MGS Utility Token Terms

Total supply: 100,000,000 MGS
Issuing account: rHP4bHzghBdzskqcaPciL5WRGkHosB5zYx

To encourage daily user engagement in MG.Social, we are now distributing the MGS utility token.

MG.Social users will be able to use the MGS utility tokens they earn on MG.Social to participate in governance voting, tip users for their postings, and backup their postings onto the XRPL. Additional MGS utility token use cases may be developed and launched in the future.

MGS utility tokens were created on the XRPL, and can therefore be freely traded and transferred amongst users or be traded for other tokens on the XRPL decentralized exchange or DEX.

The issuing account for the MGS utility token has been locked permanently and cannot issue any further tokens or freeze any MGS utility tokens being held.

We are running a one-time distribution of 300 MGS Utility tokens from August 24th, 2021 until 11:59 PM September 30th, 2021. Those with an XRPL account activated September 1st or prior and an MGS trust line can create a post with the #MGS300 hashtag on MG.Social or PS.MG.Social to be eligible for their one-time distribution. One one posting and one distribution per qualifying address.

For October, 2021 the daily reward for posts to MG.Social will be 10 MGS. Only one daily reward per MG.Social account and only one XRPL account per MG.Social account.

We will anounce the start date and duration of MGS utility token distribution periods in advance on MG.Social and our various social media pages. We reserve the right to adjust the MGS utility token daily allotment amount, distribution duration and criteria for eligibility between (but not during) distribution periods.

To participate in receiving MGS utility token rewards you must create a trustline for MGS utility token:

Note: By agreeing to our terms and setting a trustline to MGS utility token you acknowledge that the purpose of the MGS utility token is for the utilization of MG.Social software services and not for speculative purposes. The information on this page does not constitute financial advice, investment advice, or trading advice. Acquiring MGS utility tokens does not grant you any rights or ownership claim to MG.Social or its revenues, or any other entity. MGS utility token recipients are liable for any and all taxes incurred from earning or selling MGS utility tokens.

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