1. Project Introduction
Messier is building a suite of decentralized applications on a multitude of networks, where they will collect service fees that will be sent to the treasury of the Virgo DAO.
M87 holders will be able to stake their tokens in Virgo, where they will be able to create & vote on proposals that use treasury funds to purchase alternative ERC-20’s that will be distributed directly to them. All functions relating to the handling of funds within Virgo are executed by immutable smart contracts to ensure there are never middlemen handling funds throughout any point of any process.
As can be read in the whitepaper, Virgo will have a buy & burn mechanism that subjects the M87 token to extreme buy pressure, while heavily reducing its circulating supply. Most projects with buy & burn mechanics perform them by recycling the taxes collected from the trading volume of their token, resulting in the need to endlessly acquire token purchasers in order to give the token its value (ponzi).
In contrast, M87’s buy & burn mechanic in Virgo will use funds derived from the service fees collected by Messier’s various applications, ensuring there isn’t a need to acquire token purchasers in order to increase the token’s value. Not only will this provide the M87 token with actual value, but it will help to eliminate bias that could otherwise interfere with objective reasoning in regards to the governance of Virgo’s treasury funds.
Ultimately, Messier is focussed on creating a vast ecosystem of decentralized applications that provides consumers & businesses with the tools necessary to replace fiat currencies with crypto.
2. Token Info
- Token Name: Messier
- Token Symbol: M87
- Total Supply: 1,000,000,000,000 M87
- Token Type: ERC20
3. Useful Links
- Official Website: https://messier.app
- Whitepaper: https://messier.gitbook.io/catalogue-de-messier/
- Explorer: https://etherscan.io/token/0x80122c6a83c8202ea365233363d3f4837d13e888
- Twitter: https://twitter.com/MessierM87
- Telegram: https://t.me/MessierM87Community
