In just under 10 hours, Mithril and Machi X will launch their first of 10 AtomicDrops to the Mithril community.
Machi X, a social crypto exchange for tokenizing IP, is Global Mithril Forge Fund’s first investment. As part of the “Forging” process, Machi X and Mithril will co-create additional utility as partners, starting with providing trading fee discounts for users paying for trading fees in MITH.
What is Machi X?
Machi X is a cryptocurrency exchange focused on realizing the value of intellectual properties. They are building an easy-to-use, cryptocurrency exchange that will (i) enable creators of intellectual properties to issue rights to their property, (ii) enable people who appreciate the value of these intellectual property to invest into and own the properties listed on the exchange.
It will have three main functions:
- Tokenization of Intellectual Properties
- Service Contract Modules
- Investment Socialization and Discovery
What is the MCX token?
With the launch of Machi X, the Machi X token (MCX) will be created.
MCX is a platform utility token that will be used as the primary currency pair for intellectual properties listed on Machi X. It is an ERC20 token and can be used for trading fee discounts and rebates, community voting, access to VIP services and more.
Additionally, for a yet undisclosed time, during the initial launch phase, the exchange will use up to 75% of trading fees collected to support the projects and its community. This benefits makers, takers, holders, voters and stakers. Machi X will support 100% of the projects listed on the exchange by investing MCX into each of them.
People behind Machi X
Machi X has a strong team leading it, backing from prominent funds, and some great advisors on board.
The co-founders are Jeffrey Huang, the founder and main man behind Mithril, and Jason Fang, managing partner at Sora Ventures.
Advisors include Stanley Huang, celebrity, singer, and actor; David Lee, Director of Widus Partners; and Rio Peng, CEO of The Dow Cultural & Creative Co.