March 14th, 2018 at 1:39 pm UTC · 2 min read
MoxyOne launched the official token sale for its SPEND token. SPEND tokens will be used as a utility token for fees within a new blockchain-based payment system. The goal of the token sale is to raise a minimum of 4,000 ETH to support the the development of this payment network–which will empower users to make purchases at brick and mortar stores using their cryptocurrency portfolio.
The MoxyOne ecosystem was designed to integrate blockchain assets, products and services with the real world. According to the MoxyOne White Paper, these assets, products and services “will at some point require an equally reliable payment system to enable their users to make purchases with their tokens.”
In other words, the MoxyOne ecosystem empowers users to make real-world purchases with cryptocurrency. To that end, it includes branded debit cards–connected to the end users’ cryptocurrency portfolio–that let users make purchases at brick and mortar stores. Currently, MoxyOne allows users to make purchases with Ether, and will be integrating more cryptocurrencies in the future.
Nevertheless, the SPEND token remains the backbone of the MoxyOne platform. As the white paper says: “it will be used for individual transactions and corresponding transaction fees. In addition, SPEND tokens can be used for daily transactions by token holders.” In short, MoxyOne gives users the best of both worlds: the ability to make purchases with coins already in their portfolio, AND a built-in token system for exclusive use on the MoxyOne payment network.
The SPEND token sale begins on March 14th, 2018 and ends on April 14th 2018, leaving exactly one month for the token sale to reach its goal. Should the token sale fail to hit goal, Smart Contract will issue refunds to all contributors minus marketing fees.