The TokenCard is a project that focuses on providing an easy method for users to interact and secure their tokens. It allows users to keep their Ethereum-based tokens secure and under user-set spending and security parameters through the Token Contract Wallet. Thee tokens can be spend through the physical TokenCard, nabling online payments, PoS transactions and ATM withdrawals.
The TokenCard token is also an Ethereum-based asset, holding a pro-rata claim on the TKN Asset Contract. This Asset Contract accrues a 1% licensing fee (enforced by smart contracts) on all TokenCard transactions. At any time, TKN holders can redeem their share of the underlying assets by 'cashing and burning' the TKN tokens.
Monolith Studio’s TokenCard is a platform to hold your ERC20 tokens, as well as spend them using a visa debit card. The ICO raised $12.7 Million using a variety of Ethereum based tokens as funding. The initial rate was 150 TKN per ETH which dropped by 10 TKN for every $750,000 that was raised. To a minimum rate of 100 TKN/ETH. The token reserve is as follows, 20% goes to 18 month smart contract split evenly between founders and Monolith Studio, 15% available to Monolith which can be sold, 5% for advisors.
The funding from the ICO will be spent with the following distribution:
|Fund Raised (BTC)||166,700 ETH; 462.2 REP; 374.2 DGD; 6,600 GNT; 1,600,000 SNGLS; 4,000 SWT; 7.6 MLN|
|Fund Raised (USD)||12700000|
|Start Price (USD)||0.54|
|Security Audit Company||N/A|
|ICO Legal Form||N/A|