Changes to Active Token Supply

IMPORTANT UPDATE

Notice is given to token holders that team has made the decision to alter the active supply of tokens to address certain legacy problems in our tokenomy.

Wallet #1:

Address: 0x11582b40e2a8ab5ac53bc88bddb925d0909cc332
MNL: 7,746,654.5927

This wallet holds tokens that were initially part of a share/token swap conducted in 2018.

Decision: The team and CEO relinquish all rights to these tokens and the benefit thereto.

The tokens in this wallet may be sold at a future date to increase the capital of the business, or be used for market making and liquidity purposes. In the event that a use or sale of these tokens is required, a special notice will be published.

These tokens will be removed from active circulation and will continue to be held in wallet #1, but they will no longer be eligible for dividends or voting rights.

Team Benefit Wallet:

Address: 0x9D68a879B16f20A9559D29F92406071Fd57251e8
MNL: 2,800,000

This wallet holds tokens that were set aside for the team as originally envisioned in the whitepaper. The tokens were to be allocated to the team based on a bonus and incentive scheme, and to be controlled by the CEO.

The team recently conducted an end-to-end system test on a mock-incentive payout. The results were not desirable.

Decision: These tokens will be transferred to Wallet #1 and the team token incentive scheme will be put on hold indefinitely.

These tokens will additionally be removed from active circulation and will not accrue dividends or voting rights.

Future incentives and bonuses will instead be settled in USDT or EUR

Developers & Advisors:

Address: 0x2373074033A923624C3028Bc053d28ce0BBea8Fe
MNL: 1,000,000

This wallet holds tokens that were set aside for developers, advisors, and other fees payable in MNL (like part of an exchange listing fee) as originally envisioned in the whitepaper.

Based on a recently conducted an end-to-end system test on a mock-incentive payout, we will treat these tokens in the same manner as the team bonus tokens.

Decision: These tokens will be transferred to Wallet #1 and the proposed use of these tokens will be scrapped.

These tokens will additionally be removed from active circulation and will not accrue dividends or voting rights.

Conclusion & End Result:

  1. The stated total circulation as seen on the website and token tracker will remain at 36,012,813.860243 MNL since wallet #1 tokens will not be burned
  2. The active circulation is confirmed to be 24,466,159.267543 MNL
  3. The active circulation amount will be used in the calculation of first quarter (Q1 2020) dividends thereby providing an estimated 32% increase in regular token holder benefit from dividends.
  4. The active circulation of 24.66m MNL will be used in all future voting and dividend calculations. Should tokens from wallet #1 be re-sold or re-allocated in future, they will be added to the active circulation once a special notice has been published.