Re: [ANN][ICO] Meridian Ⓜ️ | DIGITAL COLLATERAL 🚀 47 BTC Raised!
Meridian Weekly Update #8
Charged with the task of building solid infrastructure around Meridian, we want to take this opportunity to bring our supporters, investors, partners and all other interested parties up to speed on the current state of affairs.
Within this article, we will be touching on the points that we feel are most significant and paramount to the overall success of Meridian as well as introducing those of you who are new to the project to the key ideologies that underpin both the Meridian Loans Platform (MLP) which is currently undergoing development, and our MDN tokens.
As part of this article, you will also find a recap of key events that have taken place so far you will also be presented with details of the key events that are due to occur in the future.
Important Statistics
During our initial crowdsale, 75 Million MDN tokens were made available for purchase.
As it stands today, there are approximately 360,000 MDN tokens being held by more than 200 individuals who are not official members of the Meridian team.
These individuals referenced above are mainly those who made purchases during our initial crowdsale.
Full distribution of tokens to our crowdsale participants was a process that we began on Tuesday, 28 November 2017.
Completion of distribution was achieved by Monday, 4 December 2017.
During this period, the total amount of MDN tokens in existence was 125 Million.
However - our pledge to crowdsale participants was that we would burn all MDN tokens that were left unsold during our ICO.
We kept our promise.
As a result, we deployed a brand new ERC20 contract on Friday, 12 January 2018 forcing a supply contraction from our initial 125 Million tokens, down to our current 51 Million MDN total supply.
Distribution of these brand new MDN tokens to Crowdsale participants began on Friday, 12 January 2018 and, ended on Monday, 29 January 2018.
As it stands today, vital statistics are as follows:
Total Supply: 51,000,000 MDN
In Circulation: 360,000 MDN (approx.)
Bounty Reserve: 1,000,000 MDN (to be distributed 7 days following exchange placement)
The implication of the above statistics is that once distribution is completed in full, the total amount of MDN tokens in circulation will have inflated to approximately 1,360,000 MDN held by approx. 700 individuals who are not members of the Meridian team.
The remaining sum (49,640,000 MDN) will be held in reserve by the Meridian team.
Please click the following link to see how the above reserves will be allotted: https://goo.gl/K3hxwT
Exchanges
As things stand currently, we are engaged in negotiation procedures relating specifically to the official opening of MDN/BTC trading pairs on suitable platforms.
Exchanges have a lot to offer this project we all have at least a ground level awareness of what some exchanges bring to the table. But, lets make no mistake - the Meridian team also has a lot to bring to the table.
There is a symbiotic relationship between an asset and its exchange.
Specifically, the amount of volume an asset is able to attract whether from its developers and/or from the public ultimately adds to the overall long-term profitability of its exchange.
There are some assets that do huge numbers during ICO stages, but then put on lacklustre performances once listed on a trading platform.
It all boils down to incentive.
Before anything, there are important questions that must be asked.
First what incentive does the everyday, typical crypto currency user have to purchase a particular asset?
Second what incentive do the developers of that particular asset have to ensure its long-term financial viability?
These questions must be asked because it is becoming increasingly apparent that most ICO developers are just that. ICO developers.
This forces yet another question relating to incentive.
What incentive do the developers of a digital asset have to ensure its long-term financial viability, when they have already raised $20 Million during Initial Coin Offering?
For most of these individuals this is job done. They have invested in and built an ICO, which has produced a return of tens of millions of dollars. Why then would they continue the toil of managing a digital asset thereby adding to the overall revenue of an exchange?
Again, there is a difference between ICO developers and Altcoin developers.
The main difference is one that relates specifically to time-span.
An ICO developer is not looking long into the future with any form of optimism for him, he wants to be in and out of the ICO market while the cake is still warm.
Nobody plans to go into a market that has become saturated to the point where it is impossible to achieve even a 1:1 return on investment. Therefore there is an urgency among ICO developers to strike while the proverbial iron is still hot.
All of which has no bearing on the long-term financial viability of the asset (not ICO) which they are bringing to the table.
Meridian is an asset that is tailored to reach long into the future. If you havent already, then you are urged to read our whitepaper: https://goo.gl/8LTJDH
Through the Meridian Loans Platform (MLP), there is a form of incentive that will forever be embedded into MDN tokens specifically, users of MLP will not be able to derive any benefit from the platform without first being in possession of an MDN balance, which must be purchased from an exchange.
Through MLP, users will be able to obtain a secured micro-loan (Bitcoin denominated) and each of these loans are to be secured with a specific amount of MDN tokens pledged as collateral, to be released back to the user once his full loan repayment has been confirmed.
It is a self-feeding, self-perpetuating system with in-built, long-term financial viability and this forms the foundation of the Meridian proposal.
In short, the service that we are pledging is one that is in 'enormously high demand.
Whether it is an already established platform, or one that we are forced to establish on our own it is clear how the exchange that we eventually end up building a partnership with will ultimately derive long-term benefit from our relationship.
We will continue to liaise with, wait on and negotiate with the exchanges until we decide to explore the other options that are available to us.
So we urge our supporters and investors to continue on this journey with us, as there will be huge rewards for those who are prepared to stay the course.
More Information
To learn how Meridian differs from the alternatives, you are invited to watch our three-minute Introduction film at https://goo.gl/VmTBbM
Learn more about Meridian at https://myMDN.io
Access Meridian Whitepaper at https://goo.gl/jqE7Me
Follow Meridian on Twitter at https://twitter.com/MeridianMDN
