CRYPTOCURRENCY BACKED LOAN PLATFORM
WHAT IS MONEYTOKEN?
MoneyToken Platform for Intelligent Loans Supported by Crypto-Assets. The MoneyToken lending work model uses the fluctuating crypto assets as a guarantee for promotions provided in fiat or stablecoin currency. MoneyToken will use a smart contract based on Ethereum to secure and understand understanding requirements. Collateral funds will be kept in a protected multi-toe wallet and require 3/4 signatures to access. One signature is owned by the lender, third and most owned by the MoneyToken arbitration service. Multichain and contract deals will be available in the future, making MoneyToken a completely decentralized platform. The credit fund governs and affects the maximum loan amount that the platform can provide. After the Token Sales phase, the MoneyToken loan portfolio will cover a total of $ 20 + million and continue to grow through contributions from early and late stage partners as the platform evolves and scales. The MoneyToken lending platform that provides loans in fiat or stablecoin currency, is secured by bail at BTC and ETH; MTC – MoneyToken’s stablecoin; MoneyToken decentralized exchange service.
WHAT PROBLEM DOES MONEYTOKEN SOLVE?
The problem has been obvious for sometime 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.
INTRODUCING AMANDA
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.
MoneyToken: changing the face of financial services.
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
FEATURES
- MoneyToken uses a smart contract based on Ethereal to secure the terms of the agreement.
- Collateral funds will be kept in a protected multi-toe wallet and require 3/4 signatures to access.
- One signature is owned by the borrower at any time, owned by the lender, third and fourth owned by the MoneyToken arbitration service.
- Multichain and contract deals will be available in the future, making MoneyToken a fully decentralized platform.
Credit Flow
- The borrower can withdraw the loan currency from the system to use.
- The borrower can pay off the loan prematurely.
- The borrower may be able to partially refund the loan ahead of schedule.
- On the last day of the loan, the borrower may have the opportunity to extend the loan by making additional deposits.
Payment of Loans and Refund of Warranty
- After the loan is repaid, the user returns the security deposit to his blockchain address.
ROADMAP
February 2017
- Concept Development Formation of the team
June 2017
- Platform Development underway
November 2017
- International Patent filling to protect the IP of the platform
December 2017
- Official announcement of the platform
February 2018
- Private Sale Round
March 2018
- Presale Round
Quarter 1, 2018
- Stablecoin as a loan currency Bitcoin and Ether as a collateral Repayment to Collateral Ratio selection Loan repayment using collateral Loan term extension options Early repayment options Amanda operating as loan assistant
May 2018
- Token Sale Round
Quarter 4, 2018
- Options to become a lender, depositing IMTs Multi-currency collateral Exchange service MoneyToken Payment Card Referral program MoneyToken lending API for external platforms: exchanges, wallets, mass media
Quarter 2, 2019
- Adding more popular stable coins as credit currencies Obtain financial licences and begin integration of fiat currencies as credit currencies Adding successful ITO tokens with working products as collateral\ MoneyToken Mobile App Amanda as SaaS (Software as a Service) for other financial services
Quarter 4, 2019
- MoneyToken decentralized exchange launch Decentralized decision making system Atomic swaps and multi chain transactions, smart-contract deals
MORE INFORMATION VISIT THE MONEY TOKEN LINK:
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
Facebook : https://www.facebook.com/MoneyTokenOfficial/
Bitcointalk profile: https://bitcointalk.org/index.php?action=profile;u=1350925
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