Launch dates, Exchanges, and Atomic Swaps

Chris Dev

September 17, 2019

I Wanted to give an update to our progress on development and other matters. Development efforts for MWC are going well. There are no show-stoppers and as Andy mentioned in his latest article, we anticipate launching on the tentative dates we mentioned a few weeks back. As with all software development, we never know if a bug will come up that pushes things back, but as of now our testing is going very well and we are on track and those dates look good. We will always do the best to balance time to market, quality, and features.

One of the big questions that we frequently get is: when will MWC be listed on an exchange? The answer to that question is that it will be listed on exchanges shortly after our launch. I know there's a lot of anxiety about this question and I think it's really unnecessary. Getting listed on exchanges is a matter of paying listing fees and supporting the exchanges with technical questions. We can easily fund many exchange listings on day one from both internal and external sources, but the question is a question of allocation of capital. There is no doubt that being listed on at least one quality exchange (and probably a few) shortly after launch is necessary for price discovery purposes, but we don't need to over do it. It's better to conserve capital for future development efforts.

If we are right about the market, it is highly likely that MWC will be listed on all exchanges at some point because until Bitcoin is set on a clear path to implement Mimblewimble in the base layer, it is likely that Mimblewimble based coins will outperform Bitcoin over time. Right now, there's no sign that Bitcoin is likely to incorporate Mimblewimble any time soon. In that scenario, we can focus on development efforts instead of spending on exchange fees and significantly speed things up. Exchanges will follow the money and if MWC does well surely all will want to list.

Another question that comes up is the Coinmarketcap listing. Coinmarketcap has certain requirements for listing that seem to change and be somewhat arbitrary. From what I can see, generally you need to be around for a while before Coinmarketcap lists your coin. Obviously, MWC will eventually be listed on Coinmarketcap as are the thousands of other coins that are listed there, but it seems not a good allocation of capital long term to spend much, if anything, to obtain this listing.

Our stance on these issues represents what I'd consider a "low time preference" as opposed to a "high time preference". We're going to be working on this project for a while and we intend to build something really outstanding and insanely great. We have the benefit of waiting. Another thing to remember with the exchange listings is that exchange listings are a negotiation. If we seem desperate to get on all the exchanges from day one, that won't help our negotiation position. With the product we are delivering, we are certainly not desperate.

Another thing I'd like to say to the community is that I hope exchanges and CMC doesn't become our top topics of discussion. As was mentioned, they're necessary but not sufficient in terms of what we're trying to accomplish. If all we can talk about are exchanges and cmc, that's a path to a place we don't want to go. That means that there's nothing more interesting to talk about than those topics. If that's the main interest, I would ask have you read the hundreds of articles that Andy and myself have written about MWC and why it's so important?

Lastly, I wanted to mention that we have been researching atomic swaps. There is some Mimblewimble based atomic swap code that is available and while it is in rough form, we think we can make it usable. That would mean that you could swap btc with mwc in our wallet without _ANY_ counter-party risk. We think this sort of decentralized atomic swap technology is the future and in particular if we're among the first to implement it well in a usable form in the wallet it will be huge. That is something that is on the horizon and likely next year we will be able to make it available.