Multichain Ventures Update: IEO and Roadmap

We are living through times of unprecedented uncertainty. In our global health, the health of the planet, as well as in our economies. It is my belief that this period will ultimately result in immense benefit for bitcoin, the cryptocurrency ecosystem, and the human race. But there are numerous critical challenges and hardships that must be overcome and endured over the subsequent months before we can begin to emerge into the next era of optimism. Perhaps longer.

During these pressing times, tough decisions often need to be made. In the case of Multichain Ventures, one outstanding decision is whether or not to execute a full public launch amidst the heart of the uncertainty surrounding us. Facing that decision, my instinct guides me away from answering in the affirmative. I see little benefit to going live now, instead opting for a more conservative approach, analyzing information as it forms, and identifying a more opportune time to go to market. What this means for our stakeholders today is that we are going to delay several aspects of our roadmap. Those include:

1. The close of the IEO and subsequent opening of exchange markets
2. Legacy balance snapshot and distribution dates
3. Staking schedule
4. Bounty distributions

Despite our pause on public market activity, we are still very much engaged in the pursuit of business development. Naturally, our opportunities have curtailed in that area as well, with the closure of many non-essential businesses that would be potential clients. However, this global event provides a sizable opportunity to present the value of eCommerce applications such as ours, alongside the intrinsic value of un-confiscatable digital currency, i.e. bitcoin.

We also promised the announcement of a substantial development in our business. Unfortunately, current events have lead to a delay in the publicizing of that relationship, though I anticipate we will issue a press release in the coming weeks. What I can reveal for now is that it is a first-of-its-kind partnership for any entity within the blockchain space, and has been 2 years in the making. I’m quite excited about the prospects it brings, not only for Multichain Ventures, but for the awareness it brings to blockchain.

Many of you are likely participants in the IEO at one of our partner exchanges. I am aware you have been eager to open trading. But to reiterate, the present market conditions are not favorable to execution on that endeavor. I do not want to see participants negatively impacted by volatile macroeconomic conditions. But I also do not want individuals to feel that their capital has been locked up without resolve. I will be coordinating with our exchange partners to facilitate refunds from users, upon request. We will be assessing the situation over the following weeks/months to determine an optimal launch period.

While I do understand everyone is excited to see us progress, please understand that our responsibility is to make decisions as strategically as possible to the furthest benefit of our stakeholders. This is one of those decisions. Amidst the uncertainty surrounding us today, with many of our lives invaded by chaos, I hope you take this time to improve yourself. Reflect on who you are, and the impact you have on the world. Humans are resilient. We will endure. But it will require our collective consciousness to succeed. Be good to one another, and be well.

Michael Wagner