Quote from: vipthree on January 22, 2018, 09:26:52 AM

Quote from: Isaaq.Almaguer on January 22, 2018, 07:20:27 AM

Quote from: TheHas on January 22, 2018, 03:48:04 AM

Just confirming with token lock up, that when you buy from an exchange (say, Binance since that is who you have the strongest partnership with) that you only need to buy the EXACT number of MCO for a particular card?

So if I were to buy 50 MCO tokens in preparation for getting a Ruby Card, and I got these tokens from Binance, there wouldn't be a withdrawal fee from Binance to the MCO wallet that would mean I'd have slightly less than 50 MCO tokens in the end, so would be short of the Ruby Card? Also same question for the other cards like 500 MCO card.

I doubt Binance would be responsible for the token lockup. So I'm guessing yes, you have to have exactly 50 MCO in your private wallet, and send them to an address or a smartcontract for lockup. Which means you'll have to pay withdrawal fees from whichever exchange you bought the MCO from. As well as some gas fees for the transaction.

Yeah, Monaco team is developing its own wallet, where you would need to transfer your MCO for lockup. I am sure transactions fees applies.

Hmm I figured that might be the case, but I wouldn't be too sure that Monaco isn't coming up with a workaround or solution, even just for the optics of it.

It would leave a really bad impression on users if they went to an exchange, purchased 50 MCO to get a Ruby Card, sent it to a special MCO wallet, and then get told that they have 49.9 MCO, so can't do lock up or get their card.

Given the nature of their close 'strategic parternship' with Binance, I wouldn't be surprised if they are working on a direct lock up through Binance to avoid transaction fees while also allowing Binance a one up on its competitors.

Binance already provides extra functionality for specific coins - for example providing GAS for all the NEO you hold on the exchange. No one else does that to my knowledge.

I think it would be a mistake for Monaco to make the process overly complex by making it a 50 MCO 'and a bit' token lock up.