06 August 2018

Splyse Announces The Investment Of NGC In Its MCT

Splyse recently announced that the NEO Global Capital (NGC) had purchased a block of its MCT tokens. By so doing, NGC will offer their support towards the long-term diversity and viability of the MCT use cases as well as the supporting role that MCT token will play under the NEO ecosystem. However, there is a hard-coded condition built-in the smart contract which withholds the MCT tokens for a period of 12 months.

How MCT Can Now Be Deployed

With the MCT smart contract the following can now be achieved;

  • A written agreement that is reached between two parties can be supported by way of a “trustless smart contract hard-coded” release date which is instituted in order to release the MCT token block that was purchased at a particular scheduled date (i.e. after 12 months).
  • It is now possible for a “sale clause” to be included in the MCT smart contract. The sale clause will entail that where a buyer of the block of MCT tokens makes the decision to sell the MCT token block before the “trustless smart contract hard-coded” date of release, Splyse (who owns the smart contract in this instance) would be required to give their consent to the buyer prior to the MCT token transfer being finalised and subsequently released.
  • At this point in time the implementation of the MCT smart contract with a capability for storage will cost just 90 GAS. This is way lower than the 490 GAS that is usually required for the deployment of a NEO smart contract.
  • With an unalterable and delayed MCT token release date that is hard-coded within the MCT smart contract, it shows NGC’s support and trust in the worth of the MCT token under the NEO ecosystem.
  • The time-based release of the MCT token block provides some legal protection to companies who invest their funds via cryptocurrencies, particularly in those countries with stringent and volatile regulations. According to Splyse, if a smart contract is designed with the assistance of a legal team and with the inclusion of “specialized parameters”, both the seller and buyer in the smart contract will be adequately protected.

With a time-delayed schedule for release, the MCT token will also be made stable over the course of the contract and will equally prevent the possibility of tokens flooding the presiding market. Investors will be able to support a project with their respective token while at the same time having the opportunity to buy several tokens that are yet to be listed on renowned crypto exchanges. Investors will also be able to safely keep hold of their various investments even when there are fluctuations in the market.

In Closing

Splyse expressed their excitement in knowing that NEO Global Capital is confident and fully support the use of the MCT token smart contract, as it will be of tremendous benefit to both companies and developers searching for creative ways to implement smart contracts under the NEO ecosystem. If you want more information about the MCT token smart contract you can join the MCT Discord right here.

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