Project Description
Monaco is joining TokenCard, Mycelium, and Plutus in the race to develop a crypto debit card.
The Monaco card will have a number of features:
Compatible with both Bitcoin and Ethereum
Payment through visa
Mobile app that provides real time price and conversion rate data
Free money transfers between users
Biometric identification
Free exchanges between USD and EUR
According to the founding team, payments made in BTC or ETH are converted to fiat for a 1 percent fee. All currency conversions are processed by Monaco. Monaco also covers Visa’s transaction fees. Transaction fees will form the basis of a cryptocurrency fund that will be used in a buyback program for the MCO token.
Project Details
Incorporation status: 2017 Monaco Technology GmbH
Team openness: Fully transparent
Blockchain Developer: Gary Or
Technical White Paper: Yes
Available Project Code: Not available
Prototype: Not available
Token Details
Role of token: Holders are eligible for a token buyback program
Token supply: Proportional to raise amount
Distributed in ICO: 30 percent of total tokens created
Emission rate: No new coins created
Blockchain: Ethereum
Consensus method: Proof of work
Sale Details
Sale period: May 18th, 2017 to June 18th, 2017
First price: 50 percent bonus
Accepted currencies: ETH and ERC20 tokens
Investment Round: First public offering
Token distribution date: Immediately after sale
Min investment goal: 5,000 ETH
Max investment cap: 888,888 ETH
How are funds held: Token Market managed Escrow wallet
Minimum Viable Product: September, 2017
Bonus schedule:
ETH Raised Bonus
1-10,000 50%
10,001-30,000 40%
30,001-50,000 30%
50,001-75,000 20%
75,001-100,000 10%
100,001-150,000 No Bonus
7 day period No Bonus
