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Monaize is a European e-banking platform that provides a mobile-first current account for freelancers and small businesses. Using the latest technology, Monaize is the first platform to provide an instant KYB (Know Your Business) on-boarding process allowing users to create a business current account in less than five minutes with a smartphone. More than just a current account, Monaize is a platform into which an extensive range of third party services will be integrated including professional insurance, innovative payment solutions, cryptocurrency wallets, crowd lending and factoring; empowering entrepreneurs to focus on their business. Monaize will be expanding its services to the United States, Canada, South Africa, Australia and Malaysia in the coming years

Providers

Komodo Platform thrives on solving existing socio-economical problems through decentralized technologies and paving the way for a prosperous society. They offer white-label services, a framework for decentralized applications, and various plug and play solutions for both businesses and developers. The platform features range from security and privacy to scalability. They have already made breakthroughs with fiat-pegged assets and blockchain interoperability. Their strength lies in their ability to actively follow the latest trends and investigate what other projects are developing within the blockchain industry. Most recently the team was researching micropayment channels based on Bitcoin’s Lighting Network and looking into ways to provide language agnostic simple as well as smart contracts.

Token Swap

Monaize, in collaboration with Komodo Platform, is excited to be conducting the first decentralized token sale via “atomic coin swap”. Komodo Platform utilizes existing technology based on JUMBLR and BarterDEX to create a game-changing method for conducting a fully decentralized token sale. Monaize will be the first of many such decentralized ICOs. Bitcoin or Komodo orders are matched against suitable token sale orders through a low level pubkey to pubkey messaging protocol. The final settlement is then made through the atomic cross chain protocol. A detailed guide on how to participate will be published prior to the token sale. A number of recent token sales, conducted on well-known platforms, have fallen pray to attacks causing people in the cryptocurrency community to loose large sums of money. This is a much safer way of swapping tokens as BarterDEX will allow Monaize token sale supporters to purchase MNZ tokens without counterparty risk.

Token Holders

Token holders will receive rewards based on the number of monthly Monaize Business Account creations (new user sign ups and renewals in the Monaize iOS and Android banking applications). Monaize token holder loyalty rewards are distributed in KMD. The number of new Monaize Business Account creations is counted at the end of every month and, depending on the year, the equations below are used to calculate the collective sum rewarded to Monaize token holders. Rewards are distributed on the 1st day of every month. Komodo Platform’s automatic reward distribution API crawls through the blockchain and creates a list with all public keys and their current holdings in order to distribute R proportionally based on the percentage of MNZ tokens held.

ICO

Currently, the Monaize token sale is not available to residents of the United States and Singapore due to local regulation.

The token sale will officially begin at 12pm (GMT) on 10th November. The Monaize token is created with Komodo Platform’s ‘asset chain’ technology. It is a Proof-of-Work blockchain that uses Equihash mining.

The total of number MNZ tokens created will depend on the amount pledged in Komodo and Bitcoin. As an indicator 1 BTC will buy you 15 000 MNZ tokens. The total number of MNZ tokens will also depend on early bird swap volumes during between 5% and 20% extra tokens will be given to certain participants as a bonus. Following the token sale, any extra tokens not included in the token distribution plan outlined in the white paper will be burned.

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