In this blog, we will describe in detail various aspects of our new project. We will explain why we made certain decisions, and we will answer frequently asked questions. Today’s post is about why we decided to create a new application, why we’re confident it will be popular, and most importantly, how blockchain helps us with this.
Why did we decide to create a user platform? Why do we need blockchain and our own token?
We’ve had the idea of creating our own application for a long time. We’ve analyzed everything offered on the market today. In studying the competition, we identified issues that we found entirely unacceptable. Then we came up with solutions to improve or fundamentally change projects by applying our years of experience.
It was perfectly obvious to us that a platform can only succeed if users themselves generate all the content. But today’s popular websites don’t provide incentives to their users, despite the fact that these websites live and prosper thanks to their users. So we decided that because our authors are among the best creators in the world, they should be rewarded for their work. Only by working together will we be able to grow the community.
But then we asked ourselves, how will be pay our users? Creating internal bonuses in the system would be nonsense because there wouldn’t be any trust in the platform. Users can’t withdraw internal bonuses. They can’t exchange them, and the value of such bonuses wouldn’t be backed by anything. The platform could issue millions of them each day. Then suddenly we were hit with the idea of a distributed ledger. We realized that we could issue our own tokens, which would have real value that users would understand. And we’re confident that such a reward will succeed in motivating talented boys and girls to create.
Then why not simply use BTC or ETH? After all, they also have clear value.
There are three reasons. First, by issuing our own token, we will be less dependent on external fluctuations in BTC and ETH exchange rates. The MDK exchange rate depends on the growth of the application’s user base and the token’s trading volume within the application.
Second, this gives an additional incentive to early token owners to develop the platform and join as quickly as possible, since the tokens they earn will be worth more in the future.
Third, issuing our own tokens and reserving some of them to motivate early users solves the problem that would arise if we rewarded these early users before a sufficient number of advertisers join the system and the economics closes.
Sounds logical? Then why do we need a public token sale?
It’s all very simple. Developing any product costs money. We intend to spend roughly $2 million to develop the platform in the first three years while the project reaches the break-even point. Some money will go to administrative expenses, system maintenance, and settling legal questions in various countries. Moreover, considerable spending is required for marketing and attracting new users to the application. These are huge amounts of money that any company would find difficult to pull out of its cash flow. A token sale is an excellent alternative in this case. The funds will significantly accelerate the development and widespread launch of the new product.
Furthermore, a token sale will instantly create value for MDK tokens. The first users of the application, who will be able to earn MDK tokens right away, will realize that this is a liquid asset that has already been purchased by many others, an asset that has a price and that can always be sold.
We considered every possible option for running the platform without our own token, and they all had substantial shortcomings. Accordingly, we believe that creating and integrating the MDK token into our platform is the best and only solution. Our own token will make it possible to not only unite people within the platform and help them interact but also reward users for helpful actions and motivate all users to work together to grow their global community.
MDK Team.
Russian version: https://goo.gl/WXmzgT
Links.
Web site: https://mdk.is
Chat: https://t.me/mdkico
