We are proud to announce that NEO Global Capital invested in Splyse by purchasing a block of MCT Tokens utilizing a completely new approach with our MCT smart contract. NGC is supporting both the long term viability and diversity of use cases for MCT and the token’s supporting role in the NEO ecosystem. And here’s the catch, there is a condition hard-coded into the smart contract that holds the tokens for one year.
Our Dev team is even more excited about the way in which the smart contract was deployed. We were able to do the following using MCT:
- Support a written agreement between two parties with a trustless smart contract hard-coded to release the purchased token block at a set date 12 months from now.
- The smart contract holds the token block in a safe storage capacity for the purchaser and for everyone to see on the blockchain.
- A sale clause is written into the smart contract stating that IF the purchaser decides to sell the token block prior to the hard-coded release date, the owner of the contract (Splyse in this case) must approve of the buyer before the token transfer can be finalized and released.
- The deployment of the smart contract with storage capability cost only 90 GAS, not the 490 normally needed for a NEO smart contract deployment.
- A delayed and unalterable token release date, hard-coded into the smart contract itself, serves multiple purposes that are applicable to many use cases. In our case, such a delay shows the trust and support that NGC has in the MCT token and its value within the NEO ecosystem.
A time-delayed release of the token block also serves as a legal protection for companies making investments through cryptocurrencies in countries where regulations are in flux. While this is not a universal statement, for our purposes in the United States, this arrangement provides a safeguard to the existing laws in place by the SEC. We believe this protects both the buyer and seller from legal ramifications when working in cryptocurrencies and showcases what is possible when a smart contract is constructed with specialized parameters in conjunction with a legal team.
A delayed release also allows for more stabilization through time for the token value and prevents a possible flood of tokens into the market. Such a scenario allows the investor to show support for a project through their token and allows the investor to make a purchase of tokens not yet on reputable exchanges and hold their investment in a safe capacity as the market fluctuates.
Seeing MCT in action shows the true power of this token and the simple power it has to redefine the way in which smart contracts are deployed in the NEO Smart Economy. We are truly grateful for the support and confidence shown in MCT by NEO Global Capital. Knowing that MCT has a more prominent place in the NEO ecosystem will also benefit many developers and companies looking for innovative ways to deploy the very smart contracts that power this NEO Smart Economy.
Please visit this link if you’re unfamiliar with MCT and better understand how to utilize the token to power your dApp or any contractual agreements you have in motion. And feel free to join our MCT Discord if you’d like to talk directly with our Dev team about any of the technology powering our token.
