Thank you for always supporting Morpheus Labs. Morpheus Labs is comprised of a global community of developers, enterprises and token holders, all of whom play a vital role in the success of the ecosystem. With the release of Morpheus Labs SEED (BPaaS V2.0), our business development activities continue in accordance with our Go-To-Market strategies. As such, we would like to give you an update on our token distribution and movement.
Token Distribution of Original 1B:
- Token sales 25%
- Team 10%
- Foundation 10%
- Ecosystem/Partnership 15%
- Reserve 10%
- Listing (New) 30%
1. Circulation — 34.8+% (348,379,945 MITx)
With a progressive increase of total 12,329,668.99 MITx is locked under platform wallet
2. Token burn — 25.3% (253,000,005 MITX)
Remaining up to 19.7% to be burned in the next 32 months.
Please find the proof of burn below:
3. Team — 10% [Extended lock up]
The Team wallet is reserved for the future incentives of the core team members. To show our continued commitment to Morpheus Labs and its community, the Morpheus Labs Team has decided to extend the lock-up of the tokens until the end of 2020 followed by a review by the management team thereafter.
4. Foundation — 10%
To grow our community base and awareness, the Foundation wallet will be utilized for business development activities progressively to prevent selling pressure.
(BD activities are not limited to joint marketing efforts with our valued partners, content development, events, subscription incentives, and more.)
5. Reserve — 7.9% [Extended lock up]
The Reserve wallet will extend token lock-up till the end of 2020.
6. Listing and related matter — 8.3%
We will continuously explore new exchanges and related to the most cost-effective approach possible.
Wallet Address: 0xf7319ed0f5eba1f0acb2726fa8ad61628546e13f
Wallet Address: 0xe2176a7902c5b98a08b7834d429df9439e1b5578
Wallet Address: 0x88bd4f34cfad4a61889eb54f65fcdb66797c420f
ML-Exchange (For Exchanges Related & Token Burn)
Wallet Address: 0x3946964de44f51cba79ca5dcf00782a3050bab3a
*Please note that the above wallets are Multi-Signature (MultiSig) wallets.
With Morpheus Labs SEED, we continue to increase our brand presence while we enhance our platform to meet enterprise needs. Our objective is to help both enterprises and developers to adopt blockchain easily at a low cost by providing them the best infrastructure, environment and tools to create high-value innovations.
There is no action required from any of our token holders. This is simply a controlled movement — normal in any kind of project that is tied to a token. As Morpheus Labs treats the utility of the MITX token with the utmost importance, the team will carefully manage and review future usage scenarios of the tokens and the reserve funds. The community will actively be notified and involved if this position changes.
Thank you for your kind attention.
Morpheus Labs Team
Headquartered in Singapore, the team at Morpheus Labs comes from diverse backgrounds banded together, has created Morpheus Labs SEED (Solution Environment for Enterprise Development), a go-to platform offering mission-critical tools, infrastructure, various blockchain protocols, and blockchain use case references for enterprises and developers to build, experiment and manage their own applications effortlessly at minimal cost and time.
Refer to https://docs.morpheuslabs.io for further information about Morpheus Labs SEED.