MPT to Launch the World’s first Blockchain dApp for Metal Can Recycling

The Writers Club
Jan 31, 2019 · 7 min read
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If we continue on this path, the environment will continue to be deteriorating at a rapid pace. The legacy we leave behind for future generations will be affected if we don’t take action now.

A solution to using earth damaging plastic as a means to package food, drinks, cosmetics and paint is by using metal instead. Metal is an environment friendly packaging material. Metal and glass are the only widely used packaging materials that have an unlimited lifespan and can be infinitely recycled. Metal has been used for years to package drinks, paint, conservatives, chemicals and other products.

There are still a lot of countries to inform about the environmental benefits of utilizing metal cans for recycling. Its time to bring worldwide awareness to using metal as a go-to packaging and recycling solution.

A project that can help raising awareness and making a difference is Metal Packaging Token (MPT). MPT is a unique global project to use blockchain technology to incentivize the recycling of metal cans and at the same time support the environment.

Metal Packaging Token

Metal Packaging Token (MPT), founded in 2018 by metal packaging professionals, proposes a blockchain-based solution to improve cost-effectiveness within the metal packaging industry, making it a competitor to plastic packaging.

EOS blockchain

To ensure the projects ability to scale the MPT team chose the EOS blockchain as their main chain, after careful consideration. MPT will adopt EOS’s Delegated Proof of Stake (DPoS) consensus algorithm. EOS gives MPT the ability to implement smart contracts and initiate a governance system to prevent the project from centralization. EOS’s layer-2 sidechain solution enables MPT to have multiple sidechains to run parallel to its main chain. A sidechain is a separate blockchain that is attached to its parent blockchain, using a two-way peg. The advantage of deploying sidechains is that there can be multiple sidechains without them interfering with its mainchain. Each sidechain can be deployed with a different use-case. For MPT, this feature will be utilized for deploying sidechains based on specific geographical locations, as metal recycling prices tend to be different in various regions.

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MPT target market

The first market that MPT plans to tap into will be the end consumers. For this specific market MPT will manufacture MPT Deposit Points and they will develop a mobile application for users. Participating consumers can recycle their metal cans at deposit points nearby and in return they will receive MPT tokens. Users do not need to acquire blockchain knowledge. They only need a mobile app, the location of a nearby MPT Deposit Point and their metal cans for recycling.

  1. Can Makers
  2. Can Fillers
  3. Retail
  4. End Consumers
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MPT token structure

A total of 1,800,000,000 MPT will be created on the EOS blockchain. 30% of the tokens will be used for partnerships, marketing and new hires, while 20% of the total MPT supply will be allocated to the team, with a 100% lock up period of one year, starting at the time of airdrop.
The other 50% of MPT will be divided between the airdrop cap (roughly 34%), the scrap purchase (20%) and the community sale (46%). An estimated amount of 414,000,000 MPT will be available for purchase in the community sale that will last for four weeks.

Exceptional transparency during Community Sale

During their community sale MetalPackagingToken is using the industries best practices for transparancy. One of these features is the unique buy-back-guarantee that is hardcoded into the Tokens Contract. Any community sale participant that, for a duration of 12 months, decides not to use or move its MPT tokens will have the ability to activate the guarantee and get back its buy-in in full. Transferring the tokens bought in the community sale to another wallet or exchange account will forfeit the right to sell back MetalPackagingToken. By offering this buy-back mechanism, MetalPackagingToken creates a unique protection mechanism for its community sale participants. It also means that MetalPackagingToken can only use community sale funds after investors have ‘unlocked’ their tokens by trading them on an exchange.

Concluding remarks

If we want the next generation of people to be able to live in a decent world, we need to start caring more about the environment. By lowering the costs of metal packaging, increasing its recycling opportunities and incentivizing individual recyclers, MPT is on its way to make a positive change in preserving the legacy we want to leave behind for the next generations. By achieving global adoption, MPT would have a big potential to drastically reduce energy consumption and Co2 emission. With a team that is comprised of metal packaging industry professionals and a project that has an aligned interest with brand owners to make a difference in reducing the plastic contamination of our planet, MPT wants to create a behavioral change in people’s actions and raise more awareness to this ever-increasing issue.

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