Mobu is an ICO platform that intends to cover the most basic shortcoming of security crypto tokens. In the last few years since the cryptocurrency scene has expanded exponentially, the biggest tussle with cryptocurrency tokens and regulatory bodies has been the nature of tokens themselves. These tokens offered through ICO have the same characteristics of securities. However, since laws are silent on the digital versions of securities, this can be a nightmare for developers. There are many cases where one jurisdiction has declared tokens to be utility, while another has ruled that they are securities and as such, must be backed by the same rules as traditional ones.
How Does Mobu Works?
Mobu, with its legal and technological expertise, intends to provide services to decentralized startups that want to launch their initial coin offering within the legal framework of the tokens as securities. The platform does this by:
- Bridging the gap between security markets and blockchain.
- Facilitating the release of compliant tokens that are backed by real assets.
- Clarification and confidence to investors such as their rights and claims.
- Restricted sales to verified buyers, which is in line with SEC and other regulatory authorities.
- Gives voting rights to investors, dividends, liquidity and all aspects of traditional securities.
The developers of Mobu watched the cryptocurrency and token market explode with hundreds of platforms with their ICOs. Although the ICOs are able to raise an immense amount of funds, nearly none gives investors the rights they deserve. Of the 86 ICOs launched in Q1 of 2018, they were able to raise a collective $3.4 billion. Yet, only a couple of them were security tokens, with all others declared as utility and investors having no right or claim on the platforms.
The team decided that the time was ripe for security tokens to enter the market. Consequently, the Mobu platform was born. Its founder and CEO, Juan Engelbrecht leads the Mobu team. He has a decade worth of experience in the financial markets. Starting as an equity trader, he rose in ranks and gained a lot of experience as an asset manager and then eventually Director of some major firms, including Sharia compliant funds for the billionaire Mia family.
His experiences in securities and equity trading made him realize that the blockchain sector had a serious drawback when it came to legal compliance with security trading. His expertise in the traditional securities market has enabled him to develop Mobu, the platform designed to help other ICOs launch in a compliant environment.
The MOBU Token
To power the legal compliant ICO platform, the team needed its own native token that would be the essence of all that would work on the platform. Mobu token is an ERC20 compliant token that will be used by users to obtain other security compliant tokens. Only representing a service to help others release digital securities, the token itself does not require any asset backing and as such, is a utility one.
Mobu token will start its pre-ICO stage on 1st of September, 2018 which will run for 15 days. The main event will kick off on the 1st of December that will last till January 2019. The token will be available for a standard price of USD 0.15, with varying bonuses of up to 20%. Having a hard cap of $35 million, any tokens not sold will be burnt to protect investors against inflation.
Investing in Mobu
To become an investor, any interested party will first need to sign up on the platform, signaling their interest in the token. There is a whitelisting where each investor will need to go through strict KYC and AML checks. This is the most important factor of all, since the whole platform, in its pursuit to comply with security laws, needs to have each backer and investor properly verified to enable them to buy and trade securities.
Once the registration and checks are complete, investors can buy the token during the sale stages. The pre-sale phase may have some restrictions, like most other ICOs, but as of now, none is declared yet. The public sale will also be an opportunity to invest but will carry lower bonuses.
Apart from investing in the discounted rates during ICO stages, users will be able to acquire the tokens when they are listed on exchanges. Eventually, when the platform goes live, users will be able to trade for the tokens directly on it.
Like all other tokens, the growth of Mobu is not guaranteed. The platform holds no responsibility for the devaluation of Mobu due to the high volatility of the crypto market, lower demand, competition, interruption in the main Ethereum chain or other unforeseen circumstances.
Mobu token carries the same risk profiling as any other Crypto token and should be invested in with a clear understanding of the market and the project.
For more information, visit the Mobu website: https://mobu.io/