With MoneyToken, there’s no reason to sell our BTC when we need cash or stable currency. MoneyToken provides crypto-backed loans, stablecoin MTC and a decentralized exchange service.
What is MoneyToken? and How we can use it?
The problem has been obvious for some time - spending crypto assets today prevents cryptocurrency holders from gaining on any future growth in asset value; holders who buy low need to hold on to their investments in order to benefit from selling high.
This is where MoneyToken steps in. The MoneyToken platform allows us to borrow liquid funds instantly, based on the current value of your cryptocurrency asset holdings. We can take out a loan, collateralized with more volatile assets such as Bitcoin or Ethereum - and in return we receive an agreed loan amount in a stable currency.
And after repaying the loan we receive our whole collateral back; even if the collateral has increased in value multiple times.
This way, we're able to acquire liquid funds for immediate needs, and save our crypto position, all at the same time.
Behind MoneyToken their is Amanda. Amanda is an Artificial Intelligence Assistant who will provide automated loan operations within the platform.
Amanda is powered by a deep learning AI algorithm, and her goal is to provide human-like services for the platform users.
Besides functioning as a loan assistant, Amanda acts as a true AI, analyzing clients activity on the platform from their first steps, through to loan completion in order to generate predicative actions; for example being able to offer additional financial services, tracking collateral performance, monitoring loan repayments and due dates – all the functions required within an ecosystem that is not managed by any central authority.
Amanda helps remove the need for middlemen and managers, hidden commissions and fees, and obscure terms written in the ‘small print’ of contracts; all the bad practices of traditional banking.
So, what do you think about this?
Comment below to know more!