As mentioned in our recent communication, 2019 was the year when we were pushing towards the new structure of our startup. With LEONUS on one hand and the Digital Asset Platform (branded as DAP19) on the other, both going live and starting to generate revenue, we needed to evaluate how to go ahead into 2020. We had plans A, B, and C in mind, analysed all our options and made the decision to offer you the conversion of all your MRP tokens because:
- we cannot continue with the project as it is, because potential customers of our software and strategic partners don’t want to deal with tokens at all, and
- we want to maximise the value of your contribution in the following phases of our journey.
The current Moneyrebel app will be removed from the market
We have to admit that at this stage we don't have the resources and support to follow our initial vision of a Marketplace of Advisors through the Moneyrebel platform. Instead, we partnered with ABC Tech and built LEONUS, as a comprehensive digital banking solution which brings banking to your fingertips. With an integrated advisory platform, we deliver a state-of-the-art software solution for efficient advisory processes in all financial sectors.
This partnership means that we will disable the current Moneyrebel app and remove it from the market (App store and Google Play as well as the web version at moneyrebel.com) soon. Instead, you will find a lot of different "Moneyrebel" platforms on the market, but they will bear different names. For example, your local bank or advisory house can be the customer of LEONUS and offer you the digital banking or advisory module under their name, as we will only sell it as a white label solution.
Let us go back to how it all started …
Back in 2017 when we started our journey there was enormous hype around utility tokens. The simple, yet powerful concept attracted a huge amount of money and supporters. Startups with a good idea and requiring finance should have issued utility tokens. Startups got funding to develop their products and supporters in return got tokens as a voucher to buy future products or to pay for related services.
As this crypto bubble popped at the beginning of 2018, we started looking at what was beneath. As with most of the startups, there was nothing!
Moneyrebel should not to be compared to other crypto startups. We have been different from day one! We tried to merge FIAT and the CRYPTO world and our founders all had existing businesses, so they didn't take the money from supporters and quickly disappear. We raised money to develop our phase one Advisory platform, as was promised in the whitepaper.
How did we invest the raised capital?
We raised 10,327 ETH, converted 50% of it to FIAT and invested it all to develop Advisory platform phase one, as promised in the whitepaper. Unlucky we were with the other 50%, since 25% was immediately trapped in Parity bug (and still is) and the other 25% was left for operations. We used half of it and the other half are still there and were put to work. First with crypto arbitrage and then, when we didn't see the results expected, we created a portfolio of top 10 crypto assets and launched CRI10X asset backed token to DAP19 platform.
DAP19 as a digital asset platform
Last year we saw increased interest in asset backed tokens. We already launched MRPRO as the first asset-backed token product (it is a specific arbitration strategy implemented through ETF funds), which was then joined by the CRI10, which we recently upgraded and dubbed the CRI10X. Soon, another product will join the platform. At the same time, we were constantly aware of the need for a secure digital environment, so we decided to build a DAP19 platform where we would open accounts for all MRP token owners.
What options for conversion will we offer?
MRP tokens, which are utility tokens, can be converted into two asset backed tokens, according to predefined conditions, or exchanged for a service voucher on the DAP19 platform.
There are two types of MRP tokens:
G tokens (tokens with guaranteed conversion rate 20 MRP for 1 EUR (0.05 € for 1 MRP token) or 13,888 MRP for 1 ETH):
- the tokens received in return to support the Moneyrebel project either in FIAT or crypto in pre-ICO or ICO phase of the project.
N tokens (tokens where we took into account the highest market conversion rate for 1 MRP token in the last month, which was 0.0024 EUR for 1 MRP):
- the rest of tokens, such as Airdrop, bounty, bonus, tokens bought on an exchange, etc).
What will happen if I don’t convert my MRP tokens?
MRP tokens are to be delisted sooner or later and they will completely lose their value. Therefore, it is extremely important that you follow the simple instructions in the next few days.
By the end of the week, we will send another email to all our supporters with technical guidelines on how to start the conversion process.
We are also preparing a video explaining this process for you in detail.
As we need to understand how much of MRP tokens you have and where do you keep it. We kindly ask you to:
- watch a video explainer with guidelines,
- fill out a Client form following the link in this email and
- submit the form by clicking the SUBMIT button at the end.
Video instructions - https://www.youtube.com/watch?v=6GwLArwxN0Q
Client form - Click here for from
Please submit this form with correct data no later than February 07th, 2020 to enter the process of conversion.
If we don't receive your information, we believe you are not MRP tokens holder and you will be excluded from the conversion process.
If you have any questions, do not hesitate to contact us at firstname.lastname@example.org.