Greetings MVG Network Token holders!
It has been an exciting quarter with plenty of progressions in many aspects of the MVG Network project, which we have been looking forward to sharing with our community! In this quarterly review (Q3 2019), we will be covering project-wide MVG Network updates and a quarter progress review of the MVG Network Token. A separate article will be published in the near future to reveal new information and the latest development information for ITO V3.0 – Invictus.
Let’s start with the project-wide MVG Network updates!
We are pleased to officially and finally announce the new development and network information homes, located at MVG.Dev and MVG.Network respectively. These new informative developments allow existing and future network members to easily gain fluent understanding of the network’s short-term initiatives. The MVG Network would like to send a thank you to Rich C. for his content contributions to both of our new project websites!
MVGToken.io will be transformed into a real-time interactive dashboard for users to easily acquire token economy information for the MVG Network Token. Until this new token home is released, tokenomic information can be easily found at: https://mvg.dev/#tokenomics.
As members of our Telegram community may have been noticing, we have been making efforts to expand the reach of our project by opening new communication channels for native languages other than English. During Q3, we have set up telegram discussion rooms for members native to Brazil, China, Germany, Italy, Japan, and Russia.
The MVG Network would like to thank the following community participants who have been actively translating our pinned message updates for their communities:
Would you like to translate for a new native language community? Let one of our team members know! A list of team member contacts can be found in the pinned messages in our telegram communities.
In preparation for continued network community and token foundation building, the MVG Network has finalised the permanent news structure for all MVG Network related updates:
Steemit and Reddit - Quarterly updates
Telegram and Discord - Frequent general updates
Facebook and Instagram - Project and token notifications
We recommend users be subscribed to our Telegram news and channel alongside Reddit or Steemit to remain up-to-date with all MVG Network updates.
Informative Extra
The current core team leading the MVG Network’s current developments are some of the first members of the decentralised MVG network. No one controls the MVG Network, though there are groups who manage its direction. Members who manage the project’s direction wield as much power as the community allows them to have. In these initial phases of the project, management by the original few is needed to ensure the project remains moving in the direction that is in the best interest of all holders and to create a framework for a larger (decentralised) consensus group which will eventually take control. For now, the MVG Network leading team and network members are fully committed to continue to lay the correct foundations for the MVG Network’s current and future members with the aim of achieving seamless autonomy and decentralisation growth over time.
MVG Network Token Progress Review
We have had an exciting October so far, launching many new innovations in our current endeavour to solidify the ground-level foundations of the MVG Network Token. These fantastic leaps forward have been listed and detailed below.
Prior to the release of MVG Network’s third Incentivised Token Offering (ITO v3.0 - Invictus), the Max [MVG] Smart Contract will undergo a blockchain snapshot (a copy of the existing chain) and automatically merge to the final MVG Network Token Smart Contract.
Redeployment allows us to pursue the following developments:
⁃ Time-locked supplies to replace existing locked supply mechanism.
⁃ Updated smart contract code prior to smart contract code audit
⁃ Necessary smart contract brand update from “Max” to “MVG Network Token”
⁃ Readjustment of supply ratio (10:1)
What do these developments mean for the community?
⁃ Time-locked supplies allow anyone to easily verify that the locked token reserves, such as the locked team supply (until 2022) or the ITO v5.0 supply (until 2021) are not able to be accessed until the proposed date.
⁃ Updating the smart contract code to latest code compliance standards is necessary to ensure the most secure experience for our ecosystem. Once this development is complete, a code security audit will be performed by a third party to officially verify the security of the MVG Network Token.
⁃ Due to our relocation to our new Network and Development homes, new coin indexes, and for the future general understandability of our project the smart contract will be renamed from “Max” to “MVG Network Token.”
⁃ The MVG Network supply will increase from 369,000,000 to 3,690,000,000 in order to compensate for a growing holding base and our new distribution strategy, which includes a range of airdrops, bounty campaigns, and competitions. If a user holds 1,000 Max [MVG] in the old contract, they will then hold 10,000 MVG Network Tokens [MVG] following the completion of the contract update.
The team would like to reassure all holders that no action is required in order to claim your MVG Network Tokens during the swap. If you hold in a wallet such as Trust Wallet or MetaMask, you may need to add the new contract code to see your new tokens. If you hold in an exchange, such as Crex24, CoinLim, or EtherFlyer, you will not need to do anything. These exchanges will update the contract code globally.
Most notably, the MVG Network Token supply has recently been recognised on CoinGecko, officially ranking the MVG Network in the top 21% of all cryptocurrencies listed on CoinGecko; ranking #1111 among 5858 Cryptocurrencies. Alongside our recognition on CoinGecko, the MVG Network Token has been awarded an untracked listing by CoinMarketCap, the most popular coin index in the cryptocurrency space.
New indexes include:
CoinCodex
Coinstats
Delta.app
ATHCoinIndex
GlobalCoinListing
In order to qualify for a tracked listing on CoinMarketCap, our markets must have at least $1,000 worth of material daily trading volume. The team will be pursuing efforts to organically achieve this requirement over the coming quarter.
During Q3, the MVG Network Token has been added to the Etherfyler, SwitchDex, McafeeDex, and TradingPoint exchange avenues. As of this review’s publishing, the MVG Network Token has eight open markets.
New Markets:
Mcafee Dex – MVG/ETH
SwitchDex – MVG/ETH
Etherflyer – MVG/ETH
TradingPoint – Multiple Pairs, Telegram Bot
Existing Markets:
CoinLim – MVG/BTC
Crex24 – MVG/BTC
Crex24 - MVG/USD
Crex24 - MVG/ETH
Liquidity across all exchanges will be a major focus for the MVG Network Token during the final quarter of 2019.
After long, ongoing discussions with MCRYPTO and objectivemoon, two of the MVG Network’s top contributors, the project has successfully on-boarded the “vbolt” Decentralized Exchange concept. The MVG Network has successfully dissolved the “Velox Token” into MVG’s supply by using MVG Network Token contributions from donvestor, MCRYPTO, and objectivemoon to distribute a total of 7,698,506 MVG between approximately 300 new holders!
As thanks from the MVG Network, these contributing members have been invited to become official MVG Network Members with the ability to participate in project direction voting and planning sessions. Welcome aboard MCRYPTO, objectivemoon, and donvestor.
Information about the vBolt DEX concept will be included in the MVG Network whitepaper, which will be released during Q4 of 2019.
The MVG Network and MUXE Project teams have collaborated to implement the CCSTipandTrade bot. This bot allows users to store MVG, tip MVG to other users in our telegram chat, and trade the token in the CCS trading group, Trading Point. Along with this partnership, the MUXE team have taken the liberty to list MVG on SwitchDEX and McafeeDEX, links to these new markets can be found in the "New markets open for the MVG Network Token" section of this article.
The MVG Network would like to thank Jaime, Tony, and MCRYPTO for organising the cooperation.
We greatly encourage feedback for about our network & token, we are awarding up to 100 MVG for most useful questions in the comments on Reddit, Steemit & Telegram! Simply comment your feedback followed by your ETH address to qualify.