What is Monavale?
Monavale (MONA) is a governance token that is integral to the DIGITALAX platform, a decentralized Web3 fashion and NFT auction exchange platform. The platform aims to bridge the gap between physical and digital fashion, gaming, e-sports, NFTs, and the metaverse, creating a unique ecosystem for users to explore.
The DIGITALAX platform operates on the Ethereum and Polygon networks and is built on the principles of decentralization, free software, and open source. The MONA token is an ERC-20 compliant token and is governed and owned by token holders. The token holders receive a revenue share of the platform and have the right to vote on proposals related to treasury policies and protocol development.
The primary function of the MONA token is to fuel all the primary activities in Web3 fashion. The token is distributed to the community through staking, with no token allocation for the team. 90% of the total supply of MONA tokens has been distributed for staking rewards, while 10% goes to the protocol reserve. Additionally, 1100 MONA tokens have been allocated to the treasury, along with an extra 100 tokens for reward distribution.
The DIGITALAX platform was launched with the Genesis Period (MEET MONA NFT) on November 2, 2020. The platform was created for developers, designers, metaversal pioneers, and modders, and was founded by Emma-Jane MacKinnon-Lee. The maximum supply of MONA tokens is 11,300.
With its unique approach to digital fashion and NFTs, the DIGITALAX platform aims to bring new users to the world of Web3. The platform's focus on decentralization and open source ensures that the community has a say in the development of the platform, making it a truly democratic ecosystem. Through the use of the MONA token, users can actively participate in the platform's governance and receive incentives for voting.
In conclusion, the MONA token is an essential component of the DIGITALAX platform and is used to fuel all primary activities related to Web3 fashion. Its distribution is governed by staking, ensuring fair distribution among the community. The platform's focus on decentralization and open source, combined with the unique ecosystem it has created, makes it an exciting space for developers, designers, and users alike. With the potential to bridge the gap between physical and digital fashion, the DIGITALAX platform and the MONA token have a bright future ahead.
The investment information, comments, and recommendations provided here do not fall under the scope of investment consulting. Therefore, making an investment decision based solely on the information and comments provided here may not yield results that meet your expectations.
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