MODEXSmart Contract Marketplace

WHITEPAPERVersion 1.0September 20th 2017

Table of Contents
Context 3

Abstract 4

Problem 5

Solution 7
The Big Picture Solution 8

MDX Token Utility 9

Smart Token Model: 9

Planned Product EcoSystem 10

Modex Smart Contract Marketplace 10
Smart Contracts 10
Marketplace Workflow Overview 11
Revenue Model 11
Marketplace Benefits 12
Marketplace Features 13
Marketplace Rollout 14

Existing Product Ecosystem 15

Moneymailme
A Multi Currency Social Payments Wallet 15
Modex Virtual and Physical Cards 16
The Modex Card & Moneymailme Wallet 16

Real World Use Cases: Smart Contracts & Cryptocurrency 18

Business Use Cases
Accept crypto as a merchant while protecting consumers 18
Sophisticated B2B payments 19
Transparent NGO and CSR financing 19
Employee Benefits 19
Micro-lending 20
Group Payments 22
Charity Communities 22

Roadmap 23

Token Sale Use of Funds 25

Overview: 25

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 Fund Allocation Details: 26

Team and Partners 28

Traction: Products Portfolio 30

Modex Team Major Milestones & Accomplishments: 30
Moneymailme Money Transfer App 30
M3 Payments 31
M3 Pay 31
Moneymailme Physical and Virtual Cards 31

Modex Token Sale Overview: 32

Why an Initial Token Sale: 32
Token Sale Official Website: 32
Token Sale Schedule: 32
Sale Process & Pricing: 33
Community Support : 34
Jurisdiction & Governance: 34
MDX Initial Token Offering: Cyber Security & Independent Auditing: 34
Funds Storage: 35
Terms & Conditions: 35

Closing Remarks: 36
Thank You 36

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Context
The trend of decentralisation represents a massive wave of innovation that is reshaping society.
It is an evolution; a paradigm shift that reflects a big change in our collective consciousness.
Although individuals and organizations worldwide are beginning to understand what the
blockchain is, it is by no means ever present in our daily lives and businesses struggle to
implement it into their operations1. Like any new technology, blockchain and crypto-currencies
must endure a process of growing pains along the path to widespread adoption. The present
lack of usability and trust correlate with the immaturity of this emergent technology. The
internet, for example, only became valuable once organisations such as AOL, Amazon, Google,
Facebook built successful web apps to give people the ability to benefit from the underlying
technology.2 Then, when Apple launched its App Store developers and consumers’ lives alike
gained tremendous value, and app use exploded. It was these sort of companies that made the
Internet accessible and useful to the mainstream. We are of the view that the same thing will
happen and is already happening for the blockchain industry.

This trend of decentralization mirrors an evolution of trade itself, where humanities notions of
money and value are fast evolving. New kinds of transactions are emerging, along with new
social norms and expectations. Crypto-currencies and smart contracts together act as the
backbone to this new world. On the one hand we are seeing the evolution of money, where the
process of creating, transacting, and storing value has fundamentally changed with the
invention of crypto-currencies. On the other hand, we have Smart Contracts that introduce an
added layer of facilitation, where agreements can be structured on the blockchain to be both
self-executing, and self-enforcing, providing a wide range of benefits and applications.

For this technology (and the vast sea of applications that can be built on it) to achieve
widespread adoption an ecosystem of effortless usability needs to emerge. Everything needs to
work at a “plug-and-play” level of ease.

1 https://hbr.org/2017/01/the-truth-about-blockchain
2 http://press.princeton.edu/chapters/s10574.pdf

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Abstract
The Modex team has already built the award-winning peer-to-peer mobile payments
application, Moneymailme.3

Modex is in the process of building a platform to connect smart contracts and applications that
together, will create an ecosystem to empower the following block-chain advancements - –

(i) develop or acquire ready to use smart contracts;

(ii) benefit from an e-wallet that can store crypto-currencies as well as fiat money;
(iii) make payments using the Modex (MDX) token or other accepted crypto-currencies
either on a p2p, b2c or b2b basis; and
(iv) integrate with new applications in order to deploy a range of smart contracts in the
real world.

Given the major changes in the complex landscape of smart contracts and payments, the
adoption of blockchain technology comes with several challenges, notably integration concerns,
a lack of expertise, high costs, volatility, and consumer protection. 4

To tackle these problems several key things need to happen. It is not enough to simply offer a
good multi-currency wallet, or crypto debit card both with backend liquidity. To tackle the ‘last
mile’ of adoption problem that will bring crypto-currencies and blockchain technology into daily
use for everyone, an ecosystem of support needs to be in place. To accomplish this goal the
market needs the ability to deploy smart contracts side by side with payments. In the payments
industry there are important nuances that need to be addressed by a variety of smart contract
solutions. For example, consumer protection is well addressed by service providers such as
Paypal and Visa5, where consumers are given protection against fraud, or disputes with
merchants. These same issues need to be addressed for crypto-currencies, and smart contracts
can do just that. Smart contracts will be written to address these issues, amongst others, and
will need to be integrated into both merchant payment systems, and consumer payment
applications. Modex’s platform for smart contract development, deployment, and multi-
currency social payments will tie these worlds together, seamlessly.

3 http://cfi.co/awards/europe/2017/moneymailme-best-social-payments-app-united-kingdom-2017/
4 https://www2.deloitte.com/content/dam/Deloitte/uk/Documents/Innovation/deloitte-uk-blockchain-
key-challenges.pdf
5 https://www.paypal.com/de/webapps/mpp/ua/buyerprotection-full?locale.x=en_DE

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Problem
The blockchain industry is in many ways still struggling to get off the ground. Companies and
everyday consumers alike are not all onboard, and are having a difficult time getting there,
despite the clear recognition of the value in doing so.

Blockchain applications offer solutions that require significant changes to, or the complete
replacement of, existing systems. In order to make the transition, companies and consumers
alike must overcome these challenges. Additionally, the range of existing blockchain
applications is still very limited, composed mainly of wallets, online exchanges, a small number
of smart contract services, and monitoring tools. Most of these are not user friendly or widely
understood6. Likewise, the number of skilled experts and app/smart contract developers is
limited, just now starting to grow. In short, the space is fragmented and in need of a platform
that ties these stakeholders and applications together to yield much greater value for the
broader market.

We see the next wave of advancement for blockchain being focused on building the application
ecosystem to bridge the blockchain protocols with mainstream consumers. This is the only way
for widespread adoption to really take off.

As the last few decades of innovation have shown, leveraging a network can create the change
required to solve problems of this scale. Modex’s Smart Contract Marketplace and payments
ecosystem will be an essential application hub for these developer resources and user
applications.

To make this happen, it is essential for us to catalyze the network effect for smart contract
development & deployment. This requires that tools be built for all types of business and
consumer use cases. This is what Modex’s Smart Contract Marketplace is all about. We will
leverage our existing products and services to facilitate a successful ecosystem for smart
contract development and use. We hope that the result will be widespread crypto-currency use
and smart contract deployment for real world business and individuals alike.

6 https://coss.io/documents/coss-whitepaper-v2.pdf

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 One significant example of the problem resides in the
global payment world that is still fragmented by
payment applications like Square, Venmo, and PayPal.
We see the need for a truly borderless global transaction
network because this is the trend for the flow of
business transactions and social payments. With people
being far more mobile, where international lifestyles and
businesses are becoming the norm, growth of
international transfer costs are substantial. This cost is a
big inhibition to the lifestyle trend of the global
population.7 This is just one major real world problem
that Modex is poised to solve.

7 http://image-src.bcg.com/BCG_COM/BCG-Google%20Digital%20Payments%202020-July
%202016_tcm21-39245.pdf

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Solution
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.

The Modex platform is architected to offer the entire crypto-currency community the ability to
engage with their preferred companies, customers, traders, and friends.

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The Big Picture Solution
At Modex we recognize that the world has moved beyond a general ‘globalization’ into a more
‘gLocal’ hybrid, meaning global+local. This is why we have adopted this ‘gLocal’ mindset
meaning we look at global trends as they pertain to localized social behaviors and translate that
into the design of our products focusing on the user experience. For instance, it is common to
see people relocating themselves to study or seek better working opportunities. It is often the
case that loved ones are left behind. On our existing Moneymailme app users can send money
to their loved ones and reply with a pic or video that captures the flow of money and the value
of that transaction beyond the monetary exchange. This is just one of the many examples of the
Moneymailme app’s utility.

We are now creating a Modex platform that includes a Smart Contract Marketplace, a
Moneymailme wallet with new crypto-currency features, M3 Payments, and APIs for 3rd party
applications to deploy a wide range of smart contracts.

We breakdown our ecosystem into three primary parts:

1. Modex Smart Contract Marketplace is like the “app store” and GitHub in one platform1
.

2. Apps: Open APIs for app integration with Modex Marketplace for smart contract
deployment. To kick off the ecosystem, we will start with Moneymailme, our multi
currency wallet that allows users to make social payments in multiple currencies
including crypto-currencies. Users will be able to easily and safely use fiat and crypto-
currency assets side by side, sending those assets to friends, merchants, or other
contacts.

3. MDX Token: Modex’s MDX token is the underlying utility token for transactions in the
ecosystem.

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MDX Token Utility
Modex is a token driven marketplace ecosystem that increases accessibility, trustworthiness
and community of blockchain enabled smart contracts. It empowers rapid adoption for all
parties involved, including buyers and developers of smart contracts to start, with opportunity
for consumer engagement in the future.

Modex’s MDX token is the ERC20 utility token, built on the Ethereum blockchain.

The MDX token is for Modex’s Smart Contract Marketplace and App ecosystem. All services
and features within MODEX will be paid for and remunerated in MDX tokens.

The MDX token will empower the following functions:

● Pay platform service fees

● Pay product fees
● Make smart contract purchases
● Gain access to a complete suite of API’s for decentralised transactions.

Smart Token Model:

Following Bancor’s smart token design, Modex will implement a two token system, where smart
tokens are utilized within Modex to provide (a) token changer, and (b) a network token
functionality. The smart token will work in concert with Modex’s MDX utility token, however it
will not be made available before the ICO. More details on this functionality will be released
before the ICO.

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Planned Product EcoSystem

Modex Smart Contract Marketplace

The Modex Smart Contract Marketplace provides a forum for developers to showcase their
skills and offer smart contract solutions to buyers and/or other contributors. It provides a way
for the real-world community to easily find smart contracts that meet real-world needs, without
having to scout developers and manage one-off development projects for their individual
project. At the same time developers can build a reputation and pipeline based on their
accomplishments, allowing them to get clients and build a recurring revenue against the on-
going sale of their smart contracts. Simultaneously, all user types will have the added benefit of
being able to utilize an array of smart contracts from within their Moneymailme app or through
M3 Payments B2B service.

Smart Contracts
Smart contracts are blockchain applications that allow developers to define “self-executing” and
“self-enforceable” transactions. These can be transactions of money or a variety of other forms
of data. Smart contracts remove the need for a “trusted third party” by providing a transparent,
auditable, enforceable, and affordable means to conduct a variety of transactions over the
blockchain. There are so many different possibilities for smart contracts, which is why we are
creating a marketplace to facilitate their development.

You can use smart contracts for all sort of situations, ranging from financial services (such as
loans, or recurring payment programs), to insurance, identity, breach contracts, property law,
rental agreements, credit enforcement, legal processes, crowd funding agreements, and much
more.

The Modex Smart Contract Marketplace will start by focusing on Ethereum based smart
contracts. Over time Modex plans to add the ability to support various protocols that also have
smart contracts functionality. Modex is considering protocols such as: Waves, Coco, Komodo,
Ark, etcetera8. Additionally, Modex Markets will offer APi’s for other applications to integrate
with our smart contract ecosystem to further widespread smart contract deployment across a
variety of industries and use cases.

Marketplace Workflow Overview

8 Note: these are examples, Modex will officially announce which protocols it can and will support upon the release
of Modex Markets.

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 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.

Revenue Model
From the revenue raised from the sale of smart contracts 15% is allocated to Modex for
continued operations and development, 15% is allocated to a bounty pool, which will be used
to incentivise new developers to create projects for Modex via Hackathons, Training
programmes, etc and the remaining 70% is paid to the developer. From there the developer can
decide how much is given to other contributors (for auditing, pentesting, etc).

Receiving Person Stage of Receiving Amount Received

Modex Market Developers Create Community Contracts, 70% of transactions

Review/Audit/Test, Create

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 Custom Contracts

Modex Community Fund Bounty pools for projects, 15% of transactions

fund incubator projects, fund
community requested platform
features,

Modex Inc. / Platform Facilitation of platform, operations 15% of transactions

and ongoing development.

Marketplace Benefits
The Smart Contract Marketplace will benefit the community tremendously by both providing a
revenue source for smart contract developers and by making the blockchain technology easier
to implement for buyers. Many buyers will require similar contracts performing the basic tasks.
However, finding and hiring a blockchain expert to write these from scratch then investing time
and money into testing them for security is a big hurdle in adopting this technology. By tapping
into the Smart Contract Marketplace, buyers will be able to benefit from smart contracts that
they can purchase ‘off the shelf’ without having to incur the costs of hiring the relevant people
to create their own bespoke smart contracts from scratch. Simultaneously, buyers will be able
to commission smart contract development for customizations and special use cases.

Buyers will pay MDX tokens for access to smart contracts, developers, and reviewers.
Stakeholders will be rewarded with MDX tokens for developing contracts -or- for auditing other
people’s work. The Smart Contract Marketplace has the potential to fast-track the mainstream
adoption of blockchain technology for buyers by providing:

● Easy, fast, cost-effective access to useful, complex contracts that deliver useful
functionality
● Low risk due to the peer review and pen testing process
● Derisking development, by reducing the investment in finding and hiring blockchain
experts

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Marketplace Features
The Smart Contract Marketplace will deliver a 4 tiered solution:
1. Plug-and-Play Smart Contracts: Ready made contracts provided by developers, peer
reviewed and pen tested, that any buyer can use.
2. Custom Smart Contracts: A Marketplace where buyers can contract developers for
building custom smart contracts, that can be kept private, or resold on the marketplace
depending on their agreement.
3. A Visual Smart Contract Builder: A visual smart contract builder aimed at smaller buyers
where non-programmers can build basic, or customize smart contracts by dragging,
dropping and connecting basic building blocks
4. App Integrations: Ready to go integrations with 3rd party apps, including our payment
apps for merchant payment gateway M3 Payments and a multi-currency mobile
payments wallet Moneymailme. Modex will provide APIs for 3rd party integration with
other apps. This way buyers can easily deploy the desired smart contract and meet their
real world need.

These tiers provide value for both buyer and the community, regardless of the level of
complexity that a buyer requires from its smart contracts.

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Marketplace Rollout
We are planning the marketplace rollout in 4 main stages:

1. Developer Enrollment: We will allow developers to join individually and to create

company profiles. To start, developers will be invited and vetted to join the platform, to
establish a high level of quality and trust. Developers will be able to login with their
GitHub account and easily link it to reference their portfolio’s.
2. Smart Contract Development: Modex will identify a list of smart contracts to prioritize
by creating a bounty program that both attracts development talent and seeds the
marketplace with strategic smart contracts for launch. Modex Marketplace developers
and buyers will both be able to propose smart contracts, identifying the various use
cases for smart contracts desired by the community. App integrations, smart contract
search results, and developer proposals will all play important roles in the evolution of
Modex’s Marketplace launch.
3. Marketplace Engagement: The marketplace will initially cater to early adopter
companies and application providers that need a custom and / or private contracts.
These may be either more complex smart contracts or just different from what is initially
available in the store. To further engage buyers and developers, once a number of smart
contracts have been built and are regularly used, Modex will release the visual builder to
make smart contract customization and deployment even more efficient.
4. App Integrations & Partners: To help the marketplaces growth, Modex will create
bounty pools and build partnerships to incentivize collaboration between the smart
contract development community and end-user applications. This will be crucial to
achieve smart contract deployment and blockchain technology adoption beyond the
Modex Marketplace.

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Existing Product Ecosystem

Moneymailme
A Multi Currency Social Payments
Wallet

A variety of crypto-currencies and tokens

will be available within Moneymailme.
Users will be able to hold wallets in
multiple fiat currencies. This will make
exchanges between fiat to crypto and
crypto to crypto available on demand. The
interoperability will be served by backend
partners.

In order to facilitate the easy adoption and

use of cryptocurrencies, users can
transact in the currencies they are familiar
with. By allowing both crypto and fiat
transactions, we aim to significantly
reduce the onboarding time by reducing the complex barriers to entry
users will no longer need prior experience with crypto-currency. This will surely enable a large
audience to benefit.

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Modex Virtual and Physical Cards
Modex will remove the barriers to sending and receiving money instantly. Users will be able to
apply for both virtual and physical cards in the currency of their choice through the MDX
wallet.

Our cards can be used in 180 countries with 10 crypto and Fiat currencies enabled, with more
currencies to follow.

The Modex Card & Moneymailme Wallet

Modex integrates with existing apps, both IOS and Android, enabling users to spend e-money,
cryptocurrency or even rewards points using the app transfer or a card.

The connection with Moneymailme

The Modex Card and Wallet will integrate with Moneymailme. The features of the card and
wallet will be available in Moneymailme as per the product roadmap.

How it Works
1. User signs up with their email address, postal address and phone number

2. User instantly has a multi-currency fiat and crypto wallet (including MDX tokens.)

3. Users can deposit funds in their Moneymailme wallet or by top up with an existing card.

4. User enrolls for a virtual and/or physical debit card. (Debit and Credit Cards will have various
limits until KYC is provided by the user in the app)

5. When an entity or individual makes use of their card, be that online or offline, funds are
converted in real time. There is no need to top up the card or convert digital assets beforehand,

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ensuring competitive rates at the time of transaction. The user can pre select which digital asset
they wish to use for card payments within the app.

Users will also be able to send funds between their Modex Wallets at zero cost.

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Real World Use Cases: Smart Contracts &
Cryptocurrency
This sections illustrates select use cases as initial starting points for Modex Smart Contract
Marketplace and real world applications. Given that the Modex team has already developed the
money transferring app, Moneymailme, it will be the first app to integrate with Modex
Marketplace and will showcase the benefits and functionalities that the platform can provide
for a variety of buyers who wish to implement smart contracts.

With the implementation of Modex’s APIs, Moneymailme will evolve from a network built with
regulated financial partners, into a sophisticated, platform, designed to engage the blockchain in
order to offer a state-of-the-art global payments infrastructure. This app will act as the ‘tip of
the spear’ for a broader ecosystem. As a back-end for other applications and web platforms -
Modex, can offer significant advantages for remittances, payments, merchant solutions, charity
donations, trading and peer-to-peer lending.

Business Use Cases

Accept crypto as a merchant while protecting consumers
Many eCommerce stores are looking to accept crypto-currencies from their customers.
However, for the consumer, the protection they are used to getting while using a credit card or
a service like PayPal is just not there.

M3 Payments, our merchant payment gateway, and Moneymailme will together will integrate
with a suite of smart contracts from Modex’s Smart Contract marketplace to provide critical
consumer protection and backend merchant services to make accepting crypto’s practical for
everyday businesses. Consumers expect charge-back functionality as a baseline of consumer
protection when a dispute occurs with merchants. With smart contract integrations escrow can
be established to secure transactions until they are satisfactorily completed.

On the merchant side of the equation, businesses need a range of crypto-settlement and cold-
storage services to be able to manage cash flow without big headaches. Namely, merchants
need to be protected against crypto volatility and timely payment settlements. With smart
contracts, merchants will be able to automatically convert into fiat and/or keep a percentage of
their revenue in cryptos and thus store them safely (with integrated cold storage options).
Merchants will be able to purchase the desired smart contract from Modex with MDX tokens.
While MDX will be used for Modex purchases it is not required to be the primary currency for
Merchants or consumers within the various apps or smart contracts they buy or use.

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Sophisticated B2B payments
Past a certain size, any business requires different payment terms for different categories of
vendors, employees and service providers.

A business leveraging Modex can easily deploy sophisticated smart contracts that provide
different payment terms (number of days, pre-payments, etc.) for different vendors. One vendor
might be paid within 90 days, while another within 30. This period can automatically be
adjusted down if the vendor is part of the same ecosystem and it pays its own invoices quickly.

The company can also easily use “rewards” smart contracts available in the store, combined with
the Modex crypto cards, to provide its employees with different tiers of business cards that
allow them to either access different benefits or to pay for specific services based on the job
position and pre-approved budgets.

Transparent NGO and CSR financing

An enterprise looking to sponsor an NGO or run a CSR program is facing pretty daunting
transparency issues: how effectively is the money being spent? What's it spent on? How much
ends up in the hands of the NGO target, as opposed to running the operation or being wasted?
Modex can help enterprises get a clear, transparent picture of what happens with their funds.

An enterprise can also issue an MDX white label token, backed by collateral, such as fiat, to
avoid volatility or exchange demand issues. They can then set the fundraising or donation
parameters and once the fundraising is complete, make the funds available to the sponsored
program, such as an NGO or their own CSR program. As the tokens are being spent by the
NGO, the NGO suppliers can request the collateral equivalent of the tokens. Everything up to
this point happens on the blockchain. This makes the whole process completely transparent for
the NGO and the sponsoring enterprise.

Employee Benefits
In order to support large companies in the process of implementing CSR good practices, the
MODEX ecosystem can be utilized for improving the employee behaviour and become part of
the benefits system for these companies. This way, the blockchain technology can be further
used for levering the beneficial impact that corporations have on the world, further than the
working desk.

The steps for an organization to create and use proprietary tokens based on the Modex
infrastructure are:

1. Using the Modex centralized SDK tools, the organization sets the parameters of the CSR
token (e.g. type of goods to be used for, timeline for earning and spending the tokens,
type of compensation etc)

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 2. The corporation distributes the tokens to its employees, based on their own deployed
smart-contract. The employees can hold and trade their CSR tokens by using any
Ethereum ERC20 wallet.
3. The employees can spend the tokens on goods and services as described in the smart-
contract.
4. The final receiver of the tokens (goods vendor) can claim his funds based on the
equivalent in MDX tokens.

Micro-lending
Through integration with Moneymailme, users will be allowed to explore the micro-lending
opportunity within Modex, by being MDX token holders.

The decentralised technology will enable small peer-to-peer loans, by using the Modex
infrastructure. With Modex, a borrower’s assets like Bitcoin and Ethereum will be used as
collateral. We plan to streamline every step of the loan process, facilitating a new blockchain-
backed lending market, which gives borrowers access to capital-on-demand through its network
of lenders.

By focusing on the value of the borrower’s assets instead of their credit score, we plan to
dramatically reduce the complexity and costs of the loan process. During the life of the loan, the
platform will monitor the value of the underlying collateral and keep it securely stored in a
smart contract architecture. The Modex API will give lenders a new vehicle for accessing
blockchain assets while allowing borrowers to simultaneously preserve and capitalise on the
value of their holdings.

Transparency is the key ingredient when discussing loans. The technology behind our system
will allow all transactions to be unaltered, fast and transparent, each transaction representing an
individual asset that cannot be tampered with and will require authorisation to confirm validity.

Modex will automate the entire micro-lending process for peer-to-peer, in partnership with
Moneymailme, by using smart contracts. One of the inconveniences of lending small to medium
amounts of money to friends is the awkwardness of retrieving the amount.

The Moneymailme app will allow its users to use as collateral the MDX token as well, besides
Bitcoin and Ethereum, thus increasing coin market value. In this case, if the contract ends and
debtor didn't pay back the amount owed, the contract will automatically take care of paying
back the lender.

The Peer to Peer lending process

Scenario 1:

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The lender provides an interest free loan taking the equivalent value in MDX tokens from the
borrower as collateral but getting nothing in return on the basis that the lender and the
borrower are friends; or

Scenario 2:
The lender sets, in the smart contract, the amount of interest he wants to charge on the loan.
This will be done through a simple to use UI, (i.e the lender doesn't code the smart contract, the
lender just selects the amount to be provided on op. (either in % or $ amount).

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Group Payments
Group payments represents a service that will be provided as a
result of integration between the Moneymailme app and Modex
platform. It allows users to easily create pools of cash through
group payments system. This comes in handy for those who are
chipping in on a purchase or splitting bills. The payment feature
works fundamentally the same in group chats as in private ones.

Due to the fact that Modex utilises smart contracts, users will be
able to choose the members involved in the pool of funds, and
what combinations of crypto’s they want to use. Using
blockchain technology, each member of the group will play a role
in the validation of transactions.

Charity Communities
The Moneymailme app contains an embedded charity section
which will benefit from integration into Modex.

This section displays an array of causes which act as

communities. Each community has a group administrator.
Following integration with Moneymailme, a group
administrator can request split donations from members of
the community. Within communities, administrators can pre-
determine monthly payments which will be automatically
debited from members’ accounts (as long as funds are
available).

Through the implementation of smart contracts, Modex will

allow charity communities to set up automated payments,
using a custom rule with the following parameters: date and
amount of money. Based on this rule funds will be
automatically transferred from the signer’s wallet (member of
the community) to the community administrator’s wallet.

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 Roadmap

Q4 2017 Q1 2018 Q2 2018 Q3 2018 Q4 2018

Integrations & - Third party payment - Multi-currency wallet & card eCommerce & POS Implement third-party P2P lending with Bitcoin
Services gateway & exchange integration in Moneymailme support, Cold Storage in escrow service and Ethereum backings
- Bitcoin-based credit cards - Ethereum based credit cards Modex Wallet

API Platform API guidelines & stubs Payment gateway & White label token issuance Escrow service APIs
exchange APIs tool

Smart Contract Setting up security audit - Starting development for Implementation of first - Smart Contract Store
Store and pen-testing processes Smart Contract Store Smart Contracts Launched
for the Smart Contracts - Community outreach for - Vetting process for pre-
shortlist of smart contracts approved developers
Enterprise Apps Corporate tokens issuance Enterprise access to store
tool. White-label solution Smart Contracts
for companies

Marketing Conferences & Events Launch 2018 Marketing Ongoing, Inbound & Publish campaign progress, Ongoing campaigns:
Campaign: Bounty Traditional Marketing launch EOY Modex event Announce 2019 Crypto
Programs, Crypto Cities, City & Incubator Programs
Incubator Launch

Business Dev Announce Partnerships M&A Due Diligence Launch Partner Program Acquisition
Announcements

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 2019 2020

Modex Wallet OmniChannel

Integrations & Commerce Integration(s), Modex Wallet IoT ‘touch
Services Privacy Wallets, & KYC and go’ payment tech
support

API Platform
Lending APIs

Smart Contract - Opening the Smart Contract store to all developers Launching Visual Contract
Store - Launching the Smart Contract Marketplace Builder
- Start building Visual Contract Builder

Enterprise Apps Enterprise Centralized Application - private blockchain

integrated with the end-to-end payment solution

Marketing Crypto Cities v2.0, & Online SmartWallet Program

Incubator program Launch,
launched,

Business Dev Inhouse Cold Storage, IoT sector focus

CryptoCoin partnership(s)

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Token Sale Use of Funds

Overview:
We will issue up to 197,333,328 tokens during our initial token offering. An additional 35% of
tokens issued will be created, where 8% of these tokens offered to sale participants will be
issued and allotted to our Team and Advisors to align our interests with those of the
community, and 27% held by the company as a token reserve. This creates a hard cap of
303,589,735 MDX Tokens.

Our token offering will fund the growth of cryptocurrency adoption and smart contract
deployment, first and foremost. We have designed our token allocation to focus on both of
these priorities. We have designed a robust innovation hub and bounty pool program to reward
developers, and users alike for participating in the adoption process. A major component is
allocated to a marketing pool for a grass roots cryptocurrency “giveaway” program, to help
communities around the world bring cryptos into their daily lives. This activity will facilitate the
adoption of smart contracts, blockchain applications, and crypto’s working together. Our fund
allocation plan below will outline how we will handle funds raised in more detail.

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Fund Allocation Details:
Modex funding will be allocated across four primary segments of business activity:

1. Overheads
a. Admin
b. Operational Costs
c. Legal

2. Research & Development

a. Product development and technical implementations
b. Community Innovation Hub:
● Fund talented 3rd party developers
● Prioritize key smart contract development for launch, in house.
● Incubation of promising blockchain and payments and commerce startups
3. Marketing
a. Traditional Marketing:
● Online and offline
● Advertising
● Inbound marketing

b. Community Outreach
● Participation in blockchain industry events
● Other FinTech Conferences
● Creative media

c. Community Engagement: “Crypto City Adoption” program

● Seed Funding Community Initiatives
● Giveaway program
● Community driven bounty program

4. Business Development
a. Strategic Partnerships
■ Enterprise & institutional partners that seek to deploy smart contracts
and blockchain solutions in their respective verticals
b. Mergers & Acquisitions
■ In order to develop the full spectrum of value within our Modex
Marketplace network, we plan to acquire strategic companies/apps and
smart contracts to deliver a strong ecosystem to the market.

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Team and Partners
We are a team of experienced professionals spanning numerous industries. Our core expertise
includes banking and financial software including employees who combined have over 40 years
of experience from Oracle, Unisoft, Temenos, and Deloitte. Our team and advisors have built
and exited various successful startups, held senior positions in top Fortune 100 companies, with
a collective experience that spans a variety of industries including (but not limited to): telecom,
tech, retail, wholesale, mobile & eCommerce, entertainment, marketing services, and of course
the blockchain industry.

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Traction: Products Portfolio

Modex Team Major Milestones & Accomplishments:

● Total Investment Funding Received: $2.99M
● Success launch of Moneymailme: June 2016
○ 500,000+ downloads
○ 130+ countries
● M3 Payment October 2017 launch planned

Moneymailme Money Transfer App

The Moneymailme Money Transfer App is available for free on iOS AppStore and GooglePlay.
The transfer fees are zero for same currency transfers within our network of e-wallets, in order
to encourage as much traffic as possible and reduce any friction in the early surge of sign-ups.

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Users can easily send amounts in six different currencies (EUR/USD/GBP/PLT/CHF/ZAR) at
very competitive rates, the company taking 0 FX risk due to the implementation of Touch FX
risk management infrastructure. This way Moneymailme manages to considerably reduce the
costs for the user and generate a revenue stream through the currency spread.

M3 Payments
M3 Payments is the B2B division of the award winning money transfer app Moneymailme (Best
Social Payments App United Kingdom 2017). By using M3 Payments, companies worldwide can
benefit from a comprehensive international payment platform with great rates and control
exactly what they are paying for with the service.

M3 Pay
Online retailers are now able to offer
a new way for their customers to pay
on their website by using the
Moneymailme app. The new simple,
fast and secure method will offer an
attractive instant payment option for
Moneymailme’s customers around the
world and keep fees as low as 0.75%
per transaction for retailers.

Moneymailme Physical and Virtual Cards

Moneymailme is offering customers the chance to get virtual and physical contactless
MasterCard® prepaid cards that can be used to spend money directly from the e-wallets. The
cards can also be used to withdraw money from ATMs. The cards use our system for currency
exchange, converting into local currency at very competitive rates.

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Modex Token Sale Overview:

Why an Initial Token Sale:

The Modex team already has substantial funding and market traction in place. This is evident
considering that the Moneymailme multi-currency wallet is in commercial use with a growing
international user base and there is a multi-crypto currency update scheduled for release later
this fall. Additionally the recently launched M3 payments gateway services is now ready for
commercial use.

Modex recognized a clear market need and opportunity to bring this ecosystem together with
the smart contract marketplace; building on top of our existing applications for an easy path to
deployment. Moreover, it did not make sense to continue pursuing traditional venture capital
as token sales offer a myriad of additional benefits, for both the investor and user communities
alike.

Modex’s product philosophy and marketing philosophy mirror one another, as both closely track
social trends. Our marketing approach is all about community engagement and empowerment,
through an organized ecosystem of developer tools, consumer applications, and incentives.
Given that there are a number of other great organizations who are working to address the very
real liquidity challenges (e.g. Comit, Bancor, etc), that we can simply partner with, Modex can
focus its efforts on the smart contract marketplace to bridge the gap between businesses,
developers, and real-world users. The applications and smart contracts empowered by the
Modex marketplace will increase blockchain adoption and our team has previous experience
working in this space.

We are confident that our approach will significantly advance market adoption for smart
contracts, blockchain technology, and thus cryptocurrencies alike, serving many in need around
the world.

Token Sale Official Website:

Visit Us At: www.modex.tech

Token Sale Schedule:

Modex Official Initial Coin Offering “ICO” Announcement: September 8, 2017
Modex Pre-Sale: September 28th, 2017 (open to the public)
Modex Initial Coin Offering: Starting October 8th, 2017 (open to public)

Modex Pre-Sale: Sept. 28th 2017

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The pre-sale event will be open for 10 days, starting at 9am Central European Time CET.

Modex Initial Token Offering: October. 8th 2017

The initial coin offering will be conducted over 30 days, in 3 stages. Every ten day cycle the
token price will increase. The 30 day event will start at 9am Central European Time CET. Once
the first “stage” is complete the next stage will begin, following the conclusion of that 24hour
cycle. Therefore, if the first stage completes within the first 2 hours, the next stage will begin at
9am the next morning.

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”.

Tokens will be priced accordingly:

Round Token Price MDX Token Availability

Seed closed 888,888 Private Sale

Early Bird closed 8,888,888 Private Sale

Pre-Sale $.40 88,888,888 Public 12 days

ITO $.80 88,888,888 Public 10 days

ITO stage 2 $1.60 8,888,888 Public 10 days

ITO stage 3 $2.40 888,888 Public 10 days

197,333,328 Total Issued To

Participants

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Community Support :
To learn more about Modex and engage with our community please join us in any of our
following forums:
Slack
Facebook
Telegram

Please be sure to signup HERE to get regular updates regarding our token sale.

Jurisdiction & Governance:

Modex has hired several independent legal and strategic advisors to ensure that Modex has put
in place a strong governance policy, and has the appropriate legal structure in a robust
jurisdiction with respect to international regulation of Modex’s initial coin sale . Modex is being
advised by Hassans International Law Firm based in Gibraltar and Itiriv who are an experienced
advisory and consultancy company.

Following the advice by Hassans and Line Group Limited (a Hassans’ company incorporation
and management affiliate), Modex has formed a special purpose vehicle (SPV) to issue the
tokens to participants and to collect and hold the participants’ contributions until they are
dispersed to the operating company executing the roadmap and plan.

The Gibraltar SPV know as the Token Issuance Company will be the holder of the funds raised
in The Modex pre sale(s) and token sale (in BTC, ETH, ERC20 tokens, or Fiat Currency). The
release of funds to the operating company will be made in line with the roadmap and project
deliverables and milestones being met. This process will be overseen by our governance board.

MDX Initial Token Offering: Cyber Security & Independent

Auditing:
To ensure that the MDX token offering will be as seamless as possible, Modex is having the
MDX smart contract audited by two independent parties prior to the token offering. Once the
independent auditors have completed their review, and once any issues that have been
discovered have been adequately addressed Modex will open source the token contract for a
public audit, with a bug bounty in place for the discovery of any unresolved issues.

Additionally, the Modex Token Sale webpage and all other pages owned by Modex or its
partner organisations have been fully audited by reputable cyber security professional in order

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to reduce the risk of cyber attacks such as hacking or phishing. (Please see Terms and
Conditions).

Funds Storage:
Participants in The Modex token sale will send their funds to a secure multi signature wallet. All
token sale funds will be held in a secure multi-signature wallet address, with a multi-key
structure with 5 key holders. The multi signature keys will be held by three of the Modex Team ,
a Partner at Hassans and a Member of the Advisory Board. Movement of funds will require 4 of
5 signatures, of which one must be Hassans.

Terms & Conditions:

All token sale participants are required to review, understand and agree to our terms and
conditions to be eligible to participate in the initial coin offering, also known as the token sale.
These terms and conditions can be found on our website at: modex.tech/termsandconditions.

Closing Remarks:

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We are deeply committed to the advancement of blockchain technology and crypto-currency
adoption worldwide. Focusing on real-world applications and the social behaviors that make our
world turn, we know that the result of attaining our goals will redefine life on earth. The status
quo of money, banking, trade and commerce needed a reset, and this wave of innovation is
irreversible. The question is how fast and how smooth can we (humanity) be in our collective
transition to this new system of money, value, and technological advancement?

Our vision is big and it cannot be accomplished alone, or strictly in-house. It takes a village to
raise a child and a community to realize a dream.

Thank You
We sincerely appreciate you taking the time to read our whitepaper and explore our vision. We
welcome your feedback and look forward to connecting with you in our forums.

Thank you for joining us this far! We hope you decide to get more involved with the user
community and participate with us to move the entire blockchain world forward.

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