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Chinese Crypto Price Monitoring App MyToken Launches ICO

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by Darya Rudz · 3 min read
Chinese Crypto Price Monitoring App MyToken Launches ICO
Photo: MyToken

MyToken, Chinese number one crypto platform, is expanding Bandwidth and launching ICO for its own MT token.

MyToken, China’s most popular cryptocurrency platform, announced the launch of its ICO to leverage its expertise and resources in cryptocurrency management eventually providing an even better service to users of its platform.

Blockchain industry is growing rapidly, with the current number of cryptocurrency exchanges close to 300. But the problem with this growth is a scarcity of bandwidths. The signal-to-noise ratio continues to decline. To deal with it, MyToken was designed. This platform solves the problem of insufficient bandwidth held by digital currency investors allowing for effective management of the investment portfolio.

Established in August 2017, MyToken takes price-monitoring service as an entrance and designes a set of solutions for the efficient management of blockchain investment. MyToken has more than 400,000 users, including more than 150,000 daily active ones across its iOS, Android, Mac, and web-based apps.

The MyToken ecosystem brings like-minded digital currency investors altogether, precisely matches the needs of digital currency industry and bridges an efficient communication channel between advertisers and users, as advertisers get accurate traffic data while audience are able to choose whether to accept the ads and benefit from viewing them.

On the basis of providing accurate advertising services, MyToken also supports the initial fundraising of token issuance on the legal compliance basis.

MyToken generates significant volumes in trade: monthly advertising on the platform is between $900,000 to $1.8 million, plus a service fee of 4% to 8% of every ICO on the platform.

The platform focuses on the pain points of the industry with the aim to restructure the investment ecosystem of digital currencies and become a working clear stream in the field of cryptocurrencies, as reported by Finsmes.

Today MyToken announced the launch of its own ERC20 standard token, named MT.

“For any investor, access to quality information is key to success and that is particularly true in the cryptocurrency industry where investors need to be able to tell the signal from the noise. MyToken was established to provide investors with the most objective data, information and tools so that they can make the most informed investment decisions. By combining this access to data with user generated content, a vibrant investor community, and a range of useful services we can help investors reduce cost and invest with maximum efficiency,” says Larry Guo, CEO of MyToken.

According to MyToken’s white paper, MT’s overall market value is about $47 million. When first listed on the exchange, the MT value will be equivalent to 17,000 ETH. The remaining 7,000 ETH will be unlocked on a daily basis over the next 6 months. This plan is designed to stabilize the price of MT in current volatile market conditions.

Aaron Chen, a partner of MyToken’s consulting agency Spectra Ventures & Advisory, believes that “the monthly profit of MyToken will be counted in ten millions of CNYs”. He said:

“Moreover, the growth opportunity of MT is also rest-assured thanks to the repurchasing mechanism of tokens and, it is very likely to meet the token repurchasing target of reducing its circulated amount to 3 billions.”

With this background, MyToken seems to have all chances to quickly become an important player in the international cryptocurrency market.

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