PARKGENE Integration with EXCELON Fintech
We are happy to announce that PARKGENE has come to an important agreement with its affiliate Fintech venture Excelon.
The terms of the agreement are the following:
- GENE ACCEPTED FOR TRADING:
Excelon will accept GENE Tokens as a fully traded utility token into its wallet and exchange, making it easy for everyone who is interested in GENE Tokens to buy, hold and sell them directly from the Excelon wallet and exchange. Furthermore it will help all parking owners to exchange GENEs for Euro instantly, taking away a big obstacle from PARKGENE’s commercial rollout.
- BUY A MASTERCARD WITH GENE:
Excelon will offer Excelon prepaid premium mastercards at a 50% discount to users who pay with GENE Tokens. The number of GENEs required to buy an Excelon prepaid premium mastercard will be calculated in real time based on the current market price. This discount is given exclusively to GENE token holders and not to any other currency (Euro, BTC, ETH). PARKGENE will release the “BUY A MASTERCARD WITH GENE” functionality in the next 2 weeks so any user can go into GENE Wallet and use it.
- HODL GENE AND GET A MASTERCARD AT NO COST:
Excelon will offer Excelon prepaid premium mastercards with no monthly fees for any user who will own a GENE HODL CONTRACT offered by PARKGENE. The GENE HODL CONTRACT has one year of duration and can be acquired for 10x the number of GENE Tokens needed to buy the Mastercard after the 50% discount as explained above. After the one year term, the GENE Tokens will be released and the owner may renew his GENE HODL CONTRACT to enjoy the Excelon prepaid premium mastercard with no monthly fees, or use them. PARKGENE will release the GENE HODL CONTRACT functionality in the next 2 weeks so any user can go into GENE Wallet and acquire it.
- 30% of GENE Token Fees will be BURNED by Excelon:
Excelon will burn 30% of the GENE Tokens it receives as a means of payment for any user buying Excelon prepaid premium mastercards. The burn will happen at the end of each calenda quarter starting 31.3.2019
- PARKGENE card and POS plans are ON and to be provided by Excelon
Given the level of investement, licences and structuring needed, Excelon will provide PARKGENE card and POS on a white label basis in a 50% / 50% revenue share with PARKGENE. This is important for PARKGENE as it takes out all the burden of developing this infrastructure and commiting resources that are out of its P2P Parking initiative. The availabilty of the PARKGENE card and POS will announced in due course based on the proven community demand.
The above offering will initially be available for 3.000 Excelon prepaid premium mastercards which will be provided in a first come first serve basis. Additional offerings will be considered once this offering is concluded.
We are sure that this agreement adds a tremendous value to GENE and GENE holders as well to the PARKGENE project as we remain focused in building the Peer to Peer Global Parking ecosystem.