MOAB on IMBA
M.O.A.B is one of the first deflationary crypto-currencies. The initial supply is 20,000,000 M.O.A.B with a deflation rate of 2% burn for every transaction. Opposed to traditional inflationary currency, where the purchasing power of the currency goes down overtime due to the lack of scarcity, our token provides a smart contract enabled way to publicly verify each transaction, coming to an agreement from decentralized computation about the current state of the network. This inherent proof of deflation will be the backbone to our growth, as we continue to branch out into many marketplaces.
M.O.A.B vs. The Current Financial System
Inflation is often referred to as a hidden tax, because it happens behind the curtains caused by a third party (FED).
The current state of fiat currencies now is that they are subject to inflation, which causes the purchasing power of that dollar to go down as the supply becomes more and more diluted.
The solution to this problem is to create a currency Designed the opposite way of the current financial system, a deflationary currency. Deflationary currencies have the ability to reduce the supply of the token through each transaction, thus increasing the scarcity of the token which increase the purchasing power of the currency, opposed to decreasing like with fiat.The smart contract and decentralized infrastructure that the contract is written on plays an important role in making the currency trustless, transparent, reliable, and fair.
M.O.A.B's Initial D'app Overview
The first M.O.A.B DApp will be a wallet. The wallet will allow for users to store their M.O.A.B tokens securely through a desktop/ web application. This is the initial launch application, the date of the launch will be shown on the roadmap. M.O.A.B’s second decentralized application is the M.O.A.B marketplace DApp for converting M.O.A.B tokens into a selection of gift cards. This DApp will enable users to exchange their M.O.A.B tokens directly for a multitude of gift cards at varying amounts. The objective for this application is to give M.O.A.B token holders the ability through a marketplace to spend M.O.A.B on many things they want to consume.
M.O.A.B is intending to build a DApp that integrates Chainlink to fetch the market price data of MOAB/ ETH, which is given back to the smart contract to exchange for a large variety of gift cards. This will give M.O.A.B a wide range of payment options in the world, which will give it utility, and proper volume of transactions, that will drive the deflation.
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