XCARD Project — Why MBM is a perfect example of utility token?
Why ? This is a project that I had a chance to introduce to you and what the project can do and promote the development of Blockchain.
Spend Anywhere, Any Cryptocurrency, With Any Payment Card. XCARD is an all-in-one digital wallet & the most convenient crypto credit card. You can perform any financial and cryptocurrency transaction in real-time, with no limits.
And one important thing for Blockchain projects is the project token. With XCARD, their token is MBM.
MBM TOKEN
MBM has a dual nature of an access token and a transaction fee token. Users need to hold a certain number of MBM tokens to use and interact with the XCARD platform. The Initial Exchange Offering event is the primary issuance of tokens and the first chance to purchase them. Users can later obtain tokens through the XCARD platform itself, or independent brokers.
MBM TOKEN HAVE MAIN FUNCTIONALITIES
XCARD aims to provide the best service at the lowest possible price in the market. To achieve that, XCARD does MBM — ERC-20 utility tokens naturally provide for the entire platform. Each activity is carried out on XCARD platform by the user is valuable. The XCARD platform requires each user to participate in that activity to hold 0.5% of transaction value in the MBM token. When specific operations are invoked, preliminary checks by smart contracts are performed, to confirm that membership requirements are met.
On the other hand, XCARD refuses to query.
And above mentioned membership requirement applies among others to:
All currency conversions
Loans and pay-later transactions
Topping up third-party payment card
API calls
Auctions on collectibles
Recurring payments and transactions
when there are specific activities that bring additional costs when done. In such cases, the MBM Token become a way to bring that cost to users. These activities may include switching between low assets liquidity or high volatility due to market conditions, lending rates, … If an additional charge is applied, the user will be presented with cost details before committing to the service, ensuring highest level of transparency. This information is displayed to users during transaction preparation. It may include transaction costs, MBM token conversion rate and token cost required to complete the deal. If the user does not have enough MBM tokens at the start of the transaction, the number of MBM tokens needed may be converted from the default wallet of the selected user. They are automatically reserved for you as part of the transaction. The value of fees and access requests are determined based on public market data.
This is a quite useful solution that XCARD uses the MBM token to perform operations when transaction .
FOUNDATION API
Foundation API is open source and may be accessed by third parties . The access to it costs 0,01% of the transaction paid in MBM for each single API CALL.
CONCLUDE:
With what I have presented about the project as well as MBM, I believe this is definitely a project that is expected to be the top one in the near future. By what it can serve the user benefits. Besides, the MBM token will also be an opportunity for potential investment. In the future, the project will seek funding through IEO. Please join me in waiting for more updates from the project. To get more information about the project you can visit here:
Telegram Chat: https://t.me/mobilumcom
Twitter: https://twitter.com/xcardbymobilum
Facebook: https://www.facebook.com/mobilumcom/
Medium: https://medium.com/mobilumcom
Linkedin: https://www.linkedin.com/company/mobilumcom
Website: https://xcard.io
WPP: https://xcard.io/static/XCard-Whitepaper-21082019.pdf
And I’m chillandrew1511 ( user bitcointalk).
Link profile: https://bitcointalk.org/index.php?action=profile;u=2575495
ETH address: 0x878cd8b84aec8295d83d0785d99b7c12894384c9
Thank !!!
