CoinMetro ICO (XCM Token)

As many of us know by now, the crypto economy engine has matured to a point wherein, it is now actively influencing the way many people do business on a day to day basis. It comes as no surprise that the ‘financial sector’ is leading the way in terms of blockchain and digital assets. However, there is still quite a gap between traditional and newer digital assets that needs to be bridged in order for a digital economy to become a reality.

About CoinMetro

CoinMetro is an upcoming platform that is being developed to serve as an “all-in-one solution for all our crypto needs”. It features a user oriented interface that allows not only increased mobility, but also make it easy for new customers to make investments in the world of crypto technology. Some of the main aspects of CoinMetro that really make it stand out include:

All of the aforementioned services will be accessible via a ‘streamlined web application’ that will come loaded with a user friendly interface. At this point, it should also be mentioned that CoinMetro will be using its own native token for performing internal transactions. It will be called COIN, and will be fully ERC20 compliant..

What Has CoinMetro Planned For The Future?

(i) Direct Payment Portal:

Through the use of the CoinMetro platform, users will be able to make Cryptocurrency and Fiat payments to customers located in any part of the globe. As a result of this, CoinMetro will be able to serve as a direct link between users and other third party clients. Also, the company has mentioned that they have registered their business and obtained an eMoney license, that allows them to operate in a completely legal manner

(ii) Personalized Debit Card:

Another step taken by the creators of this platform to make monetary transactions seamless, is the introduction of special debit cards that can allow users to make purchases in an easy, hassle free manner. According to the company’s vision, the plan is to deliver debit cards that allow users to “access their cryptocurrency/ fiat wallets to withdraw cash instantly at certain ATM locations worldwide”.

(iii) EveryDay Use Digital Platform:

Through the use of the debit card, users will be able to make everyday purchases like buying a cup of coffee, purchasing a pack of cigarettes (via crypto currencies). The CoinMetro platform has been designed in a way such that all orders are performed instantly, and any conversions that are needed are also performed immediately. Lastly, if the default account has insufficient funds, any secondary accounted linked to the system will be immediately deployed.

(iv) Risk Elimination Protocols:

In order to minimize any loss of funds through market risks etc, the company claims that ‘Position losses will be covered by assets that are present in the trader’s margin wallet’.

Token Sale Details

According to the company’s official whitepaper, the total number of tokens that will be issued has been set at 500,000,000 units. The native currency will be abbreviated as COIN, and will be used to perform all internal trades and transfers.

In terms of the token distribution scheme, the following breakdown will be adhered to:

  • 50% of all tokens will be made available during the Token Sale period
  • 20% of the total currency will be used to maintain good fund Liquidity.
  • 10% of all tokens have been reserved for CoinMetro Team members and Shareholders.
  • 7.5% have been reserved for the distribution of Community Rewards
  • The remaining 12.5% of tokens will be used to cover for Advisory Compensations and the Public Pre-Sale.

After The Sale Has Concluded, The Collected Funds Will Be Used In The Following Manner:

  • 40% of the revenue will go towards improving/ further developing the platform.
  • 30% of all collected money will go towards marketing and promotions so as to increase the market appeal of this platform.
  • 20% of funds will be used for creating a war chest, and to factor in the possibility of things like buyouts, takeovers, acquisitions, etc.
  • The remaining 10% will be used to cover legal fees.

Pre-Sale:

The Pre-Token Sale is scheduled to start on the 21st of December. During this period, the price of a single token will start at 0.03 EUR. In addition to this, the value of a single token will continue to rise by 0.02 after every 12,500,00th COIN is sold.

Lastly, there has been a hard cap of 50 million Coin that has been set for all prospective investors.

Regular sale:

During the regular crowdsale (which will commence after the closure of the pre ICO), the price of each COIN will start where the pre-Token Sale left off. In more basic terms, we can see that the maximum initial price will be maintained around the EUR 0.11 per COIN mark.

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