Mobilum Token Economy Introduction
The token economy is a vital part of each blockchain solution. Think of it as the gas for the automotive industry, powering the engine to maximize its efforts to arrive on time to the driver’s destination.
Mobilum Platform is the most convenient platform that offers instant “any-to-any” exchanges, the best execution rates, and the ability to spend supported cryptos on demand for daily necessities like coffee, cab rides or shopping in your favorite mall.
A Mobilum Token (MBM) was introduced to feed the entire Mobilum ecosystem. MBM Token’s primary role will be to become a means of membership and a method of payment for each activity performed on the Mobilum Platform. MBM Token is a simple utility token. Each operation performed by the Mobilum Platform has its value, and for the Mobilum Platform to run a particular service, a preliminary check is completed to confirm that all involved parties hold a 0,5% of that value in MBM Tokens. If failed, Mobilum Platform declines the query.
For some operations, which carry a cost when performed, MBM Token becomes a way of bearing that cost by the platform’s customer. Such actions may include conversion between Altcoins with low liquidity or high volatility due to the market conditions, a loan given to the user, a payment for the loan collateral, etc. Each participant is presented with the cost details before committing to the service, ensuring the highest level of transparency.
The Mobilum Platform addresses problems of several different actors who will all have the ability to perform operations on it:
- Retail customers who are regular wallet owners that want to spend their wealth easily.
- Merchants who are wishing to break artificial walls built by fear and uncertainty.
- Exchanges that are willing to give state of the art, secure and convenient digital wallet to its customers.
- Lending companies who are eager to serve cryptocurrency owners by lending them fiat money with their cryptos as collateral.
Providing Merchants the ability to accept payments in any currency, including cryptocurrencies — instantly — excluding expensive intermediaries- and receiving that payment in the fiat currency of their choice, at the best execution rates — is a total game changer! All four of these key players need to have 0,5% of the operation value in Mobilum Tokens. If the wallet holders have to pay for services, those are settled in Mobilum Tokens as well.
As a simple utility token, MBM Token can be purchased through the Mobilum Wallet using the Mobilum Smart Contract in order to meet the needs of each type of user on the platform. By utilizing MBM Token as a liquid token for lending collateral and spending in fiat, MBM Token owners can send tokens to other users, or between their wallets, and they can convert the tokens in Mobilum Wallet to another crypto like Bitcoin, Bitcoin Cash, Ether or Dash, plus so much more!
That is just a beginning. We will introduce a Mobilum Token API, which allows developers from our community to extend the usage of the Mobilum Token beyond the Mobilum Platform and its current services. Those integrations will bring value as well as increase the liquidity of Mobilum Token, its demand and popularity.