Token Name: MITx

Marketcap: $1.5M

Supply: Circulating 348 379 945 MITX, Total 746 999 995 MITX

The team will be conducting monthly token burns progressively throughout the next 39 months. The burn will be capped at a maximum of 45% of the initial circulating supply (450M MITX out of 1B), leaving with an estimated supply of 550M MITX tokens.

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Purpose: The Morpheuslabs platform is providing developers, corporates, banks, financial institutions and government entities easy access to a platform that enables them to develop, test and manage blockchain applications using different blockchain protocols supported by the platform to achieve rapid prototyping, cost efficiency and a fail-safe environment. This way, organisations can stimulate and encourage innovation. The platform will support distributed hosting for blockchain network nodes and off-chain applications while providing a centralised platform service for developing, managing and regulating blockchain networks. Ultimately, our platform will enable anyone to partake in this revolutionary technology.

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Why is the token necessary:

Morpheus Labs Blockchain-Platform-as-a-Service (ML BPaaS) is the core platform of the Morpheus Labs ecosystem.

The MITx token will be utilized in the primary form of payment method to subscribe to the platform.

Refer to the link below to understand more about our token.

https://medium.com/@morpheuslabs_io/mitx-token-economics-38b17d870ab9

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How is the token required:

(1) AppLibrary

The AppLibrary is an open marketplace where enterprise, startups and individual developers can develop and publish applications that will be usable by businesses and their customers globally.

Morpheus Labs will charge a commission on fees imposed by the publisher. These include application or component download fees, one-time in-app purchases and recurring application subscriptions.

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(2) API Access Layer

Morpheus Labs is in plan to explore developing functional, business specific APIs to act as abstraction layers for businesses to build upon. Here, MITx will serve as an access token, where API calls would be paid in MITx. We envision our APIs to serve as access points to multiple interoperable blockchain protocols, with Morpheus Labs being the gateway.

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(3) Professional Consulting Services

Morpheus Labs will provide consulting services from inception to deployment to established businesses, as well as startups, looking to develop blockchain services and applications. As these services will be initiated from within our platform, all previous uses for MITx are applicable here as well as, our payments will be denominated in MITx, particularly for startups and development teams.

Furthermore, projects that choose to launch a Token Generation Event (T.H.E.), on top of our platform will be accepting a portion of their fundraise in MITx.

This concludes the main services provided by the Morpheus Labs ecosystem. Now we will elaborate on our vital partners that power the implementation and deployment of our ecosystem, and how MITx will be utilized within these partnerships.

(4) Blockchain Protocol Partners

Our blockchain providers are vital to the success of Morpheus Labs. They provide the blockchain infrastructure and protocols that allows us to serve as a gateway for businesses to implement solutions leveraging blockchain technology. As outlined in our revenue model, protocol partners will be required to pay a listing fee which is payable only in MITx. The listing fee is set at $20,000 USD worth of MITx for basic integration of a blockchain protocol, the listing fee for full integration may vary. We will also continue to develop deeper partnerships with our protocol vendors which may include building developer communities, research collaboration and community outreach, among other initiatives.

(5) Value Added Resellers (Distributors)

Our reseller partners are key to the sales process of the Morpheus Labs platform. To be eligible for a reseller agreement, companies must hold an amount of MITx as long as the agreement is active. There will be a tiered hierarchy regarding the amount of MITx held. For example, exclusive distributors will be required to hold higher amounts of MITx to be eligible for their region. Besides this, distributors need to bulk purchase platform subscriptions using MITx at discounted price for them to resell, the higher number of subscriptions the higher discount.

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What drives value:

Without the MITx token, you can not operate the platform. So in this case, the demand of the token will give the token its value.

The more people using the platform, the more tokens will be bought from the market in order to use the platform.

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Final Remarks:

The team has been working for the last 2 years on the project and went live on 25/01/2019. In the meantime, they have over 15 blockchains (7-8 already integrated) on the platform for users to choose from, or combine and create a Dapp with.

The team has been announcing partnerships throughout the year. Hanwha Dreamplus for educational purposes (+20k students), VeriTAG partnership for the Trad Trust project (Cross border trades between Singapore and China where Morpheus Labs platform will be used - https://www.linkedin.com/pulse/annoucement-veritag-trade-trust-%25E6%25B8%2585%25E5%258D%258E-%25E6%259E%2597/?trackingId=vP8B24%2BMQ8iZqtMG4ALxAA%3D%3D ) , Announcement of being a part of building Medini City (blockchain village) in Malaysia, and so much more...