March 5, 2019 Development

Introducing the Token Holder Program!

After the release of the Loyalty Program, it is great to return with a brand new one—the Token Holder Program!

As you know, all transactions via our payment gateway carry a fee of 1.5%. That is our revenue. At the beginning of each month, one third of the earnings will be shifted to a designated smart contract. Then this sum will be distributed in Monetha vouchers to our token holders proportionally to the number of tokens held. To redeem your vouchers, simply transfer your tokens to the smart contract address on the 1st day of each month. We will return them along with the vouchers within 24 hours.

Monetha vouchers are valid for six months. If unused within that period, they will move back to their respective pools. Please note that the vouchers are not the same as Monetha tokens. They cannot be transferred or sold—their only use at the moment is for purchasing discounted goods on the Monetha platform.

How to participate

This is the first version of the Token Holder Program. As such, it contains only the back-end. We are planning to add a user interface in the future.

Preliminaries

To participate in the program, you need to be a token holder. If you don’t have any tokens, you can follow this guide to buy some.

The program opens on the first day of each month. It means that you can participate in it once in a month—if you miss the date, you will have to wait until the next month to take part.

We recommend using the Metamask extension for the procedure. You can download it from here.

Before proceeding, check how many Monetha vouchers are in the pool for that month. Do it by opening this link and under Option 10, balanceOf, entering the address: 0x4830e1e8D533313d2bb426cF1EF306460f288524

Instructions

On the first day of the month, open the Monetha token contract and enter the following _spender address under Option 1, approve: 0x4830e1e8D533313d2bb426cF1EF306460f288524

In the _value field, enter the number of MTH tokens you hold.

Open the Monetha Token Holder Program contract and select Option 12, participate.

On the next day, open the same contract and select Option 10, redeem. This will return your MTH tokens along with Monetha vouchers.

That’s it! Now you are ready to spend your Monetha vouchers via Monetha’s payment integration.

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