the bad practices of traditional banking.
Initial Money Token (IMT)
The solution that we have developed to minimize the risks, both for the platform itself and its users – a token with a specific functionality. IMT tokens can be purchased during the Token sale for $0,005. After the Token sale IMTs will be available for purchase in Retail Sale. The Retail price of IMT inside our platform will be $0,05, it is 10 times higher than the token sale price, it will be increasing over time and never lower than the token sale price. The funds received from the Retail sales of IMT will be transferred to the MoneyToken safety fund to protect lenders interests.
- 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.
- The supply of IMT is limited
- Additional mining is prohibited
IMT tokens can be purchased during the Token sale for $0,005. After the Token sale IMTs will be available for purchase in Retail Sale. The Retail price of IMT inside our platform will be $0,05, it is 10 times higher than the token sale price, it will be increasing over time and never lower than the token sale price. The funds received from the Retail sales of IMT will be transferred to the MoneyToken safety fund to protect lenders interests.
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ETH Address: 0xa38370065430E1c101A339f0c779D52685c754D7