13 June 2018

MCT A Utility Token For NEO Smart Economy Is Now Listed On Hotbit.io

The Master Contract Token or MCT which was on the 8th of May, 2018 air dropped by Splyse to NEO wallets is now listed on HotBit.io. The MCT was listed on the exchange with two pairs namely; BTC/MCT and ETH/MCT. By listing MCT, HotBit.io becomes the first cryptocurrency exchange to list the digital asset.

 

The Splyse MCT Airdrop

During the airdrop by Splyse, 1,000 MCT were distributed to NEO wallets for every NEP-5 cryptocurrency that was held by the NEO wallet for a particular period of time. This was also despite the amount of NEP-5 tokens that were held in the NEO wallets. A typical example of this is where a NEO wallet address held AVA, EXT and OBT of any amount prior to the 8th of May, 2018 (00:00 UTC) date. This NEO wallet address would have received a total of 3,000 MCT during the Splyse airdrop.

There were 579,022,449 MCT supplied in all. Out of this total supply, the number of MCT air dropped by Splyse was 567,442,000 a number that represents 98% of the overall MCT supplied. These MCTs were air dropped to a total of 404,453 NEO wallet addresses. The remaining 11,580,449 MCT which represents 2% of the overall supplied MCT were allocated to support the development costs and other miscellaneous concerns of Splyse.

 

Understanding The Master Contract Token

The MCT is a utility token that was created for the NEO Smart Economy to take care of certain smart contract issues experienced with the use of NEP-5 tokens. Some of these issues include;

  • No Notification – When a NEP-5 token is sent, the smart contract does not receive a notification indicating that the NEP-5 token has been sent.
  • The Need For Off-chain Assistance – Tokens held in a smart contract cannot be spent without the help of an off-chain wallet that holds the private key of the owner.

The MCT will ensure that the smart contracts and users will engage in an automatic value exchange in a seamless manner. The MCT will ensure that third-party smart contracts can hold, receive and send NEP-5 tokens with limitless ease.

 

There is no intention for the conduct of an MCT ICO as the MCT smart contract will remain the final product. Only the initial airdrop by Splyse on the 8th of May, 2018 is all the MCT that will be distributed. The MCT team do not intend giving away any more MCT or now. The features of this token include the following;

  • MCT is compatible with NEP-5.
  • The MCT can be sent or received by smart contracts without the need for any off-chain code.
  • The MCT provides a “staked storage” to those smart contracts that hold a minimum sum of MCT.
  • MCT is capable of making smart contract token transfers as well as delivering more parameters in the process.

The ScriptHash of MCT is “a87cc2a513f5d8b4a42432343687c2127c60bc3f”. The Master Contract Token official website is tied to Github, you can go there by clicking here. You should be cautious of phishing pages that request for your private key under the claim that they have MCT to offer in exchange. MCT has no official forum like a Telegram server, but they have a Discord server and you can visit this Discord server by clicking on the link here.

 

MCT Smart Contract Can Be Used As Storage Proxy

The MCT smart contract can be used as a storage proxy when a third party smart contract stakes a minimum sum of 10,000 MCT. The owner of the smart contract can lower this minimum sum in time where the MCT value significantly rises. However, the minimum MCT stake is stable and will not be increased. It can only be reduced as mentioned before.

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