What is Monolith?
Monolith is a decentralized banking alternative that allows users to manage their digital assets securely on the Ethereum blockchain. It provides a non-custodial contract wallet that ensures maximum security to store Ethereum-based tokens.
The Contract Wallet is open-source, decentralized, and non-custodial. It is designed to provide advanced security features to protect users' funds in the event of a security breach or attack. Users can safely store and manage their tokens in the Contract Wallet, and easily exchange them to fiat currencies. They can then load their Monolith Visa debit card, which is accepted globally, with the fiat currency.
Currently, the Monolith Visa debit card is available for European Economic Area (EEA) residents, including 31 countries within Europe. The card is accepted at any location that accepts Visa debit cards, making it a convenient option for users looking to use their digital assets for everyday purchases.
The Monolith token, TKN, is a digital asset that gives community members an opportunity to participate in the success of Monolith. TKN is backed by a growing basket of ERC-20 tokens that people use to pay for everyday purchases.
Each time a Monolith card user spends any token other than TKN, a 1% contribution is sent to the TKN Community Chest. Holders of TKN can cash and burn their tokens at any time to redeem their share of the chest.
By holding TKN, users can benefit from the success of the Monolith platform and earn rewards for their participation. The TKN token is also tradeable on various cryptocurrency exchanges, providing users with additional flexibility.
Monolith's goal is to provide a decentralized banking alternative that allows users to securely manage their digital assets and participate in the growth of the platform. The Monolith Visa debit card and TKN token are just the beginning of the platform's journey towards revolutionizing the banking industry.
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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