Comment on page
The native cryptographically-secure fungible protocol token of Meka Ape (ticker symbol $MAG) is a transferable representation of attributed governance and utility functions specified in the protocol/code of Meka Ape, and which is designed to be used solely as an interoperable utility token thereon.
$MAG is a functional multi-utility token which will be used as the medium of exchange on the MekaStore in a decentralized manner. The goal of introducing $MAG is to provide a convenient and secure mode of payment and settlement between participants who interact within the ecosystem on Meka Ape without any intermediaries such as centralised third party entity/institution/credit. It is not, and not intended to be, a medium of exchange accepted by the public (or a section of the public) as payment for goods or services or for the discharge of a debt; nor is it designed or intended to be used by any person as payment for any goods or services whatsoever that are not exclusively provided by the issuer. $MAG does not in any way represent any shareholding, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will $MAG entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in Switzerland, Singapore or any relevant jurisdiction. $MAG may only be utilised in Meka Ape, and ownership of the same carries no rights, express or implied, other than the right to use $MAG as a means to enable usage of and interaction within Meka Ape. The secondary market pricing of $MAG is not dependent on the effort of Meka Ape, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.
Further, $MAG provides the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on Meka Ape, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. $MAG is an integral and indispensable part of Meka Ape, because without $MAG, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on Meka Ape. Given that additional $MAG will be awarded to a user based only on its actual usage, activity and efforts made on Meka Ape and/or proportionate to the frequency and volume of transactions, users of Meka Ape and/or holders of $MAG which did not actively participate will not receive any $MAG incentives.