Monochrome Exchange Launches MCR IEO with Consolidation Goals
Monochrome Exchange, a multi-asset trading platform, has announced the Initial Exchange Offering (IEO) of its native utility token, MCR. The IEO will take place on September 21 at 13:00 UTC+8 and run until September 28 at 13:00 UTC+8. During this time, users can participate by depositing USDT and committing funds on the offering page.
The maximum supply of MCR is capped at 210,000,000 tokens. Tokens allocated to the team and advisors are locked for 12 months, followed by a 36-month linear vesting schedule. The token incorporates a buy-back and burn mechanism driven by platform activity: 20% of net platform profit will be used to buy back MCR from the open market quarterly.
Jeff Yew, founder of Monochrome Exchange, explained that 'tokenisation has produced a large number of assets that barely trade.' He emphasized that the harder problem is the market underneath them: liquidity, settlement, and compliance. The exchange aims to consolidate crypto, equities, bonds, and real-world assets into a single venue where trades settle on-chain.
Monochrome Exchange currently supports trading across four asset classes from a single account balance: crypto, equities, ETFs, and commodities. The platform lists over 260 markets, including tokenized exposure to US and Hong Kong equities, index and sector ETFs, precious metals, and energy.