The Token distribution update; the exchange announcement; KYC updates

Money Token
Jul 5, 2018 · 7 min read
Results of token distribution polls

Latest updates

The token sale is finished but the team still continue to work hard on enhancing and improving MoneyToken!

  • Additional new Memberships levels are on their way soon; 0% loan Promo Memberships are FREE for our token sale participants before the listing;
  • More than 3,000 unfair bounty participants have been restricted as a result of cooperative action between MoneyToken and the auditor from bitcointalk.org;
  • The KYC approval process is being renewed from today

TOP exchanges and medium exchanges comparison

Why is IMT already listed at some exchanges ?

We have identified that IMTs have been listed by several medium and small exchanges even before the start of withdrawal process of IMT tokens from the platform.

Which risks does it bring to IMT holders?

  • the trading volume of these exchanges is lower than the amount of funds collected during the MoneyToken token sale
  • the quantity of exchange users is much lower than the quantity of IMT holders (at ~50,000)

Why is distributing tokens at the same time as hitting TOP exchanges better than distributing right now?

Large exchanges have billion dollars of trading volumes and a very large audience of real traders who could buy IMT tokens from token sale participants. The risk of low price sell-offs and dumping behaviour is much lower with the major exchanges.

FAQ

Is it secure to hold IMT tokens on the platform account? Are there any risks that the platform will be hacked and IMT tokens will be stolen from my balance?

All IMT tokens are stored securely at cold addresses. Private key stores have never been connected with the network and there is no opportunity that hackers could access this data.

How long could listing on the TOP Exchanges take?

The team is in negotiations with TOP exchanges already and will make every effort to deliver the results to the community as soon as it is possible.

  1. Completing and passing all due diligence activities.
  2. Undergoing a Smart Contract audit.
  3. Undergoing an audit of our business model and the token sale.
  4. Completing agreement documents.
  5. Technical integration of our token to the exchange.
  6. Testing and Security checks.
  7. Official announcement of the listing.

What can I do with my IMT tokens while they are locked up in my account?

Since IMT is a utility token and the platform is launched you can already use the available functions of your IMT tokens within the platform;

  • Purchase MoneyToken Membership to access our zero interest rate loan features

Why have more than 62% of bounty participants been rejected ? Does it mean that MoneyToken is being unfair to people who helped to spread the word about MoneyToken?

An independent auditor was invited to conduct the audit of the MoneyToken bounty program. The auditor team consist of members of the DT community, who are among the most active and long standing members of the bitcointalk.com community.

I am a fair participant, I am not an account farmer, spammer, any other rules violator, but I didn’t pass the audit. What should I do?

If you are a fair bounty hunter, but you didn’t pass the audit due to some misunderstanding by the auditor, MoneyToken promises that we will review your case and if your appeal is successful, we will ensure that you will receive your IMT tokens.

  1. The deadline for appeals is 6th July
  2. Bounty Hunters who miss the appeal deadline will lose their opportunity to appeal.
  3. After 7th July all appeals will be reviewed. You will receive a notification about the status of your appeal by the 15th July.
  4. If your appeal is confirmed you will be able to find your ETH address and the amount of IMT reward at the updated the IMT distribution whitelist on the 16th July.
  5. You will receive your IMT tokens on your balance at account.moneytoken.com on the 18th July.

Why do users need to pass KYC?

MoneyToken is in the process of establishing strategic partnerships with other platforms and systems to support fiat currency loans, and are obtaining financial licences in several jurisdictions to get MoneyToken access into the fiat world.

Does the distribution delay mean that MoneyToken is scam?

MoneyToken is not a scam and never will be.

  • KYC was implemented to allow MoneyToken to get new partnerships with fiat companies to enable fiat loans anywhere in the world;
  • IMT were distributed to users’ accounts to allow users to use IMT utilities within the platform right now;
  • Zero interest rate membership was implemented to allow users to try out the platform and understand better how cryptocurrency-backed loans work.

    Money Token

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    https://moneytoken.com/

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