Crypto Glossary

Posted on September 13, 2021 in
Glossary

Zipmex Token (ZMT)

ZMT is a ERC-20 token custodised on BitGo created and governed by Zipmex, a digital assets exchange and investment platform. ZMT is designed to be used mainly within the Zipmex ecosystem.

What is the supply of ZMT?

There will only ever be 200 million ZMTs in circulation.

What is the vesting period and allocation plan of ZMT?

ZMT is vested over 4 years, which means it will not be released all at once. With almost 40% of the supply allocated to the community, 20% to the Treasury, 15% reserved for private sales and the rest going to staff and partners of Zipmex.

What are the use cases of ZMT?

Holders of ZMT will receive a boost on earnings from digital assets stored in Zipmex and can receive reduced transaction fees, as well as other benefits such as the ability to use the token to redeem physical items and unique experiences.
ZMT is also created to be accepted as a form of currency with ZipSpend, which will be rolled out in Q3 2021. Holders of ZMT can make payments with ZMT using QR codes at merchants in Thailand as well as other countries in the near future.

ZMT holders can even receive cashbacks and rebates with every payment, as well as additional benefits within the Zipmex ecosystem.

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RISK WARNING ON DIGITAL PAYMENT TOKEN SERVICES

The Monetary Authority of Singapore ("MAS") requires us to provide this risk warning to you as a customer of Zipmex.

Before you pay Zipmex any money or DPT, you must be aware of the following.

  1. Zipmex is not currently licensed by MAS to provide DPT services. This means that you will not be able to recover all the money or DPTs you paid to Zipmex if Zipmex’s business fails.
  2. You should not transact in the DPT if you are not familiar with this DPT. This includes how the DPT is created, and how the DPT you intend to transact is transferred or held by Zipmex.
  3. You should be aware that the value of DPTs may fluctuate greatly. You should buy DPTs only if you are prepared to accept the risk of losing all of the money you put into such tokens.
  4. You should be aware that Zipmex may offer services related to DPTs which are promoted as having a stable value, commonly known as “stablecoin”.
  5. DPT held in your Hosted Wallet is not subject to the Singapore Deposit Insurance Scheme (“SDIC”) or any similar insurance or guaranty scheme of any other jurisdiction. In addition, funds stored in your Fiat Wallet do not benefit from the SDIC or any similar insurance or guaranty scheme of any other jurisdiction.

ZipUp+ products have not been approved by the Monetary Authority of Singapore (“MAS”) under the Payment Services Act 2019 and MAS has not reviewed or approved any features of these product offerings. Please review this link for the full terms and conditions and risk disclosure.