Monochrome Exchange Launches IEO for Native Token MCR

Monochrome Exchange, a multi-asset trading platform, is set to launch its Initial Exchange Offering (IEO) of its native utility token, MCR. The IEO will take place on the Monochrome Exchange platform from September 21 at 13:00 UTC+8 to September 28 at 13:00 UTC+8.

The platform currently lists over 260 active markets and features a range of asset classes, including crypto, equities, ETFs, commodities, and pre-IPO markets. MCR will be used for trading fee discounts, allocation in Launchpad offerings and Digital IPOs, staking, and governance.

The tokenomics of MCR include a maximum supply of 210,000,000 tokens, with 20% of net platform profit allocated to buying back MCR from the open market quarterly. Purchased tokens will be sent to a verifiable burn address to reduce the circulating supply.