Moca Network has launched MocaPortfolio, a new platform designed to give its community access to token allocations from projects within the Animoca Brands ecosystem, according to an update shared with Finbold on Friday, December 19.
The platform is now live, with the Magic Eden (ME) token serving as the first featured allocation. The initial drop marks the beginning of a series of planned token offerings tied to projects backed by Animoca Brands.
Token allocations from Animoca Brands’ ecosystem
MocaPortfolio has earmarked $20 million worth of tokens from Animoca Brands’ portfolio projects, with the Magic Eden drop representing the first allocation available to eligible participants. Additional token distributions are expected to be announced over time as more projects are added to the platform.
The inaugural drop includes an allocation of 2,195,000 ME tokens. Participation is open to MOCA stakers, who can use their staking power to take part during the registration period, which runs from December 18 at 13:00 UTC to December 29 at 01:00 UTC.
ME tokens will be distributed using a proportional model, with allocations determined by the amount of staking power used by each participant.
Access for existing and new participants
Existing MOCA stakers can register directly through the MocaPortfolio platform to participate in the Magic Eden token drop. Moca Network also introduced a fast-track option for new participants, allowing users to stake MOCA tokens for a limited period in order to generate sufficient staking power to join the allocation.
Kenneth Shek, project lead of Moca Network said: “MocaPortfolio is curated with tokens in Animoca Brands’ portfolio to help portfolio projects grow token distribution, and to enable token holders to accumulate a collection of tokens and grow along with their chosen projects. Holding MOCA gives the holders the ability to build up their own portfolios along the principles that Animoca Brands uses for its own ecosystem of token investments.”
Featured image via Shutterstock.
Source: https://finbold.com/moca-network-launches-mocaportfolio-with-magic-eden-token-as-first-allocation/
