Tolga Odoğlu
May 22 · 2 min read

Dear MenaPay Community,

As you know; we have decided to conduct an Initial Exchange Offering (IEO) in order to bring global coverage and reach wider MenaPay supporters from all around the world. The IEO was conducted from the 15th of March to 15th of May 2019 with agreed 12 global exchanges. Unfortunately, we have sent a small percentage of our tokens (less than 1% of the total amount of the issued tokens) to officers who used the CoinEgg email address and Exchange name for the IEO token sale process. Still we don’t know if these scammers are CoinEgg employees or individuals who used their email signature. Due to the hype of the IEO’s, it has become very popular for individuals to use this as an opportunity to scam start-ups and investors and we wanted to take fast measures and precautions.

In order to avoid any damage to our project as well as our supporters and community; we have made the decision to re-issue our ERC-20 based MPAY tokens. This way; the MPAY token price fluctuation will be avoided by restricting them to dump the token price after the listings. As one of our biggest motivations in this project is trust and transparency; it is our duty to inform our community and supporters about this unfortunate incident and the measures we will be taking in order to protect our community.

New MPAY token contract address is:

0x3810A4Ddf41E586Fa0dbA1463A7951B748cEcFca

The reissuing will not be affecting any token holders as all MPAY tokens will be swapped with the new MPAY tokens before the listing date. The listing date is announced on the 1st of June 2019. It is extremely important for us to be transparent with our community and token holders as a company believing in the blockchain transparency. Please keep in mind that you do not need to do anything and our team’s decision on re-issuing is to protect all token holders as well as to avoid any harm from these individuals to dump the price after listing. Each token is valuable and belongs to token holders, who have believed in this project and invested with their own money. Our mission is to make sure that the token holders are being protected and their decision on buying MPAY tokens will be rewarded.

As MenaPay token sale period ended, we also want to announce that total 8,2M USD worth of MPAY tokens sold during the token sale period and we reached 2.846 token holders. Thanks to all our supporters.

Sincerely,

Tolga Odoglu
Managing Director
The MenaPay Team

MenaPay

Crypto made easier than cash in #MENA

Tolga Odoğlu

Written by

Managing Director at MenaPay | WeChat ID: TolgaOdoglu | Telegram:@tolgaodoglu | LinkedIn: tolga-odoglu | Twitter:@TolgaOdoglu

MenaPay

MenaPay

Crypto made easier than cash in #MENA

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