MobileCoin Distribution

Greetings all,

is there any information about the MobileCoin coin distribution out there? As a background:

This is based on the Stellar Protocol and everything is quasi pre-mined so all 250m tokens exist. 37.5m are in the hands of first investors if I get it right. One of the big problems Stellar and Ripple have is that they are sitting on a huge pile of coins that they do not know how to distribute, have no other course of action than to lock them up or otherwise make everyone sure that they will not dump bootloads of coins at will.

Uniswap made everyone happy by distributing 400 UNI to all people that worked with the system. You could distribute them for running validator nodes “for free” but I am not sure what that means tax wise for the foundation.

Any more information on the plan here would be good. e.g.

250m total

  • 37.5m investors (unlocking evenly over 5 years starting 2 years after mainnet launch)
  • 62.5m team (unlocking evenly over 5 years starting 2 years after mainnet launch)
  • 50m community developers (distributed over 10 years)
  • 50m community supporters
  • 50m coindrop for each active wallet… not sure how one would do that without allowing people to create a milllion wallets :slight_smile:

Estimated time to full distribution 8 years.

Just as an idea.

Thx. And back to github looking at code :slight_smile:

Oliver

How does the investing part work? And aren’t you worried about the sec closing this down if there’s a token sale involved?

There was a token sale to investors afaik. And the question is just how does it work going forward. If the Foundation has all the coins and can drop/sell at will, then this is unlikely to work. But maybe it does. I just think knowledge is good :slight_smile:

Howdy,

Total supply is 250M coins.

We’re still waiting on approval from our lawyers to discuss circulating supply. Presently non-Americans can sign up to buy coins from buymobilecoin.com but that process hasn’t started yet (still some payment processing details that need to get hammered out).

As soon as we get approval from our lawyers we’ll start making statements.

Cheers,
Joshua

On FTX, BigOne and Hotbit one could buy MOB’s ! In April 2018 Binance exchange, led a $30 million round denominated in bitcoin and ether for the new cryptocurrency. MobileCoin will enjoy “priority consideration” for being listed on Binance as part of the relationship.

As of today MOB’s are not listed on Binance Exchange. Why?

Mucos,

MobileCoin contributes to the development of the MobileCoin protocol and ecosystem. MobileCoin will provide technical assistance to anyone who wants to integrate our technology (as long as the use case is reasonable). We don’t have any control over who integrates MobileCoin because it’s open source software.

We currently have 0 active listing agreements with any exchange and we have never paid a listing fee for our asset.

This is all to say, MobileCoin is focused on technology. We want to make the best experience for payments in the world. If exchanges want to list us, so be it. We will keep making great tech with our community everyday.

Cheers,
Joshua

I fully value that Josh and it’s the right approach and one that makes this interesting. Still means you have all the coins. Without you, nobody can trade anything because nobody has coins :slight_smile: So that’s the question, how will the coins be distributed so they can be traded. This will be interesting. But I will wait on the lawyers to do their thing, fully understood.

I can assure you that our intention is to have a minority of all coins as quickly as possible. MobileCoin wants to get the coins into circulation as quickly as possible.

It’s important that we do it correctly. Thank you for your patience.

Cheers,
Joshua

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thx Josh. The answer is greatly appreciated, and I am looking forward to going in deeper.

Hi Josh,

Thank you for the swift answers, openness is always a nice-to-see.

I independently sent a similar question about current allocation, planned distribution of the outstanding tokens & a couple of extras to hello@… but have not received an answer yet – you are probably not the one monitoring that bucket but maybe you could ping them?

A formality in regard to the TechCrunch article – is it correct to correlate the ~$30M sale (37.5 coins) to Binance Labs with this SEC Form D listing? The valuation and dates seem to line up.

Your “intention is to have a minority of all coins as quickly as possible” – that would result in 3x more (37.5 vs. 250M/2) coins in circulation “as quickly as possible”. If Binance is the major holder of the existing ones (well, all “exist”, because Stellar protocol), I tend to think they have a motivation to list MC and sell, so I am keen to see what distribution model you choose to relatively fairly disperse the new emission. So yeah, we are all anxious to hear back from your lawyers :slight_smile:

Market evaluation aside, I really like the tech, from the availableinformation (and quality of the GitHub repo), it looks you guys have been cooking something rather private and unique. Pretty please, lest regulators or suboptimal distribution scheme spoil it! :sweat_smile:

Cheers!

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Howdy dactylion,

There are multiple factual inaccuracies in that article. As a privacy-protecting institution we don’t disclose who owns coins. We are excited to have Binance Labs as a partner. We can’t comment on exchange listing timing other than to say that MobileCoin doesn’t have any listing agreements at this time and we never pay for listings (this includes the exchanges that have already listed us).

We are currently working with our lawyers to determine when we can discuss circulation. We have lots of plans but it will ultimately come down to what the lawyers let us do.

RE: The tech, I think we’ve made something really special. It’s definitely one-of-a-kind in blockchain: fast (less than 1s transactions), privacy-protecting, very low energy consumption, and built from the ground up for mobile.

We continue to be excited about our regulatory partners and look forward to additional clarity in the space.

Cheers,
Joshua

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Good day! I realized that the number of coins is only 250 million. You do not disclose information about the distribution of them. Do you have information about capitalization? Is it possible to mine MOB coins and where can I read about it? Is there some kind of coin burning? Where can I read the white paper of your project?

Hi @19170282Fomin ,

We are still waiting or the MC Foundation to “sort out the legal background” (paraphrasing), so current circulating supply is unknown, as well as the future distribution scheme is still to be disclosed.

However, I can answer the rest: it is not possible to mine the coin, as it uses a modified Stellar protocol and all coins have been generated in the genesis block at launch (250M MOB). You can preview whitepaper here: GitHub - UkoeHB/Mechanics-of-MobileCoin: Technical exploration of the MobileCoin cryptocurrency.

Hope this gets you started :slight_smile: Cheers!

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