Mochimo Update — The right side of the fence.

Besides the threat from quantum computers (a problem Mochimo has already solved), most modern crypto currencies also face a threat from regulation. This threat was the deciding factor behind the decision of the Development Team to not offer an ICO. Recently, the SEC informed the Crypto community that Airdrops could be considered security offerings.

Up until the first week in June 2018, the Development Team had planned on conducting a 1:1 BTC Airdrop, however, based on the recent advice of our legal counsel, the team decided unanimously to cancel the Airdrop. The decision to cancel the Airdrop was not taken lightly, and made the team re-think the overall currency emission schedule to ensure that all adopters, early and late are treated fairly. We really want to make sure we come down on the right side of this fence.

The below information summarizes our new approach to currency emission and mining rewards:

Maximum Supply: 76,533,882
Mineable Coins: 71,776,816 (93.8%)
Mining Algorithm: Trigg’s Algorithm — PoW (Mochimo Custom CPU-Only, ASIC Resistant)
Difficulty Adjustment: Every Block Target Block Time: 337.5 Seconds
Genesis Block: June 25th, 2018
Network TX Fee: .0000005 MCM (fixed)
Starting reward: 5.0 MCM
Block Per Block Reward Increment (through Block 1,048,576–11 Years): .000056 MCM
Max Reward (Block 1,048,576): 63.720144 MCM
Per Block Reward Decrement (through Block 2,097,152, 22 Years): .000056 MCM
Final Reward (Block 2,097,152): 5 MCM
Total Mining Duration: ~22 years

Premine Details:

Bitcoin Parity Payment: Mochimo originally planned to conduct a BTC Airdrop with a 1 to 1 match, however this Airdrop was canceled due to the new regulatory environment.
Total Premine: 6.34% (4.76M MCM)
Dev Team Compensation Premine: 4.18% (3.2M MCM)
Other Premine (Matt Zweil’s Discretion): 2.16% (1.56M MCM)