Blockchain infrastructure company Chain announced on Saturday. Measurable Data Token (MDT) altcoin announced its purchase.
Measurable Data Token (MDT) Altcoin Holders Will Be Exchanged For XCN
The $100 million deal will add a number of assets to the Chain ecosystem, which provides cloud services for developers to build blockchain-based applications, including MDT, cashback app RewardMe, and financial data protocol MeFi.
The deal in question is about MDT tokens being the Chain ecosystem’s own altcoin. to XCN it has a unique structure.
The deal was handled by the firm’s internal M&A unit, along with advisors to Tanner De Witt and Rooney Nimmo.
“With this acquisition, the Measurable Data Token (MDT), which will be burned and replaced with the XCN token, is obsolete,” a blog post said:
“MDT token holders will benefit from the swap agreement and receive $0.08 XCN assets per MDT tokens for the swap.”
In fact, such an agreement cryptocurrency There are also precedents in the world, as the acquisition of LGO Markets by the currently struggling Voyager Digital resulted in a merger between the tokens of the two companies.
Talking about the process, Chain CEO Deepak Thapliyal said it was “complicated and required a lot of counterparty assistance.”
The CEO added the following information:
“We will need the help of exchanges to support the swap for off-chain tokens. For on-chain tokens, the process will be much less complex and can be used via a simple smart contract as both are primarily ERC20 tokens.”
*Not investment advice.