Token

token

The MXL token is an utility token

It will be used as a coin to pay for listing fees and featured auctions.

MXL will use MXL token as an incentive to buyers leave the seller feedback, offering part of the listing feed to the buyers.

MXL will also rewards the token holders with 0,5% of all deals.

Token Overview:

Restrictions to Founders and Advisors

To protect Pre Sale and ICO Participants, we have rules in place to avoid big token dumps on the exchanges from part of the Team behind MXL. Those rules are:

  • Founders and Advisors before a public sale on the Exchanges must ask others Funders and Advisors if they want to Buy, if both parts agree on the price, the deal is made privately, without influencing the exchanges prices.
  • The second rule is in the form of  conditional distribution:
    • 10% in August 2018 (after the ICO)
    • 30% in August 2019
    • 40% in August 2020
    • 20% in August 2021 (3+ years after Pre Sale ends)

After the Pre Sale we will enforce this last rule in one Smart Contract for each team member, we don’t do it now, because the team is not yet closed. Each member will be owner of is own contract. Timestamps and contract logic will make impossible to them to move the tokens before those dates. Those smart contracts will be listed here for anyone to inspect.