In order to celebrate the Pre-ICO Launch, we've decided to start off with a fresh bitcointalk account.
m a g n a l i s
S C A L A B L E P A Y M E N T G A T E W A Y
a decentralized medium for merchants & individuals
Slack, Telegram & Blog: Coming April 2018
What is Magnalis?
Magnalis is a decentralized medium for retailers, merchants, exchanges & individuals. The upcoming Magnalis app allows anybody to pay for anything with any cryptocurrency of their choosing. Users of the Magnalis app will be able to trade cryptocurrencies at high speeds with the shortest transaction times in history. Through the power of coopetition and smart scaling, paying somebody is always optimized to make the most sense. Why pay for a coffee with Bitcoin when Ripple or another coin makes sense? Instant cryptocurrency trades take place immediately before payment so the process goes smoothly. When a transaction is made through Magnalis, the transaction confirmations are handled through back-end systems which allow the user to enjoy life more. No need to worry about exploits or wondering if your payment went through 10 hours later. No more waiting hours for confirmations. Just pay and go on your way.
With COSS & BitPay support, flexibility is on your side.
What is Coopetition?
Coopetition is a term derived from the words Cooperation and Competition. While Magnalis is it's own system and has it's own network, the team believes in friendly competition and constant cooperation between other platforms. The upcoming flexibility and support between other payment platforms is a strong example of coopetition. With new projects being worked on all around the world, it's important to join together in order to truly push the next wave of technological advances forward.
5G Transaction Mining
This isn't mining in the traditional sense. When the 5G Cellular Network launches in late 2018, users will be able to donate a small amount of their cellular data to aid the Magnalis network. Users are rewarded in MGNS tokens which can go towards transaction fees.
Smart Scaling
If you make a payment at a Magnalis or COSS-supported retailer, the Magnalis app takes the amount due into consideration and creates a solution that is low in cost & quick. For example, a $1 coffee shouldn't be paid in Bitcoin but a coin like Ripple or Dogecoin would work perfectly. What if you don't have any Ripple or Dogecoin tokens? Magnalis, using A.I. at it's core, completes a crypto-trade on an exchange in seconds, gets you the best price for the token and uses that token as a form of payment. If the retailer has issues with this form of payment, a trade between that token and USD is able to take place. This may sound complicated but it all happens with the tap of a screen.
ERC-20 Compliant Token Sale
Magnalis currently has 2 separate tokens.
The first token is Magna (MGXL) which is the first token to be awarded to early investors.
During our private seed round, MGXL was $0.25 each where we raised $200,000.
During our Pre-ICO, each MGXL is $0.30 each until the end of March 2018.
When April 2018 comes around, each MGXL will be $0.60 during the Public ICO.
When Token Distribution comes, each MGXL is estimated to be worth around $0.90 each.
We have been offered by 5 popular exchanges to make MGXL for trading and we will announce these exchanges in April 2018.
There are a total of 10,000,000 MGXL Tokens.
Our second token is Magnalis (MGNS) which is the backbone for our vision.
There are only 1,000 MGNS tokens in existence and is only obtainable through the MGXL/MGNS Trade Event in September 2018.
10,000 MGXL tokens = 1 MGNS token.
Current Magnalis Roadmap
December 2017: Private Investor Sale Completed
January 2018: Pre-ICO Begins
March 2018: Pre-ICO Ends
April 2018: Public ICO Begins. One-Pager, Telegram & Slack become live.
May 2018: Public ICO Ends and Tokens are Distributed. MGXL Launches on 5 exchanges.
July 2018:Testnet Launch & Announcements
September 2018: Beta App Release, Partnership Announcements, MGXL to MGNS Trade Event.
Basic Magnalis Pre-ICO Facts
Token: Magna (MGXL)
Token Supply: 10,000,000
Tokens Sold in Private Sale: 800,000
Tokens Sold so far in Pre-ICO: 743,000 (updated daily)
Price per MGXL: $0.30
Pre-ICO End Date: March 29th, 2018
Public ICO Start Date: April 3, 2018
Public ICO End Date: May 13th, 2018
Soft Cap: $3,000,000
Hard Cap: $6,000,000 (Token Sale will stop immediately if cap is reached)
Q&A
Q: What happens if all 10,000,000 MGXL are sold during the Pre-ICO?
A: In the unlikely event of this happening, Pre-ICO sales are capped at 6,000,000. The Pre-ICO will be stopped if 6,000,000 tokens are sold during this time period. The remaining tokens that haven't been sold will be available during the Public ICO in April.
Q: What happens when both the Pre-ICO and Public ICO have ended and all 10,000,000 weren't sold?
A: If there are leftover tokens that haven't been sold, they will be divided evenly among all of the participants in the Pre-ICO only.
Q: How do I join the ICO?
A: Head over to https://magnalis.network and register to become an official investor.
Once you sign up, you'll be able to invest with Ethereum or Bitcoin.
Q: Will you be able to mine MGXL or MGNS?
A: Since MGXL and MGNS are ERC-20 Tokens, they are unable to be mined.
We do have a feature called "5G Transaction Mining" which allows you to earn or "mine" MGNS tokens by donating a small amount of cellular data.
Even though we call it mining, it isn't true mining in the traditional sense.
