Metal (MTL )
Crafted with ♥ by Trade Crypto Live
It is a system similar to bitcoin but with a user-friendly interface and a front-end that is similar to Venmo, Square or PayPal.
Metal can act as a bridge to bitcoin or any cryptocurrency available. Many small businesses across the world prefer to only accept cash. However, in an increasingly cashless society, refusing to accept digital and card payments can be problematic.
Put simply, Metal believes cash only businesses can benefit by adopting cryptocurrency as a new form of cash, as cryptocurrencies possess many of the same properties particularly around privacy, censorship resistance and fungibility.
In order to bring digital payments into a world that utilizes blockchain-based technology over some traditional banking rails, Metal expects to save consumers 4-5% on all purchases.
One challenge is that bitcoin is extremely volatile and scares away many would-be users due to the fact that it is accepted almost nowhere, including brick and mortar businesses and online. Financial institutions, for the most part, avoid bitcoin. They are creating private blockchains to identify sources of funds as well as users on these systems.
Using a centralized form of Know-Your-Customer (KYC) identification and a payments platform, Metal proposes to fairly distribute cryptocurrency via Proof-of-Processed-Payments (PoPP) on top of the Ethereum blockchain. Satoshi’s original vision for bitcoin was to distribute miner rewards fairly through Proof-of-Work (PoW). However, we have seen mining become highly centralized in China. With a centralized group of miners, distribution of the cryptocurrency becomes highly skewed and becomes near impossible for the layperson to earn, instead forcing them to purchase through an exchange.
Without an incentive to purchase, cryptocurrency may never reach mass adoption. Metal proposes a system utilizing provable payments attached to verified identities to distribute currency. Anyone can participate to earn MTL as a reward for converting fiat to cryptocurrency.
Spring 2018: Banking Rollout. Metal bank account with prepaid debit cards integrated. Use Metal anywhere credit cards are accepted.
Winter 2018: Merchant Adoption Features. Shopify-style integrations, plugins for online businesses, integrated NFC hardware tap-to-pay terminal, and much more.
INITIAL COIN OFFERING (ICO)
A total of 66,588,888 MTL tokens have been created at the genesis. The Metal token will be ERC20 compliant which means that a stake holders address can be linked to a name or tag or fetched by an identity security provider.
A 31% initial amount of MTL tokens will be saved from the cap of 66,588,888 MTL (which is 21,088,888 MTL). This will be deducted from the total amount available for distribution through PoPP (26,341,112) and locked up for 12 months, leaving 21,088,888 MTL for the token sale.
A portion of the company reserve will be set aside. Over 3 million MTL will be broken down to 1,000,000 MTL each for the initial two co-founders; 200,000 METAL will be distributed among each of the first five employees and 40,000 MTL will be distributed each for nine advisors.
MTL tokens will vest every month for twelve months until fully vested with co-founders, first employees and advisors. If for any reason a founder, employee or advisor ceases to be with the company during their vesting period, all vesting will cease and be returned to the Metallicus Limited operational pool.
This leaves an additional 13,378,888 MTL in the Metal operational pool to be used at the company’s discretion. The operational pool may not be drawn from by Metal for twelve months from the completion of the token sale. The Metal operational pool may be used for but not limited to: attracting top talent to the company, marketing purposes and performance-based bonuses for employees.
Equity investors in Metal are entitled to the average token sale price of MTL at $0.18, for their equity investment to be matched in MTL tokens. This financing of $556,000 in private equity takes 3,088,888 MTL from the initial token sale amount, reducing it to 18,000,000 MTL available at the start of the token sale.
The token sale will be distributed over the course of six months until all of the coins are sold (18,000,000 MTL). Any coins that are not sold during the three tiers of the token sale will be dissolved into a proof of burn address via Ethereum contract in Solidity.
New number of coins in circulation: 21,088,888 MTL
Operation Pool for Metal Project total: 13,378,888 MTL (locked for one year)
Employees/Advisors: 3,780,000 MTL (vested per person)
Metal Foundation: 2,000,000 MTL (To assist projects, partners and companies for on-boarding)
PoPP Issuance: 26,341,112 MTL (PoPP 5% bonus is only until all MTL is allocated).
Creators / Founders
QuickCoin, Stellar, Trees
Visa, American Express
Core Development Team
Oscar Munoz, Chief Compliance
Sid Parihar, Senior UX Design
Marshall Hayner, CEO & Co-Founder
Glenn Marien CTO
Ephraim Russo, iOS Developer
Kenan Pulak, iOS Developer
Brock Nordstrom, Motion Designer
Virgil Bellini, Sales
Vinny Lingham, Civic
Juan Llanos, ConsenSys
Andrew Lee, Purse
Jason King, Alphabit
Matt Fiske, Sensorium Ventures
Trade Crypto Live Sentiment
They have a good idea and a great concept and a new rebranded web page which should be appealing to younger users, but in the true spirit of cryptocurrency this is a centralized model similar to Ripple(XRP) but with the different target market.
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