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TokenCard is a debit card usable at payment terminals around the world, including ATMs. TokenCard customers back/fund their own card with allowances from ERC20 compatible contract wallets. At launch, TokenCard will allow users to fund their card with ETH, TKN and up to five of the following tokens that will be elected for inclusion by the community: REP, MKR, DGD, ICN, MLN, GNT, 1ST and SNGLS.

TKN is an Ethereum token (ERC20 Contract). It is the base currency of the TokenCard and provides advantageous usage rights and benefits to its holder with regard the TokenCard: Whereas transactions in other tokens using the debit card pay a 1% smart contract enforced licensing fee, such licensing fee does not apply to transactions in TKN. TKN holders can in addition burn their TKN an in return collect a pro-rata share of licensing fees accumulated in the TKN Asset Contract through a unique mechanism called "Cash and Burn".

Fees from card swipes will be assessed in the token being used to fund the swipe. These fees will be sent directly to the TKN Asset Contract. Over time, this contract will - in a fully automated way and without any management required- accrue tokens in proportion to the tokens used by TokenCard customers around the world.

The Token App is the main way a user interacts with his Token Contract Wallet and TokenCard. The Token app operates the Token Contract Wallet and gives customers a simple way to access their token portfolio and manage their debit card and security profiles.

TokenCard launched a TKN creation Event that commenced May 2nd 2017. TokenCard's aim was to create $4.5mm of TKN for sale in exchange for ETH and other tokens from their initial token partners. The Token Creation period lasted seven days with an addtional 24 hours, due to the cap of $4.5mm being reached in this time. The TKN Creation Event total raise was $12.7M USD.

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39,406,759

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