The third HODL Program reward has been released. Be sure to claim!
This HODL reward will include all of the HODL Program funds and a significant portion of the unclaimed airdrop.
Registered Class 1 MWC Hodlers can claim and receive 0.175 MWC per MWC registered.
Registered Class 2 MWC Hodlers can claim and receive 0.175 MWC per MWC registered.
Note: You will see these amounts as two separate claims in your wallet.
The HODL rewards go to all Class 1 or Class 2 outputs that were registered at the time of the output scan which completed at 2020-06-01 16:35:12.0. UTC.
Finalizations will occur at around block 293,000 and must be submitted by block 333,000 (approximately June 30, 2020). There may be additional finalizations in between. Any funds not claimed after the last finalization will be returned to the unclaimed airdrop fund.
As a reminder MWC Qt Wallet 1.0.17+ is needed to claim rewards. It is recommended that you use MWC Qt Wallet 1.0.19 though because that version has a bug fix for a bug that can occur if multiple rewards are claimed at the same time.
Instructions on how to claim can be found here.
Part One of the MWC history includes several chapters like the announcement of the coin, airdrop registration and distribution, initial trading, the hard fork that contained the proof-of-work and emission rate changes and the distribution of the initial stock.
The complete distribution of the HODL program will be the end of another chapter in Part One.
In Part One, there is probably only one more chapter to complete which will include the complete distribution of the unclaimed airdrop funds and the August 2020 emission rate change.
We hope you stay a very strong MWC holder and continue this exciting adventure with the MWC Team onward and upward to Part Two!
When the MWC mainnet launched on November 11, 2019 there was significant uncertainty and the MWC market cap was less than $2m or 3,510 satoshis per MWC. The airdrop recipients from the thousands of registered Bitcoin addresses who have continued to hold or even recklessly buy have had an exciting and wild ride!
In six short months the market has increasingly valued MWC with a consistent price lately above 200,000 satoshis or $150m+ market capitalization. For comparison, that is about 3.35x the market capitalization of GRIN ($23m) and BEAM ($26m) combined.
Therefore, by economic mass MWC is, easily, the dominant Mimblewimble base layer coin, the #3 privacy coin behind Monero ($1.2B) and Zcash ($490m) and the #13 proof of work coin behind Decred ($172m) and Bitcoin Gold ($160m). Plus, the MWC Hodlers seem to be some of the strongest in the industry. This may result in very interesting future price discovery!
A great thing about cryptocurrency is their liquid nature. There is a willful buyer for every willful seller. No one forces anyone to either buy or sell. That is a choice each makes based on their own subjective valuation of the goods in question. Therefore, the hodler composition is able to change through this market process and price discovery.
Over the last few months, the MWC Team has been approached by many MWC sellers who have expressed regret and want to know how they might be able to re-acquire the position they sold. The answer is pretty simple: Buy it!
The Team is empathic towards those who willfully sold around 5,000 satoshis and may want to reestablish their position at 200,000 satoshis. But, after all, everyone who received free MWC also willfully chose to sell it. Price discovery was and is at work. And it is one thing to talk about being a Hodler but a completely different thing to actually do it!
And the same goes for anyone else. There is a wonderful aspect of human psychology that accrues to the benefit of buyers and hodlers of a coin that starts with a very low market capitalization like both MWC and Bitcoin did. Just like with Bitcoin, people may feel the pangs of regret from either not buying any or having sold their position. And the higher the price goes the stronger those pangs get. The MWC Team is hodling strong and we really hope any sellers enjoy their pizza!
As Satoshi Nakamoto said in January 2009, "It might make sense just to get some in case it catches on. If enough people think the same way, that becomes a self fulfilling prophecy."
And if they decide they want to be buyers then they will see there is already serious competition in the market for the extremely scarce ghost money. Based on various analytics, there are thousands of new people who are learning about MWC for the first time everyday. There are long-time MWC hodlers who are buying and, of course, the Team has been and are net buyers of MWC and are completely uninterested in selling at current prices. After all, we eat our own dogfood; that is why we made it and will continue to improve it.
The April hard fork and emission rate change went flawlessly, the market absorbed the May post-HODL overhang very quickly and the network has maintained significant security metrics with no signs of malicious mining attacks.
There has also been significant increased interest in MWC evidenced by website visits, email list signups, additional exchange listings and volumes and, of course, price.
Many very significant players in the crypto-industry such as miners, investors, etc. have approached the Team with a lot of interest for the project and, predictability, they have all had very important questions about the HODL program and its distribution schedule. By fully distributing the HODL Program and a significant portion of the unclaimed airdrop fund their questions are swiftly and extremely efficiently answered in a way that leaves no ambiguity around the topic. No more HODL program; no more questions about it.
Based on the previous HODL reward claim rates the Team estimates that after the close of HODL Claim #3 there will be less than 200,000 MWC in the unclaimed airdrop fund, a Circulating Supply of about 10.3m and a Total Supply of about 10.5m. The daily emission rate is 864 MWC, in August 2020 it will be reduced 648 and in October 2020 it will be reduced again to 432.
This means that almost the entire initial stock of MWC will have been distributed and MWC will begin to rapidly harden. It soon will have a stock-to-flow ratio higher than Bitcoin and significantly better fungibility properties. The monetary product of extremely scarce ghost money is being realized!
All of this execution is being delivered ahead of schedule and with a higher market capitalization than was initially expected. Although MWC’s brand recognition is still very low, nevertheless, it seems to have significant traction in the market and is easily, by market capitalization, the dominant Mimblewimble base layer coin.
The MWC Team is moving development forward at a rapid pace and the Team is excited to remove distractions, like the HODL Program, by fully distributing the MWC and concluding the HODL Program.
During June there are some node and wallet releases planned with significant TOR integration. Additionally, development of the mobile wallet and atomic swaps is moving ahead quickly.
We hope all you MWC Hodlers continue with us into the final chapter of Part One and the march boldly into Part Two. We understand that Part One had significant turbulence and really tested the mettle and conviction of many. Many left us, including a team member, by willfully selling and others joined us, including new team members, by willfully buying. The market and price discovery at work.
We expect that Part Two of this saga is going to be a whole lot more fun and exciting than Part One. Over the last few months, the Team has been bringing on additional developers and they are now functioning very well and getting serious amounts of heavy lifting and other work done.
The mission of the MWC Team is to match and exceed every other good in the market with regard to good monetary characteristics in order to produce a good that is the superior qualitative money.
While the world may be in commotion the MWC team is in forward motion like never before executing with rapid speed on that mandate to bring to market the best monetary product for people who want to hire a monetary good to accomplish the purpose or aim of monetary sovereignty.