Modex

Modex is a Smart Contract Marketplace and app ecosystem that allows for easy, user friendly access to crypto-currencies and smart contracts alike. Developers can leverage Modex to monetize their skills and offer Smart Contract solutions to end-customers and contributors. The real-world community can easily find Smart Contracts that meet real-world needs, are already audited and secure, without having to scout developers and manage one-off development projects. Modex makes deployment of Smart Contracts significantly easier, faster and more cost-effective, speeding up blockchain technology adoption.

The MDX Token

The MDX token, based on ERC20, is the utility token for the Smart Contract Marketplace and app ecosystem. All blockchain services and product features within Modex will be paid for and remunerated in MDX. In the upcoming ICO Modex will be issuing MDX tokens that can be used to pay platform service fees, make smart contract purchases and gain access to a complete suite of APIs for decentralised transactions.

The Concept

Modex’s Smart Contract Marketplace combined with Modex’s payment ecosystem will allow for easy, user friendly access to blockchain technology -- crypto-currencies and smart contracts alike.

While some smart contracts will be very technical and highly specialized, requiring entire businesses to be built around a single sophisticated contract, many others will not be. Modex’s smart contract marketplace will be the Smart Contract App store for developers to upload and sell their work, and for buyers to purchase them. The Modex Smart Contract Marketplace will support APIs for 3rd party apps to integrate with, so that smart contracts can easily be deployed through an ecosystem of apps that enable buyers to deploy smart contracts and solve real world problems.

How Modex Works

1. A developer creates a smart contract to publish on the Modex Smart Contract Marketplace -or- they can receive a commissioned project from a Modex buyer. There is no listing fee for smart contracts.
2. Modex will let developers choose to open source their work for peer-review and pen testing -or- select from proven auditors who they can trust. In either case, auditing and pen testing will be rewarded by MDX token bounties.
3. The contract will then be deployed in the store -or- to the client who commissioned the work.
4. Buyers will be able to purchase, using MDX tokens, the use of the smart contracts listed in the Smart Contract Marketplace.

Sale Process & Pricing

During the token offering of Modex’s MDX we will accept: Ethereum, Bitcoin, All ERC20 Tokens, and many other cryptocurrencies listed on our webpage. Private sales will accept fiat currency. Participants in the private sales and pre-sale will be subject to a lock up period, where their tokens are delivered over time, following the completion of the ICO.

When a contributor sends ETH, or BTC to Modex, upon the funds being received in Modex’s wallet, Modex will then take a spot price (from CoinMarketCap) of the cryptocurrency that was sent to Modex, and it will convert the cryptocurrencies value (at the spot price) in USD. and allocate the corresponding amount of MDX tokens to the contributors wallet.

Tokens will be delivered to the purchaser upon completion of the Initial Token Offering. Any unsold tokens will be “burned”.