All You Need To Know About Monarch Promo Tokens (MTP)
Monarch Blockchain Corporation is creating an innovative blockchain ecosystem that offers a variety of financial, payment, and regulatory tools for businesses and consumers. This ecosystem will be powered by a two-token ecosystem, Monarch Security Tokens (MTS; only available to accredited investors where and when legal) and Monarch Utility Tokens (MT). The two following tokens have the following roles in Monarch’s ecosystem:
Guide To Monarch Promo Tokens (MTP)
During Monarch Blockchain Corporation’s Token Generation Event, a temporary token has been introduced, called Monarch Promo Tokens (MTP). MTP have no monetary value; they serve as a “placeholder” for those who have worked towards building and promoting Monarch’s ecosystem while the token sale is in place. MTP will not be traceable on any exchanges during or after the Token Generation Event. 7-14 days after the TGE is over, all MTP holders will be airdropped Monarch Tokens (MT) in a 1:1 ratio. If you currently hold 250 MTP, you will be airdropped 250 MT at the end of the token sale. If this guide does not give you the answers you need, join our community channel and ask our Moderators any questions you have.
- MTP IS AN ERC20 Token. This means the tokens were built on the Ethereum (ETH) network. Any wallets that support ERC20 tokens can store your MTP. MTP holders are encouraged to download the Monarch Wallet on Android, iOS, or desktop, so Monarch Blockchain Corporation can guarantee a secure airdrop of your Monarch Tokens (MT) after the end of the TGE.
- You Need Ethereum To Send MTP. Because MTP is built on the Ethereum network, you will need to have Ethereum in your wallet to cover gas fees (learn more here). Despite the Monarch Wallet taking no fees for sending or receiving cryptocurrency, the Ethereum network does require small amounts of ETH to send transactions.
- Send Your MTP To Your Ethereum Address On the Monarch Wallet. Because MTP are ERC20 tokens, your Ethereum (ETH) address on your Monarch Wallet is the same as your MTP address. Click the “Receive” button on your Ethereum Wallet or Monarch Promo Token Wallet to find your public address.
- MTP Has No USD Value. No matter how many MTP you have in your Monarch Wallet, the USD value will be $0.00. The number of MTP you hold is displayed just under the USD value, which is the only number that matters during Monarch’s TGE until MT are in circulation.
- MTP Is Not Tradable: MTP are used during Monarch’s TGE, and no time afterwards. After the MT airdrop, MTP will have no utility inside or outside of the Monarch Ecosystem. MTP will never be available on any exchanges or tradeable for any other cryptocurrencies.
- The MT Airdrop Will Be Automatic. You do not need to prepare for the airdrop, no additional effort is needed. As long as you hold MTP in a Monarch Wallet, you will automatically be airdropped your MT 7-14 days after the TGE. The Monarch Wallet will also add an MT wallet, so you do not need to add a “Custom Token” to receive your Monarch Token.
- The MT Airdrop Is A 1:1 Ratio to MTP. The number of MTP you have in your wallet is the number of MT you will have in your wallet after the airdrop. If you have 250 MTP in your Monarch Wallet, you will be automatically airdropped 250 MT.
- The Airdrop Will Tentatively Happen 7-14 Days After The TGE. Monarch Blockchain Corporation’s end of TGE is Tentatively scheduled for 12/31.