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Check the past news about MVL and

keep up to date with us!


Notice on Delay of Wallet Launch

5 Jan 2022

Dear Community,

We sincerely apologize for not quickly delivering our position on Wallet due to the prolonged internal discussion. However, the internal policy has recently been finalized, and we would like to share it with the community today.

The exact reasons and conclusions for the delay and the compensation strategy are provided below.


[Reasons of the delay]


The MVL team has been preparing to move into BEP-20 (Binance Smart Chain) MVL chains for a long time. Eventually, we planned and developed to implement multiple MVL Dapps on the Binance Smart Chain. As a result, we do not aim to be locked up as a member of the Ethereum ecosystem, and aim to establish our project in the global market.


As we previously mentioned, the Wallet was scheduled to include the deposit and withdrawal function of simple ERC-20 MVL as an open spec and then add the function to freely swap and store BEP-20 MVL and ERC-20 MVL in the second update. The open spec completed implementation and was prepared for release. However, considering the request from the partner companies, it was recently decided to include the BEP-20 MVL swap function in the Wallet's open spec.


That is why we delayed the official launch even though the development was complete. So we would like to express our deepest apologies to community members who have been waiting for such a long time in this harsh crypto market situation.


[Conclusion]


1. First, we will pre-release the "MVL Bridge Website" (https://mvlbridge.io/), which allows you to transfer assets between chains with BEP-20 MVL. For details, please refer to the related notice.


User guide: https://ewhk4.app.goo.gl/rgFN


2. The development is currently underway to ensure that the MVL Bridge website function is implemented in the wallet app. Therefore, in the Wallet's open spec, the function to freely swap between BEP-20 MVL and ERC-20 MVL will also be included, rather than just implementing simple deposit/withdrawal functions as initially planned.


3. As the functions increase, detailed implementation, test, and security audits will also be added. The expected completion of the development is in February, and the actual release will include internal testing and private testing after the development is completed. Please note that we are planning to release an utterly functional wallet from the beginning. Since the Wallet is an app in which security issues are significant, the internal development team is also working hard to prevent any usage accidents from occurring.


4. The usage of BEP-20 MVL has been decided quite a lot and will be processed with various partners, so please refer to it.



[Compensation]


For those waiting for the launch of the wallet app for a long time, we will airdrop an additional 5% of the MVL deposited in the Wallet after it launches.

We will airdrop the MVL proportional to the quantity of all those who have deposited the ‘minimum' of 30,000 MVL or more on the specified date. In addition, there will be no limits on ‘maximum deposit,' ‘airdrop limit,' and ‘compensation limit.'


EX 1) If you deposit 30,000 MVL, 1,500 MVL will be airdrop to your wallet account.

EX 2) If you deposit 100million MVL, 5,000,000 MVL will be airdrop to your wallet account.


The airdrop date will be announced to the community upon its launch.


Thank you.


Trust-driven, 

MVL

40 Sin Ming Ln, Singapore 573958

ⓒ MVL Foundation Pte. Ltd. All rights reserved.

40 Sin Ming Ln, Singapore 573958

ⓒ MVL Foundation Pte. Ltd. All rights reserved.