The blockchain industry witnessed a boom in 2017 with its safe, reliable, decentralized and tamper-proof features, the technology is gradually moving from geek to the general public. It not only opened up a revolutionary industry but also makes cryptocurrency a new investment and financing model, which completely detonates financial market and presents a tremendous commercial prospect. However, opportunities and challenges co-exist. Under the enormous return on investment, an increasing number of investors and teams streaming into the market, but the risk of investment in the field of cryptocurrency surges and the market presents a trend of brutal growth.
The company says they are the price monitoring app with the largest market share in China, MyToken focuses on the pain points of the industry with the aim of restructuring its investment ecosystem to become a clear stream in the field of cryptocurrencies.
What are the pain points brought by cryptocurrencies with brutal growth?
According to an incomplete statistics provided by MyToken, there have been almost 500 financing activities including initial fundraising for a public offering of tokens since 2017, which raised a total amount of 5 billion USD. The rapidly inflated market and the crazy development trend expose the ecological pain of cryptocurrencies in a more clear manner.
Investment transactions are too fragmented for people to measure their personal assets. Today, the total varieties of encrypted currencies available for trade now have soared to over 2,000 while the number of well-known exchanges offering digital currencies has reached nearly 300. For investors, the purchase of cryptocurrencies and the choose of exchange are full of difficulties. Transactions often go through multiple platforms, such as Over-The-Counter trading desks and token exchange platforms. Users may waste lots of times during the transactions among platforms. Due to the extremely fragmented transactions processes, users’ overall experience normally cannot form an effective closed-loop. Meanwhile, it is difficult to measure the individual assets scattered across exchanges. The costs of getting started with the learning of cryptocurrency trading are normally high, which makes it difficult to use as easily as that of stocks and futures.
Decision-making costs of users are high while the market is full of chaos. The essence of cryptocurrency is the investment is the early start of businesses and projects while individuals are actually acting as their angel investing institutions. However, the unequal information between project parties and users may lead to wild increases the decision-making costs of investments. It has become a big challenge to judge the authenticity of project information, the rationality of market value and the reliability of the team, and the risk of user investment soars correspondingly. Meantime, since blockchain has the characteristics of decentralization and globalization inherently, it’s very difficult for countries and governments to effectively regulate the entire industry through administrative orders. With the fickleness in the investment climate and the expectation in get-rich-quick, the phenomenon of frequent fraud has made many investors suffer from losses and caused chaos in the entire industry, which has brought a severe blow to the blockchain industry that is about to enter the rapid development.
The rapid growth can even worsen the pain points of cryptocurrency industries. When many air projects have collected a huge amount of money and flee the market together, who will be the one to settle the disturbed situation?
Can the solid landing MyToken reshape the investing in ecology?
MyToken starts from the pain points, committed to bringing a healthier future to the investment ecosystems. The project started in August 2017 with a breakthrough in cryptocurrency business. After six months of high-speed product iterations, it has become the price monitoring app with the largest market share as well as the most active user bases in China.
After a six-month period of development, MyToken has successfully solved the first pain point of the whole encrypted currencies industry- to satisfy the needs of one-stop view of the instant price among different exchanges, in order to achieve an easy management of investors’ personal assets.
Currently, MyToken has become the most popular market and information platform in China with more than 400,000 users, over 150,000 DAUs, more than 50 mature communities of core users. The application has now covered iOS, Android, HTML5, and Mac.
However, price monitoring application is just the starting point for the platform to establish a complete business empire. Today, MyToken is building a healthy cryptocurrency investment platform, with the objective of further ameliorating the industrial pain points and providing a bi-directional and transparent ecosystem for the development of the crypto market.
On the one hand, MyToken seeks to create an efficient investment environment that helps investors and developers better understand and participate in the future world of blockchain. It helps investors to depend on the understanding of blockchain industry and the project parties with the most objective and neutral data, information and tools, reduce the decision-making costs and integrate which into the blockchain world through data consolidation, UGC, community and ecosystem services in a more effective manner.
On the other hand, MyToken will be introducing both decentralized technology and token system to attract more eco-builders and business partners to jointly create an efficient, friendly and non-evil cryptocurrency investment ecosystem.
MyToken’s ambition does not emerge out of the void. Its vast user base and successful operational experience help provide us with a two-way transparent ecosystem. Moreover, matured projects often tend to be more popular among investors. MyToken’s achievements and reputation in its industry have added more to our expectations.
Can its culture-driven team become a clear stream in the industry?
MyToken believes they are building something to become a clear stream in the cryptocurrency market that is flooded with air projects. Today, the platform is gradually expanding, transforming its ecosystem and based on the business architecture after transformation, issuing ERC20 standard cryptocurrency and named MT.
MT will carry the value of circulation in MyToken’s ecosystem and become the blood of ecological co-construction and value consensus. At the same time, the ecological value is bound more deeply to all its members and investors to encourage value investments.
The system will periodically allocate [MT Contribution] according to the amount and period of MTs held by users. [MT Contribution] will be linked with user rights in some scenarios and consumed in the course of user behaviors.
In the future, MT will show great value for the improvement and upgrading of MyToken business, which is mainly shown as follows:
- The platform sets up the information channel between project and user through accurate advertising while MT acts as a value carrier to realize the circulation between the advertiser and the user.
- The platform links major exchanges and provides one-stop trading services for investors while MT will be used to offset the fees in the transaction process for users.
- The platform selects reliable projects to help project parties and investors establish more accurate channels of mutual choices as well as build up convenient overseas ICO platforms. Project parties can accurately disseminate fundraising information through MT while investors can obtain a good experience and a highly consistent operating interface and avoid complicated and tedious processes by means of single-point KYC certification.
- Based on the ecosystem, the platform is able to establish a comparatively more completed data services, such as quantitative trading, trading with investment, derivatives trading, smart contract audits and professionalized project evaluation. Developers and professional teams can charge MTs from users as the service fees. Meanwhile, MT contribution will be consumed when MyToken is about to open source;
- The platform builds DApp Store. Project parties and developers can consume a certain amount of MT contribution to release their DApp in the DApp Store, and obtain the better presentation of performances by paying MTs. Users can easily search or add their favorite DApps in the store and make recommendations and comments on it.
- Create an active and reliable UGC content creating a platform. As a value carrier, MT circulates in the platform and becomes the value carrier for users to create content.
Iris Zhang, a partner of the Spectra Ventures & Advisory, the consultant institution of MyToken, gives us a hint that products with high-frequency user behavior approaches are more inclined to be the traffic entrance. “In the next 3 to 5 years, this industry stands a chance of being a unilateral rise.” She added “It is also a rough estimation showing that the monthly profit of MyToken, to a large extent, will be counted in ten millions of CNYs. Moreover, the growth opportunity of MT is also rest-assured thanks to the mechanism featuring buy-back of tokens and, it is very likely to meet the target of buy-back of tokens to reduce its amount in circulation to 4 billion. However, the continuous growth of users and cooperation demands will make MT desperately needed and definitely deserve much attention.”
Not only has MyToken brought an ambitious blueprint for the blockchain world, but its healthy and steady development pattern has also become a clear stream in the blockchain world. As we can see, new reforms and challenges are being embroiled in the area of irregularly developed cryptocurrencies. MyToken can help more people participate in the transformation of the blockchain’s era in a faster and more effective way and jointly create a bright future for the entire industry and the human world if they are able to establish efficient connections between the blockchain world and the traditional ones, the blockchain-based project parties and investors and help all people better understand the world of the blockchain projects and the blockchain technology itself.
We expect blockchain to truly exert its value. The team of MyToken believes it can always rely on its “non-evil” values to make technology better serve human beings and bring prosperity to the times.
Those interested can add MyToken on Telegram to get updated info and 200 FREE MTs.
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- ICO page: https://tokensale.mytoken.io