Musiconomi Status Update
A big hello to all our supporters and community!
First off we wanted to say thank you for being part of our growth and for believing in our team and ideas. We really do appreciate having each and every one of you help build this platform, whether it was through your support in the crowdsale, or by sharing your thoughts and giving constructive feedback to make Musiconomi better.
Company Funds Status
As everyone is well aware we were caught up along with several other projects in the multi-signature hack. This has locked most of the Ether contributed during the crowdsale.
Since the hack occurred we have maintained our focus on building the platform with the resources we had, while also securing bridge funding that would allow us to continue to build the platform on all fronts.
The multi-signature wallet issue did cause a small delay but has not stopped development in any way. We still have been actively engaged in building strategic partnerships and working on the technical aspects of the platform functionality.
We do hold out hope that with the next hard fork that will occur in 2018 the remainder of the funds will be accessible. The tokens that were not sold as part of the crowdsale were also locked up and this is easily mitigated by creating a snapshot of current balances and airdropping an equal amount of a replacement tokens to all users. However, there is no reason to rush to do this, so we will take some time to understand the solutions proposed by Parity and others before starting that process. In the event that we do migrate to a new token, we will communicate the timeline in advance and coordinate with exchanges and other sites.
The key message that we want to deliver is that regardless of the current status of funds, we are continuing to build and make progress. We are very clear and focused on our mission and we have sufficient resources to continue at this time.
We are in this for the long haul. We have always know full well that sudden twists and turns in the crypto universe are common, and that planning for smooth, linear progression is simply wishful thinking. For that reason, we have planned very conservatively, and we have created a strong team surrounded by capable and experienced advisors.
We thank you for your continued support, and we encourage you to join our Telegram channel to participate in project discussion.
The Musiconomi Team
We would like to hear any feedback from artists, labels, music enthusiasts, and any other people or organizations that have a role to play in the music economy. We encourage you to join our slack and participate in the discussion.
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