MDT

Management token

used for making significant decisions in the MonolithosDAO Platform
Total number of tokens:
1.000.000 MDT
Number of tokens in the free sale:
800.000 MDT
Pre-sale:
300.000 MDT-0.4$
Initial Uniswap Listing:
500.000 MDT
PRIVATE SALE OF 300.000 MDT FOR $0.4 FROM 200 TO 50,000 MDT
Sales stages
1.
2.
IUL-INITIAL UNISWAP LISTING
Listing on Uniswap involves the creation of ETH\MDT liquid pair.
On sale, the price of MDT changes equally in proportion to the amount of ETH.
Initial Uniswap Listing
The MDT token will be available on Uniswap on August 3, 2020, at 12:00 UTC. At this time, the MonolithosDAO Team will contribute *500,000* MDT and ~$210,000 in ETH cryptocurrency to the created pool on the Uniswap platform.
This represents an initial price of ~$0.42 / MDT, which implies a market capitalization of ~$210,000 for the MDT token network.
For purchase transparency, we conduct IUL
(Initial Uniswap Listing )
The MDT token will be available on Uniswap on July 10, 2020, at 12:00 UTC. At this time, the MonolithosDAO Team will contribute *500,000* MDT and ~$210,000 in ETH cryptocurrency to the created pool on the Uniswap platform.
This represents an initial price of ~$0.42 / MDT, which implies a market capitalization of ~$210,000 for the MDT token network.
The MDT token will be available on Uniswap on July 10, 2020, at 12:00 UTC. At this time, the MonolithosDAO Team will contribute *500,000* MDT and ~$210,000 in ETH cryptocurrency to the created pool on the Uniswap platform.
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What is MDT?
MDT is a cryptocurrency of the Monolithos DAO network. MonolithosDAO is an Ethereum blockchain smart contract platform. The goal of the project, built on the principle of a Decentralized Autonomous Organization (DAO), is to create stability in the world of decentralized things. This stability is implemented through MDT — an ERC-20 standard token, which allows you to use it in all the most popular Ethereum wallets (Metamask, Mist, MEW, etc.).
What is MDT token used for?
MDT is a management token, and also a source of recapitalization of the MonolithosDAO protocol.
MDT as a management token
The owner of the MDT token uses it as a management token when voting on a variety of issues. Voting is used to make changes to the MonolithosDAO protocol parameters, such as stability fees, DSR, debt ceiling, and many others. Voting is also used to make decisions on non-technical aspects of the protocol, such as asset priority lists, management processes, role mandates, and even the election of individuals to perform specific duties. To learn more about management in the MonolithosDAO protocol, visit the Management FAQ.
MDT as a source of recapitalization
The token also acts as a source of recapitalization when the MonolithosDAO protocol works in short supply. The ability to dilute the offer of MDT tokens gives holders a powerful incentive to manage the system intelligently. Conversely, destroying MDT by auctioning off MCR due to the system's excess surplus further encourages owners to manage the system correctly.
How are MDT tokens created and destroyed?
At the time of the MonolithosDAO launch, 1 million MDT tokens were present in the system. Tokens are created and destroyed under different circumstances. MDT is destroyed when the MonolithosDAO protocol redundancy tracking system detects that the minimum threshold is exceeded, resulting in excess MCR being auctioned for MDT, which are then destroyed. Conversely, when the MonolithosDAO protocol is in short supply, and the system debt exceeds the maximum threshold, MDTs are generated and auctioned for MCR to recapitalize the system.
What are the responsibilities of MDT owners?
The primary responsibility of MDT owners is to ensure MCR stability and maintain the health of the MonolithosDAO protocol. It is in the interest of MDT owners to improve and expand the MonolithosDAO protocol by creating an infrastructure that can provide effective system management. For example, users can set risk assessment standards for introducing new types of collaterals and vaults, ratify role mandates and elect appropriate parties, set standards for voting types, and much more.
Another crucial area of responsibility for MDT owners is to publicly communicate their views on various issues that MonolithosDAO is working on at any given time. Serious participation in the discussions on the forum and the expression of opinions, as well as the arguments underlying them, are important due to the public and decentralized nature of the protocol and its management.
What rights do MDT owners have in voting?
MDT owners have the opportunity to make technical changes to the MonolithosDAO protocol and ratify on-chain decisions on non-technical issues, whether it is changing system parameters or deciding to adopt a new management philosophy. To learn more about managing the MonolithosDAO protocol, visit the Management FAQ.
MDT owners who are interested in actively participating in MonolithosDAO protocol management can refer to the Voting Guide to find out how to get started.
Which addresses contain the most significant amount of MDT?
Addresses that contain the most significant number of MDTs can be viewed on the Holders tab on the MDT token addresses page in the Etherscan service. Some of them do not represent individual holders but are smart contracts for MDTs. The following are a few examples, and other examples include exchange wallets and liquidity pools.

0x8ee7d9235e01e6b42345120b5d270bdb763624c7 — a MonolithosDAO multi-signature that contains unallocated MDTs and belongs to the Foundation. Also known as the Development Fund.

0x642AE78FAfBB8032Da552D619aD43F1D81E4DD7C — a contract that temporarily holds NEWMDT for owners who have not yet redeemed their OLDMDT.

0x9eF05f7F6deB616fd37aC3c959a2dDD25A54E4F5 — DS-Chief voting contract, which stores deposits in MDT from several persons, which are then used for management. This contract has the highest authority over all other contracts in the MonolithosDAO protocol and is used to make changes to the system state, which applies to all topics on which MDT owners can vote, including risk parameters.
Can MDT be used as collateral?
Although technically, MDT can be used as collateral, there are reasons why this is undesirable.

MDT is intended to be used as a recapitalization source for the protocol. This means that the MDT acts as collateral of last resort to absorb losses that exceed the expected losses from the collateral contained in the vaults. If MDT is used as the first instance collateral, i.e., as collateral secured in the vaults, this will deprive it of effectiveness as collateral of last resort.

A negative feedback cycle will occur in the scenario when a fall in the price of MDT will cause the liquidation of the vaults provided by MDT, which will subsequently cause downward pressure on MDT price. While liquidation pricing pressure is a risk applicable to any type of collateral, systemic risk using MDT is potentially higher, since a drop in the price of MDT directly reduces the amount available for the recapitalization of all types of collateral under the MonolithosDAO protocol. The downward spirals in the MDT price also make the MonolithosDAO protocol more vulnerable to management attacks, making the cost of buying enough MDT to vote for an attacker-friendly change more affordable. Besides, if both systemic bad debts and MDT repositories were liquidated at the same time, they would become self-repairing, increasing the risk of a severe fall in the value of MDT and reducing its effectiveness as collateral of last resort.

Finally, there is the circular funding argument. The value of MDT is related to the total amount of MCR in circulation. An additional MCR generated from MDT storages will create a positive feedback cycle concerning the price of MDT, which will create even more MCR from these storages. This behavior increases systemic risk.
Can the MDT token, when diluted, cover all MCRs if their cost becomes zero?
An event in which the Collateral asset loses all value is considered a Black Swan, which is defined as an unprecedented, unexpected, and catastrophic situation. It makes it very difficult to predict the likelihood of severe threats to the system. There is no guarantee that the dilution of MDT will always be sufficient.

Diluting MDT can recapitalize the system to a specific limit. It is crucial to consider the severity of the situation. If it is high enough, MDT holders may consider an emergency shutdown appropriate, which will result in the MCR being proportionally eligible for the protocol manufacturer's software portfolio.
How to redeem old MDTs?
MonolithosDAO.com/redeem is the only official page for updating MDT tokens.

Important Note: DO NOT send tokens directly to the address of the Exchange Contract. It will lead to the fact that all tokens you submit will be lost forever! Follow ONLY the proper steps at MonolithosDAO.com/redeem to redeem MDT.

There are no time limits on when an exchange should be made. All members of the community must be wary of phishing attacks that may be associated with the launch of the upgrade process. Never respond to any "new official announcements" about MDT redemption methods, as they are highly likely to be phishing.
What happens to MDTs in the event of an emergency shutdown?
In the event of an emergency shutdown of the system, it will need to be redistributed. The re-deployed version of the MonolithosDAO protocol will require MDTs to vote as before.

Emergency shutdown does not necessarily indicate an MDT dilution event. MDT dilution occurs when the system is in short supply and needs to be recapitalized. If the system is experiencing an emergency shutdown, then price flows and system conditions are frozen at a certain point in time. Dilution of MDT can occur in the moments preceding this if a blackout occurs due to a severe market failure that could lead to the default of multiple storage facilities

There are no guarantees regarding the future value of MDT, in particular, in the event of an emergency shutdown.
How many MDTs are there in the system?
At the time of signing the MonolithosDAO protocol, a total of 1 million MDTs existed. To find out how many MDTs currently exist, check out the MDT Token Contract on Etherscan.

The total number of existing MDTs may vary depending on how the system works. For example, the total volume of MDT may increase if the system is deficient and needs to be diluted with MDT as a source of recapitalization. If the system is properly managed, the total MDTs will decrease as the MDTs are destroyed in exchange for an excess of MCR from the system surplus.
Questions and suggestions:
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