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MoxyOne (SPEND) ICO Review – ICO Token News

MoxyOne (SPEND) ICO Review – ICO Token News

The popularity of cryptocurrencies is growing day by day, but problems arise when it comes to using them for daily purchases. Digital currencies are not easy to spend and this creates a huge problem for token holders, as they cannot spend their tokens directly. Generally, to use cryptocurrencies, token holders have to pay expensive fees and unreliable exchange rates to convert their digital currency into fiat currency. MoxyOne brings an ingenious solution to resolve this problem by developing a reliable financial infrastructure. It allows users to spend their cryptocurrencies on real-world purchases by integrating them into their system and saving money on converting the tokens into fiat.

All about MoxyOne

MoxyOne is a project that endeavors to provide an efficient solution for rectifying the problem of the underutilization of cryptocurrencies. They are developing an infrastructure which companies can easily integrate to allow token holders to spend their cryptocurrencies (such as Ether, etc). The different ICOs  (FinTab, LHC, Inspeer, Storiqa, Perkscoin) who want to provide debit card benefits to their token holders can easily become their partner and utilize the MoxyOne infrastructure through their white labeling wallet system. The infrastructure provides unique benefits including a debit card, a virtual debit card, and a wallet system that allow users to make a purchase within the ecosystem or with worldwide merchants.

MoxyOne will offer outstanding benefits of high speed and a secure platform by using advanced blockchain networks like COMIT and Raiden. The use of the Raiden network will make the system almost instantaneous, scalable, and cost-effective with privacy-preserving payments. In this manner, the company aims to eradicate the issues that come with traditional centralized financial systems.

Features

  • Provides a MoxyOne debit card and wallet for your digital currency.
  • It charges very low fees.
  • Allows token holder to enjoy rewards points.
  • Enables the supply of fiat currency in any local currency by using liquidity providers.
  • Provides the benefit of a debit card to spend your digital currencies for everyday purchases.
  • Allows the integration of all major digital currencies in a debit card and wallet.
  • Easy-to-manage transactions and accounts.
  • Easy accessibility to reward points.
  • Access your referral link through your dashboard and share it to earn bonus tokens.
  • Offers a blockchain-enabled solution to ensure complete security.
  • Provides a quick and secure conversion of tokens to fiat currency.
  • Offers global accessibility with the help of liquidity providers and partners

What Is the MoxyOne Token?

The MoxyOne token is known as SPEND. This token works as the backbone of the platform and is utilized to settle transaction fees. It is also used by token holders for doing their daily basis transactions. Moreover, the company will also provide the MoxyOne wallet system to SPEND holders that allows them to perform various transactions like electronic purchases. With this, users can also withdraw fiat currency from any part of the world or spend their tokens at different merchants.

What is White Label?

The companies dealing in cryptocurrencies and ICO tokens (DreamTeam, BitIndia, BITCOMO, BitAir, Synapse and  Indicoin) can use MoxyOne wallet under their own branding with the help of white label. This will ultimately save them time and money as they don’t need to create their own payment system. MoxyOne will be responsible for making their token spendable and allowing the generation of profits. The pre-existing companies interested in trading in cryptocurrencies can also use this system and provide the benefits of making digital currency transaction to their users. Any project, company, or ICO is allowed to white label the MoxyOne system to offer a company-issued debit card for their users.

Moxyone_transactoion_processWhy is MoxyOne using COMIT Network integration

Security and speed are the two main key elements required in the world of financial transactions. The MoxyOne infrastructure is also focused on core elements including instant fund transfers, global access, and security from hackers. This is why they are planning to integrate the system into the COMIT network in the future due to its cross-blockchain interoperability feature. COMIT is capable of integrating the liquidity providers which are required for MoxyOne’s system operation. Moreover, it provides various benefits such as:

  • Allows users to do fast and instant payments all over the world.
  • Offers global access with no restriction of any business process connected to the blockchain.
  • With this liquidity, the provider will get new recurring revenue streams.
  • Its core infrastructure is based on blockchains that offer a secure and trusted infrastructure.
  • It allows MoxyOne to retain their control over assets.
  • Users need to pay nominal fees because it has a low financial cost.
  • COMIT has in-built security mechanisms that make it impossible for liquidity providers to do any cheating

ICO details

  • Token name : Spend
  • Emission rate : After the token sale end no new coin will ever be created.
  • Token network : Ethereum (ERC20 extended)
  • Hard cap : 50,000,000 SPEND
  • Token price : 1ETH=1000 SPEND
  • Distribution : Smart contracts are used to generate and transfer tokens instantly upon receiving ETH

Public Token Pre-Sale

  • Start date : February 8, 2018 01:00 UTC
  • End date : March 10, 2018 01:00 UTC
  • Soft cap : 500 ETH
  • Hard cap : 20,000 ETH
  • Minimum transaction amount : 1ETH

Token Sale Details

  • Start : March 14, 2018 01:00 UTC
  • Ends : April 14, 2018 01:00 UTC
  • Hard cap : 50,000,000 SPEND
  • Minimum goal : 4,000 ETH
  • Minimum transaction amount : 0.01 ETH
  • Minimum not achieved : Smart contracts will issue refunds to all contributors minus  marketing fees.

Team

  • Mo Abbas, Co-Founder & Lead Developer.
  • Tanshul Kumar, Co-Founder & Lead Front End Developer.

Summary

MoxyOne envisions the development of a secure and reliable infrastructure that allows token holders to spend their cryptocurrencies. It allows ICO companies to white label the MoxyOne wallet and create their own personalized debit cards to make everyday purchases easy for their token holders. If you want to become a part of this innovative project, then participate in its ICO sale.

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