Good day Monster Byte supporters!
We are writing to you today to update you on some of the strategic initiatives under our consideration as they relate to long-term positioning of the Monster Byte (MBI) token.
First, we firmly believe all the work that we’ve done over the past year warrants much better exposure and liquidity than what MBI has received on the Waves decentralized exchange (DEX).
It’s important to note that there is a Waves marketing team whose charter is to assist Waves-tokens post-ICO with getting better exposure, marketing, and press coverage. We’ve been in regular contact with this team for the past quarter precisely to achieve these objectives but unfortunately, we feel that we are not receiving the proper coverage a valid business like Monster Byte deserves.
In addition, it’s also been challenging for us to get our token listed onto other exchanges as Waves-based tokens aren’t widely accepted.
At the same time, we’ve recently been approached by a Top 50 exchange that is eager to list Monster Byte; however, in order to do so, we’d have to migrate from the Waves platform to the Ethereum platform and convert all tokens held over to ERC20 tokens. If we did pursue this conversion, it would be at a 1:1 swap, meaning there would be no dilution to current token holders.
Apart from the improved liquidity we expect from this listing, ERC20 tokens are more widely recognized, and there is a growing demand for ERC20 token support at many top exchanges, both centralized and decentralized. A switch for MBI in this direction could allow for many more listing opportunities and, therefore, better liquidity. Ethereum’s rising popularity is also demonstrative of its maturity as a blockchain network – something perhaps Waves may need more time to achieve.
Before we make any changes, we’d like to gauge the community’s response – so we please ask you to answer this short survey so we can ensure any decision we make is aligned with the aspirations of our token holders.
Please click here to participate in the survey.Thank you for your support!
