ICO Updates, Bounty token distribution updates and Q&A
July 21, 2020
We will like to update everyone about our ICO progress. We will cover questions that a lot of you have been asking related to our ICO and the project.
How many tokens sold?
Unfortunately, we haven't sold any tokens including tokens allocated during our presale. We allocated a total of 200,000,000 MCV tokens for presale, people had an interest in buying our tokens, but this didn't result in any purchases. However, we have allocated 70,000,000 MCV tokens out of the 200,000,000 MCV for sale via 2key network platform.
which will come to end Oct 01, 2020. We have also allocated 200,000,000 MCV for our public sale which will come to end Oct 31, 2020.
What is your revenue model?
We have been getting a lot of questions about our revenue model. As part of our whitepaper, our source of revenue will come mainly from advertisement(including any sponsorship). We are currently reviewing fees on tipping which was part of our revenue model(we may decide not to charge fees for tipping as per few users feedback).
We understand how important for us to get listed on exchanges. Listing on most exchanges requires paying listing fees if we are unsuccessful in our ICO no doubt this will delay us getting listed on exchanges but eventually we will get listed. Once we have got updates around exchange listing, we will make an official announcement.
How is the project currently funded?
The founder is currently bootstrapping the project until such time the project can secure funding or start generating revenue.
We are planning to run IEO after ICO subjected to the amount raised during ICO. The number of tokens we are planning to allocate is 130,000,000 MCV (TBC)
Can the project run without ICO/external funding?
Just like every startup, we will keep running the project if we are unsuccessful in our fundraising.
How many tokens are for bounty campaign?
We initially allocated 19,500,000 MCV out of the community tokens allocation for bounty campaign phase 1 and 2 but, due to the total number of participants, the final amount to be distributed for all bounty hunter is 4,500,000 MCV.
We will provide another update via our blog after ICO. If you have any question or feedback, please email us.
Thank you all for taking the time to go through our updates. Please support us by contributing to our platform or subscribing to our Youtube channel or participating in our ICO. We appreciate all the support.