MWC decentralization : distribution of DEV fund and unclaimed airdrop fund

MWC Team

September 6, 2020

From the genesis block, MWC has generated considerable interest from the community. However, the dev fund represented a central point and risk of attack. It seems the best options are to either burn or to distribute the dev and unclaimed airdrop funds. Burning the coins requires a hard fork and it might be difficult to get consensus. So the latter option has been chosen, to distribute the dev fund and remaining unclaimed airdrop funds to users.

The remainder of the entire DEV Fund, which was created in the genesis block, the HODL rewards that were received by the dev fund which account for about 30% of the coins that were in the dev fund, and the remaining unclaimed airdrop fund, will be distributed to equally to all outputs in wallets that are registered as of block 437,000.

The distribution will start at block 440,000 and coins must be claimed by block 460,000.

The remaining unused portion of the DEV fund is:  2,061,667 MWC

The unclaimed airdrop: 232,113 MWC

Total coins to be distributed: 2,293,780 MWC

While this decision had to be made due to the circumstances, there has been considerable interest from community members who have an interest in funding MWC development. There will likely be some delays to currently scheduled tasks, but we hope to regroup after this transition and the project can be stronger than before due to its decentralized nature.