Good day everybody,
We are super sorry for the ridiculous wait for any replies from us.
Not to be on the hunt for excuses, but there have been many changes in our company, one of which is the people who managed the community during the ICO. Today it is different people, and different responsibilities. This bitcoin talk post kind of washed away throughout all the changes, and it only became apparent recently that there were still comments and questions - we are really sorry for this wait, and for the way this makes us look.
It has been a rather busy year, since we changed the plan a little due to restrictions in locations, newer equipment, BTC prices and more. Here are some key points:
1) Today, we are operational with our first phase of miners having been online since November 2019. We are in progress with the order for the second phase of equipment that will take us up to our 11MW initial target.
2) We are currently updating the web site to include a separate ICO section, that will include a live dashboard, figures, and some other cool items which we are yet to announce.
3) We produced an inaugural report earlier this year, which covers all the important info from the start of our ICO to the date at which the report was published. It can be seen here:
https://www.moonlite.io/inaugural-report4) We have published our first quarter financial/mining results, which can be seen here:
https://www.moonlite.io/results-q1-20 5) There have been some changes to the token economy, which are also detailed in the updates section of our site.
6) It is important to note that our original whitepaper and plan is materially unchanged. we are still rolling out in the way in which we planned, be it with some changes to the team and some minor other adjustments.
Now that we are a running business, there are still some issues to deal with. this is our plan:
1) Marketing - we will be working on releasing new marketing (this has started already) and a renewed social media presence - in order to boost interest and traffic
2) We are working with some better exchanges that offers more visibility, presence, and volume. combined with marketing and payouts, we expect to see tokens increasing in price.
The other big issue for us is the bounty and bounter payments :
***BTC payments to signature campaign members were made by Atriz at some time shortly after ICO. this has been confirmed by some members previously***
1) As we elaborated on previously, and in the bounty post, we had some issues with the bounty manager. We used Atriz and he was outsourced - not part of our team, we found him through recommendations on this site
2) Our ICO ended in March/April 2018, and the tokens for the bounters were sent to Atriz (outsourced bounty manager) within approximately 2 weeks of our ICO ending.
we shared the link to etherscan, where it can be seen that 1,000,000 MNL were sent to atriz at the requested address (also shared) - from this time, we never saw any action on his part. it seemed that he was taking an awful long time to compile the distribution lists
3) When we checked again, approximately 300,000 tokens were sold on the exchange.
4) after some time and much fighting, atriz returned 700,000 tokens (+-) back to the team.
5) at this point, someone from our team worked with some people from the bounty/sig campaign thread to finish the distribution lists. with their help, our team managed to sort that out.
6) Our team then found what we thought was a reputable engineer to assist us with the token distribution for a second time. Except this time, we insisted that they did the distribution in batches and that we never send them more than 100,000 MNL at one time, in order to minimise losses if something similar happens again.
7) After some time, a distribution took place, and we got feedback that there was some fundamental issue with our smart contract that prevented a token airdrop. the failed transactions produced something like 0.00000000000000009 MNL to be sent to everybody.
again, this feedback and the transaction hash (tx) was shared on the bounty thread. 8.) we later found out that this was nonsense, and that the 100,000 - (less some fraction of 1 MNL) were also sold on the exchange and the person deleted their telegram profile.
It can be seen in our inaugural report that we included this issue of bounty payments. we reported the problem ourselves instead of hiding it or trying to ghost everybody. It can also be seen in the report that our team actually contributed the balance of the tokens required to honour payments, and these tokens have been safely stored in a special wallet., from there they can be distributed or where they can earn dividends (eth) which can then be easily distributed.
There are some new services around, that enable web based mass erc-20 token payments. we are exploring these options to allow us to finally distribute these tokens.
Unfortunately, we are in fact sitting with this issue of non-payment for our bounters - THIS WAS NOT INTENDED, AND NOT BY DESIGN - and we are trying our best to find an actionable solution. All the related info has been posted some time ago (when the previous team member was online last) in the bounty thread.
As for our business, we are doing great:
The MoonLite Project has achieved a first quarter Revenue of USD 781,736.01 with EBITDA standing at USD 205,013.53 or 24.88% after mining a total of 93.46 BTC.
The total accumulated Token-Holder Benefit (Dividends) at 31 March 2020 stands at USD 91,705.20 and is reserved for distribution in accordance with our Return on Capital Investment (ROI) Policy.
This amount constitutes around 39,98% of total dividends paid and/or attributable to token holders of tokenised mining companies, Globally, Combined!
Another fun fact, MoonLite has as of end March 2020, generated more than 72% of the global mining revenue from tokenized mining companies, after just 4 months.
We have maintained out TG Channel here:
https://t.me/mnlupdatesIn this post, we pledge to maintain this thread once again, and we will reply to any constructive questions or info requests timeously (maybe not within 5 mins, but there will be a reply) - We have been FUD attacked throughout mid-2018 to mid-2019 and won't be replying to any sort of FUD or smear campaign messages.
We thank you for your support and hopefully we can renew some interest in our business here. We have made many great moves in our business, and produced a lot of positivity amongst our nearly 1000 token holders. we hope we can generate the same support and interest in here too, although it has been a really long time since replying to posts. We are of course not without our fair amount of skirmishes, failures, and problems, but we are still here and working harder than ever towards success!
We hope to hereby start a new chapter in this thread, where we can engage and create some positivity around our great company. We thank you In advance for your positive comments.
Team
