The MYND Token

TOKEN ECONOMICS

With the introduction of MYND into the business model, the incentive to use Myend becomes significantly stronger. On top of Myend’s existing strengths, the addition of MYND provides additional benefits and enhanced user engagement.

MYND features front-and-centre in our unique selling proposition to users. It can be used as an additional method of payment for e-will updates, or as the sole payment method for notary services. It can be used for access to enhanced rewards, or directly recouped for the equivalent fiat value on partner exchanges.

MYND Token details

• Total supply: TBD

• Circulating Supply: TBC

• Asset on the XXX Chain ?

MYND’s functionality makes it critical to the success of Myend. The interplay of MYND use cases is designed to encourage loyalty to the Myend platform while increasing distribution and liquidity of the token. Each functional aspect of MYND is covered in more detail below.

Payments

Users can pay for services using MYND which can be purchased directly from the open market or obtained from Myend’s rewards and invite programs. Key benefits of paying with MYND are that users get special discounts, and it reduces transaction costs and settlement times. Additionally, as part of the Loyalty Rewards programme, users can access enhanced tiered rewards on their payments.

• Use MYND to pay for the Myend Plus Myend offers a Basic, free for all service and a premium Plus service. Subscription fees can be paid with MYND Tokens.

• Use MYND to share your e-will Users pay with Tokens to download and print their E-will related documents.

• Use MYND to get additional Storage Users pay with Tokens to upgrade their storage account.

• Use MYND for Crypto Wallet Inheritance The ability to lock-up amounts of different cryptocurrencies until the moment of inheritance. At this moment the locked-up cryptocurrencies will be released to the designated beneficiaries. See Myend Wallet description for specification of inheritance conditions.

• Use MYND to buy Services Users can buy third party services with MYND Tokens;

  • Blockchain notary services which would allow identity and document authenticity to legalize their e-will.

  • Online legal advice services

  • Life insurance and Prepaid funeral Services.

  • Asset management and distribution.

  • Crypto wallet Inheritance

  • Subscription cancellations services.

Loyalty Rewards

MYND rewards can either be saved towards a future spending or be used for Inheritance services. By staking MYND from their Proof of Life savings, users earn a percentage-rate reward over time.

• Earn MYND while learning about Myend Users learn by watching a few videos about how Myend works and completing a short quiz or task to test the user's knowledge, the user will be rewarded with MYND tokens.

• Earn MYND with Proof of Life (Staking) Myend users can press a “Proof of life” button once a week to get MYND tokens. They can (virtual?) stake their MYND tokens in the app to receive interest.

• Earn MYND by inviting Trustees (Max 3.) Invite Trustees and earn free MYND tokens. Once a Trustee accepts the invite and creates an account, both user and Trustee will earn tokens.

• Earn MYND with inviting Contacts When adding Contacts to an account, users can also invite these Contacts. Once a Contact accepts the invite and creates an account, both user and Trustee will earn tokens.

• Earn MYND when completing their E-will Users receive Token rewards when finishing their E-will for the first time.

• Earn MYND with adding Belongings Users receive Token rewards when adding Belongings for the first time.

The Future of MYND

MYND will be at the heart of all future use cases Myend is pursuing. As the Myend user base continues to grow, usage of MYND is integral to their experience on the platform. With its use incentivised by valuable rewards, demand for MYND can be expected to grow in line with platform adoption, leading to the establishment of a healthy internal token economy from which all stakeholders may benefit.