Roadmap Update
Q3 2020 and Beyond
2020 has been a chaotic year, world wide. Multichain Ventures has not been immune to the disruptive environment that presently exists. However, opportunity presents itself in even the most dire of scenarios. While communications have been limited over the past six months, being unencumbered by public relations has created a wealth of time to form new partnerships, create business, and reach a stage of development in which we can compete on the world stage. Although these relationships took time to cultivate, they are now at a point of maturity that makes logical sense for Multichain to re-approach our activities in the crypto ecosystem. Coupled with our assessment of positive market sentiment, I am pleased to announce the official close of our IEO period, and transition into public market launch. Important dates follow.
Balance Snapshot
Snapshot Date: August 14, 2020 midnight UTC
New Asset Distribution Date: August 15, 2020 midnight UTC
THE SNAPSHOT DATE IS CRITICAL TO OBSERVE FOR LEGACY TOKES HOLDERS. YOU MUST HOLD LEGACY TOKES IN EITHER THE MULTICHAIN VENTURES MOBILE WALLET (on android and iOS), OR A WAVES DESKTOP WALLET AT THE TIME OF SNAPSHOT TO RECEIVE THE NEW ASSET. TOKES ON EXCHANGES WILL BE LOST. NOTHING ELSE NEEDS TO BE PERFORMED TO RECEIVE YOUR DISTRIBUTION.
Edit: Assets held in the “Waves Exchange” wallet/application will receive the snapshot distribution. The exchange exclusion refers to centralized exchanges.
You will know if you possess legacy tokes by checking for the following asset ID in your wallet: BDMRyZsmDZpgKhdM7fUTknKcUbVVkDpMcqEj31PUzjMy
Following the snapshot, the new asset ID for tokes will be: ATrsNse6UZwNSMruNKsR4bnoTsp89BvLMmBZECRcPoif
Users will possess both legacy tokes and new tokes at the conclusion of the snapshot. However, legacy tokes will be discontinued across all merchant locations, within our payment software, and throughout the entirety of our network. It will have zero utility, and therefore, zero value following the distribution of the new asset. DO NOT PURCHASE LEGACY TOKES FOLLOWING THE SNAPSHOT DATE.
Legacy token holders will receive 25x the original value of tokes they possess, versus a 20x increase in total supply. For example, a wallet possessing 100 TKS at the time of the snapshot will receive 2500 TKS in the new asset.
Also of note, the asset MVTKS was previously sent out as a test transaction of our balance snapshot and distribution software. This asset has no value, and will not be utilized within our network for any reason. It was purely a test. We encountered zero errors in transaction broadcasts, and have confidence the new asset will be delivered without error.
Exchange Listings
Launch Date: August 17, 2020
Initial Exchanges
- Probit.com — to be accompanied by a trading competition
- P2PB2B.io
- Shortex.net
- Waves.Exchange
More to follow…
Bounty Distributions
Bounty distributions will take place in two separate periods:
Airdrop Alert Participants: August 24, 2020
T̵o̵k̵e̵n̵ ̵C̵h̵a̵l̵l̵e̵n̵g̵e̵ ̵P̵a̵r̵t̵i̵c̵i̵p̵a̵n̵t̵s̵:̵ ̵A̵u̵g̵u̵s̵t̵ ̵3̵1̵,̵ ̵2̵0̵2̵0̵
Note: at this time, it appears Crowd Network and the Token Challenge are out of business. They are unresponsive to our requests, and we do not have a list of participants.
Staking Protocol Activation
Staking Begins: September 14, 2020
TKS holders will be eligible to earn up to 50% additional tokes, based on wallet balance, over the period of two years. A detailed post related to the specific algorithm and mechanisms utilized to determine staking payouts will be released in the coming weeks.
Miscellaneous Updates and Partnerships
As a minor revision of our identity and product offering, updates to https://multichain.ventures will be released in the near future. Additionally, a series of posts and press releases related to a new product offering, software adoption, contracts, and placements will be coming out bi-weekly surrounding the launch on exchanges.
We have secured four sizable business relationships that incorporate our system architecture — payments, merchant kyc, custodianship of assets, asset collateralization protocols, and reporting tools — into innovative technology business models. These relationships provide recurring revenue to Multichain Ventures, will broaden our reach to both consumers and merchants, lead to an increase in adoption and utility of the tokes token, and improve visibility to the brand. Finally, we are eager to announce a governmental contract we secured for a similar instance of our architecture, providing a tremendous opportunity to demonstrate the utility of digital currencies in a public/private initiative.
Your dedicated support and patience are much appreciated by the team here at Multichain Ventures. We thank you for following us over the years, and look forward to what the future has in store.
Cheers,
Michael Wagner
