MCAP Token : The Road Ahead
Things have been going uphill since the announcement of our ICO. We have successfully raised over 19million $ till date. Our ICO is still active and we will keep you informed regarding its performance every now and then.
Today we’d like to share how we plan to invest our funds. Out of a total of 100 million MCAP tokens, fund usage will be split approximately evenly between platform and application development.
One major segment of platform development funds from MCAP shall be spent on mining hardware and ICO services as promised earlier.
Use of sale proceeds
Our primary goal is creating a platform which will include securing smart contracts. Ethereum smart contracts enable a highly transparent and secure way of profit sharing among the token holders. This allows our token holders to see exactly how our system would work (because a smart contract code is open-source) and stay confident in the reliability of our database (as the database is transparent and unchangeable). Further, it allows us to keep track of the distribution of rewards.
“Smart contracts are really the killer app of the cryptocurrency world,”
- Chris Ellis (Founder, ProTip)
Ensuring the trust of an investor is of prime importance and our utmost priority, hence our strategists behind the MCAP token have agreed on acquisition of ethereum smart contracts. Also some additional frameworks, such as comprehensive trading & management interfaces, and customization tools will be developed.
Legal requirements will include a corporate infrastructure establishment in at least 2 locations for crowdsale and operations. Work has been done prior to our token launch with a US law firm, to form a legal interpretation of US laws regarding an ICO. Our resources will also be required for gaming and possible financial use case legal work. A legal contingency fund will be reserved in case of future issues.
Marketing and Business Development
Business development efforts will be centered around identification and collaboration with new projects. It will further address existing partnerships which can be built on MCAP. Our core marketing strategy will involve promotion of MCAP to the potential customer segment and additional efforts will be spent on increasing awareness and knowledge regarding the MCAP platform and what can be built with it.
“As the value goes up, heads start to swivel and skeptics begin to soften. Starting a new currency is easy, anyone can do it. The trick is getting people to accept it, because it is their use that gives the “money” value.”
– Adam B. Levine
For our asset ranking on CoinMarketCap. (Click here)
Do visit our updates section regularly to stay informed with MCAP’s performance.