Buy Monolith (TKN)
What is Monolith?
Monolith was a decentralised banking alternative powered by the Ethereum blockchain. It offered a non-custodial contract wallet to securely store Ethereum-based tokens and also provided a Visa debit card for fiat transactions. This allowed users to seamlessly interact with payment terminals worldwide, using their crypto assets for regular fiat-based transactions.
How does Monolith work?
Monolith operated using a non-custodial contract wallet, leveraging Ethereum's blockchain and consensus mechanisms, such as Proof of Stake (PoS) after its transition from Proof of Work (PoW). Its technology centred around smart contracts to manage token transactions and secure the wallet. Users could load their crypto assets into the wallet and convert them to fiat using a Visa debit card for spending. Monolith also featured a Community Chest, where token holders could burn tokens for a proportionate number of TKN tokens from the chest.
What are the potential use cases for Monolith?
Monolith served multiple use cases centered around its Visa debit card and non-custodial wallet:
- Decentralised Finance (DeFi): Enabled users to spend Ethereum and ERC-20 tokens in everyday transactions.
- Crypto-Fiat Gateway: Facilitated seamless conversion and spending of cryptocurrencies as fiat currency through its debit card.
- Financial Inclusion: Provided users with European IBAN codes, integrating both crypto and fiat capabilities.
- Token Exchange: Included a decentralised exchange aggregator for efficient token swaps.
- Partnerships: Collaborated with Visa for global card acceptance and Contis Financial Services Ltd for card issuance.
What is the history of Monolith?
Monolith, originally known as TokenCard, was founded in 2017 by Mel Gelderman and David Hoggard. It started with a successful Initial Coin Offering (ICO) that raised $16.9 million. In 2019, the project rebranded to Monolith and launched services with a non-custodial wallet and Visa debit card. Over its operational period, Monolith served 35,000 customers across Europe, enabling over $113 million in transactions. Partnerships included Visa and Contis, and collaborations with MakerDAO and Digix expanded token options. The service ceased operations on October 8, 2024, due to regulatory challenges, paving the way for its successor, Token.com.
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Frequently Asked Questions (FAQs)
What is the current price of Monolith (TKN)?
The Monolith price is $0.16185562 AUD, representing a -13.67% from the day prior.
Where is the best place to buy Monolith (TKN) in Australia?
The best place to buy Monolith (TKN) in Australia is right here! Coinstash is one of Australia's leading and most trusted cryptocurrency exchanges. Built by investors, for investors - Coinstash offers a secure and user-friendly platform to buy and sell Monolith (TKN) and over 1,000 other cryptocurrencies. Enjoy low fees, excellent customer support and access to an array of powerful trading tools and investing features.
What is the daily trading volume of Monolith (TKN)?
The trading volume of Monolith (TKN) is $37 AUD in the last 24hrs, representing a -13.67% from the day prior.
How can I buy Monolith (TKN)?
Monolith (TKN) can be purchased on Coinstash with AUD or by trading other cryptocurrencies for it. Coinstash offers various AUD deposit methods including bank transfers, POLi and PayID.
What is the market cap of Monolith (TKN)?
The current market cap of Monolith (TKN) is $0 AUD.
Can I convert Monolith (TKN) to cash?
Yes - With Coinstash you can convert your Monolith (TKN) to AUD instantly. You can also withdraw AUD to your Australian bank account instantly and for free with no withdrawal fees.
How many Monolith (TKN) are there?
The current circulating supply of Monolith (TKN) is 0.
Is Coinstash a safe place to buy Monolith (TKN) in Australia?
Yes - Coinstash is one of Australia's safest and most trusted platforms for buying and selling Monolith (TKN) and other cryptocurrencies. Coinstash's industry-leading security practices provide the highest level of protection for your investments. Coinstash is licensed, compliant and AUSTRAC registered in Australia. You can learn more about our security practices.