The native cryptographically-secure fungible protocol token of the Multibit Protocol (ticker symbol $MUBI) is a transferable representation of attributed governance and utility functions specified in the protocol/code of the Multibit Protocol, and which is designed to be used solely as an interoperable utility token thereon.
$MUBI is a functional multi-utility token which provides the economic incentives which will be distributed to encourage users to exert efforts towards contribution and participation in the ecosystem on the Multibit Protocol, thereby creating a mutually beneficial system where every participant is fairly compensated for its efforts. $MUBI is an integral and indispensable part of the Multibit Protocol, because without $MUBI, there would be no incentive for users to expend resources to participate in activities or provide services for the benefit of the entire ecosystem on the Multibit Protocol. Given that additional $MUBI will be awarded to a user based only on its actual usage, activity and efforts made on the Multibit Protocol and/or proportionate to the frequency and volume of transactions, users of the Multibit Protocol and/or holders of $MUBI which did not actively participate will not receive any $MUBI incentives.
$MUBI does not in any way represent any shareholding, ownership, participation, right, title, or interest in the Company, the Distributor, their respective affiliates, or any other company, enterprise or undertaking, nor will $MUBI entitle token holders to any promise of fees, dividends, revenue, profits or investment returns, and are not intended to constitute securities in the British Virgin Islands, Singapore or any relevant jurisdiction. $MUBI may only be utilised on the Multibit Protocol, and ownership of the same carries no rights, express or implied, other than the right to use $MUBI as a means to enable usage of and interaction within the Multibit Protocol. The secondary market pricing of $MUBI is not dependent on the effort of the Multibit Project Contributors, and there is no token functionality or scheme designed to control or manipulate such secondary pricing.
$MUBI, offers the following key utilities:
Governance: Holders of $MUBI tokens have governance rights within the Multibit platform. They can participate in decision-making processes, such as voting on proposals for platform upgrades, new token listings, fee structures, and other key governance matters. This ensures that the community has a say in shaping the future of Multibit. For the avoidance of doubt, the community does not have legal control over any matters relating to the Company (or any of its affiliates) or any of its assets, or any of its affiliated companies (including without limitation the selection of governing board of the relevant company, over corporate matters, development direction, specific projects, or deployment of that company's assets, which shall be the final responsibility of the governing board of the relevant company).
Staking for Rewards: The Multibit Protocol itself is simply a blockchain protocol which, as designed, does not own or run any computing/storage servers or provide any liquidity resources. It relies on an open, decentralised network of listening nodes and liquidity providers nodes which operate on an open source algorithm to safeguard the protocol and provide liquidity for transactions. Accordingly, third-parties which provide the necessary computing resources or liquidity for transactions would be able to receive $MUBI tokens, ERC20 or BRC20 tokens (as the case may be) for their efforts in contributing to the network.
Staking Deposit: As an indicator of commitment to the system (to filter genuine transactions and minimise network chatter) and to encourage higher performance and availability, nodes would be required to place an amount of $MUBI as a security deposit (i.e. a stake) before it may participate in securing the cross-chain network.