NEO and NEP-5 token holders recently received a free airdrop for MCT tokens and they are now tradeable for the first time since the creation of the tokens on an obscure exchange called Hotbit.io. Since trading opened only hours ago, currently the market is trying to discover the price of these tokens.
MCT TOKENS
MasterContract Tokens (MCT) are a very interesting airdrop because of several reasons. Firstly, the token serves a real use-case in that it decreases the cost of launching a smart contract on NEO from 500 GAS to only 90 GAS which is a 82% discount which amounts to thousands of dollars worth (since 1 GAS is currently priced at $15).meansSecondly, the airdrop is significant because 100% of the supply (total: 580,000,000 MCT tokens) was airdropped to the community. That means there are no ICO-whales to dump and the token distribution is much broader than most projects. It also means that each individual person who received the airdrop actually got a significant amount of the total token supply, which implicates a substantial amount of value.
MCT tokens were airdropped to all NEO wallets who, at any point in time, owned or transferred NEP-5 tokens. For each type of NEP-5 token, each NEO address was airdropped 1000 MCT. For example, if you had at any given time before the snapshot, some TKY, some QLC and some ONT, you will have received 3000 MCT. Read more about the MCT token airdrop in a previous post I wrote about it.
HOTBIT.IO
Let me first state: I've never heard of this exchange. A look on Coinmarketcap reveals that it is the #55 cryptocurrency exchange out there by volume. I can't vouch at all for this exchange and to be honest I am extremely skeptical of small, obscure and unknown exchanges such as this. It reminds me of Bitgrail (which got hacked and lost a ton of NANO, or XRB at the time). Be very careful and enter at your own risk.That being said, MCT is now officially traded on an exchange and that is good. The listing occurred several hours ago and price discovery is now in progress. The current price of MCT is about $0.03 per token which means that currently you can sell a 1000 MCT for $30 each. The price is still very volatile as not everybody knows about the possibility to trade here, and of those who do know it many of the people who received the airdrop are taking the chance to cash out their free money.
I personally am not selling at these cheap levels yet : considering the savings that MCT bring, the hype surrounding the project within the community and the fact it's a fresh listing, I believe I will be able to sell for a much better price at some point after we go through an initial dump phase. And besides, I don't really trust this exhange. I'd rather make a trade on the NEO based DEX Switcheo which, by the way, should support the Ledger Nano S within a day or two.
If you can't tell, I'm pretty excited about these airdropped MCT tokens. Compared to the usual $5 airdrop, I truly believe the MCT airdrop is a lot more significant in value simply because it has a super clear-cut use-case coupled with the fact the entire supply was airdropped. Especially the latter part makes me believe the value could be huge: each 1000 MCT airdrop is 1/580,000 of the entire supply. An example: if the total market cap of MCT ends up at $50 million, then each 1000 MCT airdrop must be worth $86. If you received more than one batch of 1000 MCT, this can quickly add up, especially when you consider that $50 million isn't that huge of a market cap - it could end up higher at some point.
Though, despite my enthusiasm about this airdrop, I have to be honest in that I have no intention of actually HODLing these tokens for very long. I see their value, I just don't have use for them. I'd rather get some more of something else that I do want to HODL.
Have you received any MCT from the airdrop? Have you decided on what to do yet or what price you're looking to sell for? Please do share!
My own personal ideal selling-point is anywhere between $0.20 and $0.50 per token.
just sold 15,000 mct from airdrop at 0.03$.. am so happy.. crypto is bae
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Congrats! Free money, yay! :)
And not a bad catch at all, considering it was free!
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Very Interesting I didnt have any so not something i can follow up but always good to know
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Are you sure? Maybe you have some NEO somewhere? If so, there's a chance you may have been airdropped ONT once. And if that's so, you'll have gotten MCT for the ONT. Be sure to check your wallets if it applies.. don't want to leave free money laying around!
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I wish I did but I only have a small collection of coins and none of those
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i am also holding
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i recieved 3000 tokens and i also have 2000 tokens in my binance account but not sure that binance will give us those tokens or not...by the way i am happy with 3000 tokens and i will wait till the price go up
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