NEO Global Capital (NGC) has recently invested in Splyse’s Master Contract Token (MCT), by purchasing a block of MCT tokens. The investment serves as a signal of NGC’s belief in the “long-term viability and diversity of use cases for MCT,” and its supporting role in the NEO ecosystem.
The smart contract code has been embedded with a function that will require NGC to hold the tokens for one year.
Since its inception, the MCT token has been able to do the following:
- Support a written agreement between two parties.
- Use smart contracts to hold the token block in safe and transparent storage.
- Include sales clauses written into contracts, that require the owner of the contract (in this case, Splyse) approve the buyer before a token release and transfer can be finalized.
- Deploy a smart contract at a costs of 90 GAS (as opposed to 490 GAS).
- Include unalterable release dates hard-coded into the smart contract. In this case, it implicates the support NGC has in the MCT token and its value for developers within the NEO ecosystem.
Beyond the implications of trust and value embedded within the MCT token, the time-delayed release of the token block “serves as a legal protection for companies making investments through cryptocurrencies in countries where regulations are in flux.” For example, for NGC’s purposes in the United States, the time-delayed release code “provides a safeguard to the existing laws in place by the SEC.”
Beyond working within the confines of various regulations, a delayed token release might stabilize the value of a token, and reduce the potential of mass token release into the market.
On the investment from NGC, the Splyse team stated they’re “grateful for the support and confidence shown in MCT by NEO Global Capital. Knowing that MCT has a more prominent place in the NEO ecosystem will also benefit many developers and companies looking for innovative ways to deploy the very smart contracts that power this NEO Smart Economy.”
An example of how MCT has recently been adopted by developers is SmartT, a smart ticking platform that utilizes built on nOS.
For more information about MCT or NGC visit the links below: