Legitimacy goes first
We are living in the world of scams. That is why I am always looking into peoples bio. It is important to know who are you trusting with your crypto. Let's start with the most important person, a CEO.
Daniel Mark Harrison Forbes profile: https://www.forbes.com/sites/daharrison/#7ee4f8157df6
When you see people like him behind this project you can be sure that it is worth a closer look.
Now what is the Monkey Capital project?
Monkey Capital is a Value Coeval. A Value Coeval is a specific structure within which a consortium of enterprises acts in partnership with one another to form a Blockchain-enabled capital markets solution.
MNY Have Intrinsic Value Since Monkey Capital Is Run By Profitable Partners. The founders of Monkey Capital have already spent collectively over $5 million on the business, and in the MNY ICO they will invest more millions in assets.
Monkey Capital is a fund management aggregator for high quality regulated funds. We take money from the world and put it in the most interesting innovative places and generate returns. The COEVAL is the currency via which we pay those returns out and the MNY is the one that generates the returns. We have a UK public company annexation which enables us to constantly raise capital in a way which only continues to embolden the returns of token holders. If you want to play buy COEVAL now and you will have both the currency of the project (which can only increase as the project becomes bigger) and a disproportionate amount of MNY tokens which pay out more of that currency over time as the funds earn money.
Check their White Paper to get more info:
https://www.monkey.capital/docs/MC_Whitepaper.pdf
How does the Monkey Capital ICO works?
Well it's a bit complicated at a first look. They have already released a token called COEVAL which is available at Waves platform.
Wth why do I need a token before ICO?
Well this is what we call a pre ICO token. 1 COEVAL will get you 10 000 Monkey Capital Tokens (MNY) during the ICO. MNY is placed into wallets that contain COEVAL. You keep the COEVAL.
Now what does it mean.
COEVAL currently trades at around 0.1 BTC. There are 65 000 COEVALS.
But 16 000 are locked up on ice.
So there are 49 000 left.
1 COEVAL = 10 000 MNY.
And there will be 1 000 000 000 MNY
So 49 000 COEVAL = 490 000 000 MNY and accounts for 49% of it's market cap.
If 1 COEVAL is now 0.1 BTC then 49 000 COEVAL = 4900 BTC
4900 BTC equals roughly 10 000 000 USD.
During the ICO there will be a standard crowdfunding where you can send them BTC, WAVES, ETH, LTC ,XRP, COEVAL.
If the ICO of remaining 51% MNY will rise 100 000 000 USD then one COEVAL will be worth 1 BTC.
Why?
Because COEVAL is one of the tokens in Monkey Capital structure and will be used to pay dividends to investors. So if the MNY ICO succeeds it automatically rises COEVAL value.
If the ICO rises only 10 000 000 USD then the value of 1 COEVAL should stay at around 0.1 BTC.
But keep in mind what I told you about COEVAL before! You keep it. You will double down your value. 1 COEVAL + 10,000MNY = 20,000MNY of value
You can see COEVAL price changes at the Monkey Capital website: http://monkey.capital/
To sum up.
COEVAL is core/backbone token of Monkey.capital ecosystem:
- it's a presale of the ICO
- it gives you 10k of MNY for 1 Coeval
- Monkey.capital will pay dividends on all tokens via Coeval so holding Coeval now you get a discount, you get MNY tokens for free and you enjoy great increase of value later when Monkey.capital distributes dividends. It makes sense to hold MNY as long as you can, as you get as you get more Coeval with it
ICO details
Start Date: 8th Aug 2017 12:00 UTC
End Date: 9th Sep 2017 12:00 UTC
Accepting: BTC, WAVES, ETH, LTC ,XRP, COEVAL
1 COEVAL = 10,000 MNY @ ICO
You can get a bounty!
If you join their Slack: https://mkinvites.herokuapp.com/
And then use this form to submit your details: https://goo.gl/forms/GMaqwj47wkG6ERVu2
Use this link to see your entry: https://docs.google.com/spreadsheets/d/1dptx5KQjiPLZ2kyo-TxDIBHaXmtI6TZlWazas-g4WuE/
Rules:
1: You must register a real account, and only one reward per slack user and bitcointalk user.
2: Be active at least once a week.
3: Fill the Form above with your slack username and bitcointalk username, submissions will be manually verified.
Bitcointalk bounty: https://bitcointalk.org/index.php?topic=2010103.80
Important links:
Official website: http://monkey.capital/
Official Slack: https://mkinvites.herokuapp.com/
Reddit: https://www.reddit.com/r/monkeycapital/
White Paper: https://www.monkey.capital/docs/MC_Whitepaper.pdf
Bitcointalk ANN: https://bitcointalk.org/index.php?topic=2003741.20
Bitcointalk bounty: https://bitcointalk.org/index.php?topic=2010103.80
Follow me on Twitter: https://twitter.com/dawid_rams
My Bitcointalk profile link: https://bitcointalk.org/index.php?action=profile;u=983261
Great project. Decided to read the white paper and invest some Waves when the ICO begins. Nice article too!
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Maybe you want to get COEVAL before instead? See my second comment in this thread.
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Great post! I will look into that. Great research done here!
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Thank you for your honest opinion. I'm glad it helped you. Followed bro.
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I am wondering if the timing is not quite perfect. Btc is heading Aug1. all cryptos are now in uncertain situation. the ICOs will probably be affected.
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seems interesting but I need to read more about it. Mostly I dont understand one thing:
The ICO will be available to BTC, WAVES, ETH, LTC ,XRP, COEVAL holders. But IF you "pay"/join the ICO with Coeval tokens then you get 10.000 MNY (tokens of the fund ICO) basically for free? You just prove you own COEVAL and they will reward you with MNY?
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Investing in COEVAL is basically a pre-buy of a certain NUMBER of MNY. During the sale the remaining MNY will go to those people who contribute nom-COEVAL tokens and the number received will be VARIABLE relative to how much each individual contributes.
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This sounds like printing money and almost too good to be true.
Currently 1 COVAL sells for 115 WAVES on the Waves DEX. That's an equivalent of approx. USD 330 (more than the 0.1 BTC stated above). And a total market cap for all available 49,000 COEVAL of around $ 16.1 Million.
The detailed description of the COEVAL token reads different (directly taken from the description in the Waves DEX) :
COEVAL is a DMH&CO-issued token that has the following attributes: 1. It can be bought and sold on WAVES platform 2. It can be exchanged at 80% discount for any tokens issued by DMH&CO affiliate entities (on top of any early-bird discounts and/or bonuses issued by such entities) 3. It can be sold back to DMH&CO after 12 months for double its Issuance Value payable in ETH at current market price 4. DMH&CO may issue a mandatory call-up and/or repurchase of COEVAL tokens. In such an instance, the tokens must be sold for the equivalent value of 2) and 3) combined (i.e. they must be sold for 80% discount to token issuance value and double the issuance sum paid or double the previous one-week moving average market price of the tokens – whichever is higher – paid out in ETH)
It does say exchange. That neans you don't get to keep the COEVAL and get additional MNY.
The rest, I'm not sure what it exactly means yet :D. The Whitepaper does explain it a bit simpler (basically confirming what you wrote above).
My personal problem is however, before investing in something I'd like to understand it fully. Unfortunately, this crazy monkey is quite complex...
Is it confirmed, that they first raise all the money during ICO in August and after the final amount collected they assign the tokens accordingly? A bit like the EOS Round 0. Sold 200.000.000 token for whatever amount comes in during the sale period.
If that is the case this COEVAL for $330 each could be a steal. They will collect more than $100 Million.
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Seriously, I have problems understanding something here. Please help me. Look, my challenge to understand the logic is the following: Why does COEVAL exist in its current form?
My main problem is the folloowing sentence from this article https://www.cryptocoinsnews.com/harrisonsons-vc-ico/
The difference is that this one has even got the mainstream press taking Crypto listings seriously, with some speculating that Monkey Capital will raise up to a billion dollars, a result which would make the token the first 10-figure crowdfunded campaign in history.
Let's do the math. If they raise $1 Billion during ICO, each of the remaining 500 Million MNY tokens will cost $2. So far, so good.
What does that mean for buyers of COEVAL tokens?
Current price of 1 COEVAL approx. 115 WAVES = $ 330
As 1 COEVAL = 10.000 MNY tokens, that results in a price of $ 0.033 per MNY.
Participants of the ICO would pay 60 times more than current buyers of COEVAL ( $2 vs 3.3 cents). In other words: Invest $100 in COEVAL today, receive $6,000 in MNY on Sept. 9th. Does that make even sense?!?
Well, I don't think Monkey Capital will raise even close to $1 Billion during ICO (100 Million would be nice though). But the pure fact that many people think it could happen raises the question, why do they sell the COEVAL so cheap and attach half of all MNY to that token?
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Daniel Harris have replied on Slack to yout question:
It is the press, not a scientific analysis
I have consistently said COEVAL should be priced at 1 BTC - not here. Several people have asked for the basis of my post-ICO forecast of 4 BTC; here is the answer (sorry, just no time to go into it before)
None of it makes any sense, yes, it's a steal, yes, that is why I still buy up some by the clump here and there ... you'd re right. Too Good? Yes. True? Yes. So I wouldn't count on it being this price for long (this also explains why it went from 0.001 to 0.1 in days - same thing will happen again. Let's just watch.)
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Does the slack channel still exist? I was in it but it seems my account was deactivated. No idea why? I know you were in the channel too. I honestly have no idea why my account got deactivated....I enjoyed reading the posts....
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need to do more homework on this, thanks for sharing
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