I would very much like to receive an answer from the team, not how, but WHY left 51 million tokens, and how they will be distributed.
Thanks,
Your logical approach is appreciated. The reasons that you have given for your inquiry are understandable.
As it happens, answers to this question were provided approximately one month
prior to our sale.
See the link below.
Supply DistributionOur initial total supply was 125 Million, with 75 Million being offered for sale during our ICO.
Due to us only selling approx. 360,000 MDN tokens - our pledge was to burn all of the tokens that were left unsold.
Subsequently, we issued a brand new token contract with 74,640,000 less tokens - and a new total supply of 51 Million.
To see how the supply will be used and distributed read
the supply distribution article linked aboveThe Meridian TeamI'm glad that you answered so quickly. I already read this article earlier. Now I have read it again, and I have even more questions.
Let's think logically:
The total amount collected on ICO means - 47.281604 BTC, which is equivalent to 385,136.80 USD
Basically, investors bought tokens in the first days of the ICO to get the maximum bonus, but without taking into account bonuses, the approximate number of MDNs purchased is 236408.02. As far as I remember, the initial number of bonuses was 20%, and eventually decreased. Let's assume a small error - just take the maximum number of bonus tokens 236408.02 * 20% = 47281.604 MDN (9.4563208 BTC). Accordingly, the maximum total number of coins sold on the ICO including bonuses = 283689,624 MDN token.
For the convenience of calculations, we can round up the number to 285,000 MDN.
According to your data, 75,000,000 MDNs were allocated to the ICO, 285,000 MDNs were sold out of them, respectively, all other tokens (an approximate amount of 74,715,000 MDN) should be burned.
Well, we sorted it out. In addition, there is an advertising bounty campaign, with a pre-reserved number of coins in the amount of 1,000,000 MDN.
It turns out that the total number of coins divided between all participants of the campaign bounty and 251 investors - 1 285 000 MDN.
Now we pass to the most important thing. The article you showed us all says that:
Allocated to the Meridian team: 15,000,000 MDN (3000 BTC)
I will not talk about the moral and ethical side, but it does not seem strange to you that you leave for your team about 63 times more than you could collect at your ICO?
Advisors & Partners: 6,000,000 MDN (1,200 BTC)
During the early stages of launching Meridian related services; assistance and advice will be sought from third parties such as engineers, accountants and lawyers in relevant jurisdictions. For continued guidance and support from third party contributors 6,000,000 MDN is reserved.
Really? I certainly assume that the advice of lawyers and experienced engineers and consultants is quite expensive. But 6 million MDN = 1200 BTC, which is about $ 12 million at the current exchange rate. Many projects, and you including so many have not collected such a huge amount on your ICO, but do you allocate it for consultations?
Early Participants: 9,000,000 MDN (1800 BTC) -
Bonuses are to be offered during the Meridian ICO. To cover this; 9,000,000 MDN has been reserved. All participants in the bounty campaigns and ICO are able to redeem their tokens by registering on our main website; ico.mymdn.io
Quite right, the tokens are allocated for bonuses, but as I already calculated, about 47281,604 MDN (9,4563208 BTC) were spent from them, but not 9 million. And what about the rest of the coins, why are they not burned as well?
Is this such a joke?
But this is quite interesting:
Bounties & Rewards: 20,000,000 MDN
For the continued support of Meridian, additional rewards and bounties will be on offer once the ICO closes. Participants will be paid from this fund. Initial campaigns such as signature and social media bounties will be extended indefinitely to maintain overall awareness for Meridian services.
What? Guys, you have a good reward of 1 million MDN for the ICO boutny campaign, but WHAT ARE 20 MILLION? What is the bounty after the end of the ICO, which was over 3 months ago?
So, what do you end up with?
1 285 000 MDN (257 BTC equivalent) - to the investors and bounty hunters
15 000 000 MDN (3000 BTC) - which the team left for personal use for some reason
20 000 000 MDN (4000 BTC) - awards for the community after the end of the ICO? Well yes.
6 000 000 MDN (1200 BTC) - for consultations with lawyers. Well yes.
9 000 000 MDN (1800 BTC) - for bonuses, of which a maximum of 10 BTC is spent.
The result is 51 285 000 MDN - the total. It is interesting, is not it? Although the guys decided to make their smart contract for MDN 51 000 000, it seems that they would not bother with the calculations themselves.
Now we can all draw our conclusions, gentlemen.
Why are not all the remaining coins allocated for bonuses burned for rewards and other useless delusions? Why were the tokens intended for the team not reduced in proportion to the results of ICO?
I assume that if these tokens are not burned, then they remain in the use of the command.
There is something to think about, guys, before you blindly believe and praise the Meridian team, which I can write about even more than I have just described to you. Most likely, I'll have to tell you about what I found out for all this time. But this is later, if the situation with tokens distribution will not solved. I hope for a detailed and professional response from the team of Meridian.
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