MYTC My Trade Token - A Decentralized Bartering & Trading Ecosystem

thecryptotea (34)in #crypto • 6 years ago

The My Trade Token (MYTC) is working on building a decentralized exchange geared towards business-to-business bartering and trade transactions. Many business owners will look to barter or trade goods with other businesses in order to save cash, move excess inventory, and to fill up downtime capacity that can be utillized for revenue else where.

The main issues betweem businesses that do trade/barter are fraudulent transactions, privacy issues, inflated pricing, and high fees from international and even local transactions. The MYTC team found a way to innovate the current existing trade/barter model that will improve the way businesses operate through the use of digital currency on the blockchain.

The MYTC ecosystem will allow businesses barter/trade with the MYTC token on their secure, automated platform. All transactions will be recorded in member's accounts which are permanent and transparent using blockchain technology. The MYTC token will serve as the currency for a secure trading network with speeds and costs much favorable to traditional trade merchant systems. Businesses across all industries will be able conduct trades and work with out any sorts of boundries.

MYTC is looking to support small/medium businesses by building an ecosystem where they can thrive with more accessible options. Smaller businesses will be able to access resources at a more effective cost and will also draw in new customers. The MYTC platform has plans to work with thousands of merchants that will provide goods and services for everyday transactions.

There will be several benefits for businesses to join the My Trade Token network. Merchants will gain access to new customers as well as create another dimension to their business operations from being able tjkijo trade/barter tokens to cut costs and increase sales. Moving excess inventory that is not selling will be made into a simple task with the trade system. Expanding distribution channels will be made as cost-effective as possible as well as easier to do with the MYTC community network. The MYTC platform will include a large, global business-to-business network which will help in promoting merchants and conducting business transactions.

What Will The Finished MYTC Product Be Like?

The finished MYTC dApp will be able to be accessed with any of the main, popular browsers. There will also be a mobile application that will work on Apple and Android devices. Aside from sending and receiving transactions, users will also be able to keep track of their account balance and transaction history as well as limit spending and earning all from the app.

The app will be secure and accessed through authentication procedures. Users can easily spend or receive tokens by easily scanning a QR code. The app will also allow businesses to contact sellers through phone messaging. Monthly transaction statements will also be updated and sent out which will help automate the financials and paperwork for businesses.

MYTC Token Generation Event - Token Sale

MYTC is an ERC20 token with a total supply of 300,000,000 MYTC. No more coins will ever be issue or minted after the tokensale so loss of value from inflation will not be an issue.

Pre-TGE begins 1st August 2018, 12:00(GMT) and will last for 31 days. The soft cap is 1,500 ETH and hardcap 5,000 ETH. 1 ETH will equal 10,000 MYTC during the pre-TGE. Total token supply for sale is 50,000,000 MYTC.

The TGE public token sale will begin 1st September 2018, 12:00 (GMT) and last for 30 days. The soft cap is 3,500 ETH and hard cap 17,800 ETH. Total token supply for sale is 112,000,000 MYTC.

Funds raised during the TGE will be allocated at:

Marketing 10%
Advisors 15%
Legal and Admin 10%
Contingency 5%
Software Development 40%
Business Development 20%

Remaining or unsold tokens from the TGE token sale will be rolled over into a reserved tokens account for future release to give an opportunity to future merchants to join the MYTC ecosystem.

MYTC TEAM

The MYTC company is registered with the Australian Government regulator AUSTRAC. The co-founders are John Tu (entrepreneur/academic), Behrad Izadi (Senior blockchain developer), and Jose Alvarado (mobile/web developer). Dr. Kenneth Yap is acting as the analytical director. Paul Lopez is the project manager, with over 16 years of professional software development experience, and the sales and marketing team consist of Jade Clarke, Andres Arevalo, and John Nguyen.