An important announcement on distribution of smartdrop batches

Morpheus Labs
Sep 4 · 2 min read

Dear Community,

We’re halfway through the distribution of the smartdrop batches (3/6) and have been monitoring the batches and distribution closely. We’ve seen a significant increase in illegal and unethical behaviour in the distribution of the batches that is hurting the stability of the token in a negative manner which is also hurting the community as a whole. Multiple addresses have been transferring their batches to one address to then market-dump their tokens. There is an increasing number of people who ‘claim’ to never have gotten their tokens – while if we follow the TX id’s, they have sold and then try to get more. There were E-mails, private messages and even threats hurled our way for more distributions.

As such, we’ve been advised by our legal council to put KYC in place for the next smartdrop batches, which will be a process we’re outsourcing to a company specialised in this. Your KYC will be in safe hands and it’ll save the company manpower and time, so we can focus on growing on the platform exclusively. Most importantly however, it will make sure the token remain in a safe position in which we all benefit.

Because we’re hiring an external company to verify all KYC’s, the next 4th batch smartdrop distribution on 4th to 9th Sep will have a slight delay and will gradually be released between September 9th to September 13th.

We seek your kind understanding and patience in this matter.

Ps: Never reveal your private keys to anyone, get a hardware wallet, keep a backup of your private key in case you misplace it.

Yours kindly,

The Morpheus Labs Team

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