An Address to the Community on the Movement of Tokens

Published in

Morpheus Labs

2 min readApr 16, 2019

Dear Community,

At Morpheus Labs, we believe in transparency in the things we do. As such, we want to make our community aware when there is a movement of MITx tokens. In general, token movements are part of the company’s efforts in meeting our goals as set out in the roadmap. This is necessary as this will form part of our strategic move to create more awareness in the market and gain market share.

Thus we decided to address this and indeed, there has been some movement of tokens to the respective wallets to ensure better governance as we work on a few things but not limited to:

Community Management and Partnerships
Upcoming Campaigns (e.g. Smartdrop)

Most of the movements will be made out of the amounts dedicated for below uses;

A) 20% for Exchanges Related & Token Burn

B) 10% Foundation

C) 10% Team

D) 5% Reserve

Specific to A, we had earlier mentioned in our article on Token Burn, we will be conducting monthly token burns progressively throughout the next 48 months.

The burn will be capped at a maximum of 45% of the initial circulating supply (450M MITX out of 1B), leaving us with an estimated supply of 550M MITX tokens however this final circulating supply will vary subject to the tokens used for exchange-related activities and similar expenses.