MONIFIC | Value behind the token
MONIFIC, the swiss start-up set to launch the Europe’s first security token exchange has engineered a seemingly unique token. MONIFIC is a hybrid payment & utility token running on the Ethereum blockchain, subject to the ERC20 token standard. MONIFIC was generated at the end of MONIFIC’s token sale in March 2019. The total supply of MONIFIC is 200'000'000 of which only 10'034'003 are in circulation. MONIFIC is currently traded on Uniswap with listing on further exchanges coming up in the next months.
With the mission to democratize access to wealth for all, MONIFIC is creating a circular token economy to enable each party involved to benefit from the ownership of MONIFIC. Below are listed the primary functions of their native cryptocurrency:
Payment
Any user can choose to pay for services on the MONIFIC Platform, such as listing fees, transaction fees, custody fees in MONIFIC. In this case the user pays 30% less fees during the first year and 20–10% less during the following years. This creates an incentive for investors to purchase MONIFIC to pay for usage of the platform.
Membership stake
The smart contract functionality of MONIFIC was audited and approved by ChainSecurity, along with staking mechanisms for the MONIFIC Platform. Staking on the platform is available threefold:
* Prime Investor Stake: 1'000
* Prime Institutional Investors Stake: 10'000
* Partner Stake: 100'000
* Prime Partner Stake: 200'000
* Contributor Stake: 250
* Service Partner Stake: 10'000
Bridge currency for trading
MONIFIC will be one of the bridge currencies listed on the MONIFIC Platform and as such will help to improve liquidity across tokenized assets. The use of a bridge currency is incentivised by the reduced transaction fees.
Survey participation and voting
In order to ensure the further development of the platform is in line with its members interests, regular surveys and voting polls are conducted. Holding MONIFIC will guarantee participation. Depending on the type of vote, the participant’s quantity of MONIFIC will be used in weighing the results.
Loyalty & Reward programs
Rewards are offered to active contributors of the platform. There are various programs for the different stakeholder groups, e.g. rewards for active investors, paybacks for asset issuers, rewards for contributors of work. Membership status is needed to access most of the reward programs.
All these features, and more to be added on a continual basis, the use cases for MONIFIC are endless. The potential of cryptocurrencies and the exchanges that host them go far beyond what we can imagine today. According to the World Economic Forum, in 5 years 10% of the global GDP will be stored on the blockchain resulting in some $10–12tn tokenized assets. The first wave of tokenization came in the form of payment tokens i.e. cryptocurrencies, the second — in utility tokens and now the fast approaching third upsurge will be security tokens. Are you ready?
