Re: ANN [MCO] MONACO #1 Cryptocurrency Payments Card

Can anybody explain what will be the role of MCO coin when the system is launched? Will it pay dividends or whatever? I haven't found anything in their whitepaper.

Quote from: Rogerdale on August 29, 2017, 01:09:47 AM

But anyway, what role will MCO token play in Monaco ecosystem?

All of the "1% transaction fees" gathered by the Monaco project are stored in a smart contract. MCO tokens are ownership shares of that smart contract's assets. You can burn your tokens at any time to claim your share of that smart contract. See Section 1.4 of the whitepaper.

https://mona.co/monaco-whitepaper.pdf

"1.4. MCO Asset Contract
MCO Asset Contract accrues a 1% licensing fee on
transactions using the Monaco Card funded with
ETH/BTC, as well as exchange transactions between
ETH/BTC and fiat currencies. Over time MCO will be
backed by a portfolio of the most popular ERC20
tokens. MCO holders will be able to access the
portfolio through a mechanism called REDEEM &
BURN (see 1.6).

Under total tokens do they mean total supply or circulating supply? I have noticed on coinmarketcap that total supply is 3.5 times higher.

Total tokens = total supply, which is around 34M MCO if I remember correctly. Currently only about a third of the MCO tokens are unlocked and available for trading. Even when they are all unlocked, a third will be a "treasury reserve" for the Monaco project itself rather than the personal benefit of the devs. I would bet that treasury will not go on the market for a long, long time.

But it will obviously reduce investors share. Moreover, it looks like these debit cards will be available only to EU citizens which greatly reduces the user base and eventual profits.