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.
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).So basically, you make money by holding your Monaco coins !
I wonder what the possibilities are as far as users (1 million 2 million.)
How many transactions per day would they generate.
I wonder how much 1 Monaco could be worth based on the fees generated through users ?
So will be able to generate income from fees generated tommorow once the app launches.
You can only claim once per token. when you cash it in the mco token gets burned