Announcement of Morpheus Labs’ Smartdrop Ends

Morpheus Labs
Nov 4, 2019 · 2 min read

Dear Smartdrop participants,

The Morpheus Labs’ Smartdrop token distribution is now completed.

We would like to thank everyone for your support, patience and kind understanding despite the decision to integrate KYC due to compliance reasons. The team rather took time to plan the procedure carefully so that the KYC and distribution is fair to everyone in our community.

The reasons for mandatory KYC integration are listed below:

  • 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.

Participants who did not receive any notification after KYC submission did not pass the KYC. We can’t give out the reasons for this as it’s considered as a form of tipping off.

Lastly, we also would like to thank our community partners, Tommo, Robbie and Rune for attending to our community and help them with their queries during the distribution process.

Thank you for your attention.

Yours sincerely,

Team Morpheus

PS: We will not use your personal data for purposes other than what we have informed you, or which are permitted under local laws and regulations. We will not offer, publish or share your personal data with third parties outside of the Morpheus Labs for commercial purposes, without seeking your explicit permission. All data collected for KYC procedure will be deleted after distribution is completed.

We would love you to be a part of our Community! Join our official Telegram group chat:

See Morpheus Labs Telegram Guide

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Morpheus Labs

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