Mandala's MDX Crowdsale ran from June 1st to July 13th, 2018.
Mandala is committed to achieving compliance with securities regulators and in doing so instituted KYC (Know Your Customer) and AML (Anti Money Laundering) requirements as outlined by FINCEN.
Under a Reg S exemption as outlined by the U.S. Securities Exchange Commission and the MDX crowdsale was limited to international participants only (Non U.S. Residents Only).
The maximum total supply of Mandala's MDX token is 400,000,000.
The MDX crowdsale was sold out, a total of 260 million units were purchased.
I.C.O. (Initial Coin Offering) and Token Sales have many inherent risks as with most investments and participants should thoroughly research, practice diligence and consider consultation with a professional or financial advisor.
MDX Tokens were distributed via smart contract at the conclusion of the crowdsale to those who passed KYC (Know Your Customer) and AML (Anti Money Laundering) requirements and submitted an ERC20 claim address.
Mandala has instituted the Reg S securities exemption for the sale of international securities.
*Note For US Residents Only*
MDX tokens will be locked from US flow back for a period of 1 year or until our Reg A+ filing is approved, whichever comes sooner.
With users front of mind, the Mandala exchange simplifies the experience through tools and resources that will enhance the skills, knowledge and profit potential of its user base. Ensuring higher levels of security standards and implementing an enhanced trading engine for sustainability and scalability, Mandala offers a cleaner platform to the cryptocurrency ecosystem. In achieving and maintaining compliance with regulatory bodies, Mandala can further peace of mind to users as the exchange is run lawfully and that their funds are safe.
Regular trading fees for the Mandala exchange will be 0.20% with additional savings up to 80% for MDX token holders.
As the current digital asset industry is evolving and regulators are catching up, Mandala hopes to be able to accept and facilitate fiat deposits as the laws and compliance regulations allow.
Mandala is thoroughly researching and studying all applicable laws and will be be properly registered with the appropriate governing bodies.
As the Mandala Exchange platform grows, its offering of available and tradeable cryptocurrencies and digital assets will as well, as is allowed by the developing legal and regulatory compliance requirements. In ensuring that users funds are safe and in achieving compliance, Mandala seeks to only list projects that meet the evolving requirements as outlined by regulators and in global securities law.
Not at this time.
Mandala's MDX token provides users with an enhanced feature offering, unlocking and making available advanced features tools and resources.
A utility token is a functional token that, through smart contract programming, can be utilized in many different ways. In the case of Mandala, it can be used to pay for services within the platform as well as to reduce trading fees.
A hardware wallet is a physical device that is utilized for securely storing holdings and private keys offline and is typically complimented with a built in 2FA (two-factor-authentication) for extra protection.
We are partnering with large exchanges for liquidity share out of the gate, then for our native tokens, or tokens that are not listed on other partnering exchanges, we will be bringing in large scale market makers to provide liquidity.
As soon as it launches for non-US residents, once US regulatory compliance is met then US resident may trade on the Mandala exchange.
Yes it will have the ability to be traded against other pairs including our native MDX token.
We are working hard with our developers and will release that update once they are ready.
What guardrails or other policies does the platform maintain to ensure fairness for retail investors in trading against professionals?
In addition to our commitment to create, produce, and provide tools and resources that benefit and empower novices, Mandala strives to create an ecosystem that removes the ‘house edge’ through access to information, providing individual API keys and continuously assessing our policies on matters such as bot trading.
The Mandala Platform is open to all users who pass KYC identity verification. Mandala will monitor for suspicious behaviour and will suspend trading on any listed cryptocurrencies that are suspected to be the subject of abusive trading. Any accounts found to be conducting abusive trading would be in direct violation of the End User License Agreement and we will take steps to suspend and freeze accounts, and report individuals to relevant authorities.
What policies are in place to prevent the company and its employees from exploiting non-public information to benefit themselves at the expense of customers?
Internal controls are in place to ensure that the Mandala team does not exploit non-public information such as limited access to information, financial disclosure of cryptocurrency holdings and an agreement to abide by insider trading laws and regulations.
How does the platform notify customers of a site outage or suspension, the terms under which trading will resume, and how customers can access funds during an outage?
Mandala strives to advise the public of maintenance, outages and suspensions through its online social accounts and directly in the exchange through notifications as promptly as possible and to the best of our ability.
What steps does the platform take to promote transparency and to subject its security to auditing or verification?
Security is a top priority and we will continuously develop policies, protocols and procedures to ensure the Platform and it’s users are protected to the best of our ability. We also engage third party auditors and routinely conduct stress tests on the platform.