MAPXV Important News for Members
As has been announced in previous posts, MAPXV is winding down on Steem. This is not all bad news for members as there is a nice pot of HIVE to also distribute.
So here, as simply as possible, is what happens next.
Members have two options:
Plan A is to exchange MAPXV for MAXUV tokens;
Plan B is to sell MAPXV tokens at our set price.
MAXUV will continue running on Steem and will airdrop such MAXUV tokens into a new MAXUV-Hive token once Hive-Engine is fully operational. This should be soon, but we have no date for this.
Plan A
Under this token-swap plan, I am willing to offer 1.3 MAXUV tokens for every 1 MAPXV token.
This can be done very quickly as is just a token-swap. You, the MAPXV holder, must let me know this is your option by either leaving a comment or (possibly safer) coming to our MAP FinTech discord channel.
You must then send your MAPXV tokens to our @mapxv account on Steem-Engine. Once I have verified this transfer, I will send you the equivalent amount in MAXUV tokens, and will inform you once it is done.
You will also receive the same number of MAXUV-Hive tokens once we set that up on Hive and Hive-Engine.
The advantage of this token-swap plan is that it is quick to implement and you get double the MAXUV tokens.
Plan B
Under this option, we are prepared to buy back your MAPXV tokens at 1.2 STEEM each and you will also get 90% of that STEEM in HIVE tokens.
We are able to do this because we received about 90% of the MAPXV fund in the HIVE airdrop.
The STEEM value offered is slightly under the current ABV, but that value has included tokens held that may end up being worth very little. It is also in STEEM rather than STEEMP, so there are no withdrawal fees from Steem-Engine.
The advantage of this plan B is that you receive liquid coins, but the disadvantage is that you will have to wait for an orderly power-down on both Steem and Hive.
Paying Attention
If we had thousands of members, then this would be a highly complex operation, but we don't - there are fewer than 50 usernames and possibly less than 40 people. So this can work quite smoothly, albeit slowly, so long as everybody gets in touch.
Instructions will be processed on a first-come basis, and very large holdings will be processed in batches.
A couple of issues are bound to crop up, so let me deal with them here.
If you wish to swap your MAPXV tokens for MAXUV tokens and then sell those, that's fine and your choice but you won't get the MAXUV-Hive airdrop. The token snapshot for that new token will be taken a day or so before it happens. I will be taking token holder snapshots every day, just in case any systems collapse, but they are only to be used in such emergencies.
Also, I cannot speed up the power-downs. The reason we have been able to achieve such good votes is precisely because most of the fund was powered up. Once there is a queue for the plan B option, then I will keep everyone informed once each power down takes place. You may, if you wish, speed things up by going through the token-swap and then sell your MAXUV, but as mentioned above, you will then not receive the HIVE bonuses. The choice is yours and that third option has already been taken into account.
And lastly, the reason for not doing a token buy-back on market is the same as mentioned above - we simply don't have enough STEEMP to make that anything more than a token gesture. Doing this manually at the STEEM level also means saving two sets of transfer fees.
Any questions, please ask below or, better still, get in touch in our MAP FinTech Discord room.
Thank you to all MAPXV members for your support. I hope to see most of you in MAXUV and on both chains.
We have opened up a former MAP channel on Discord for anyone seeking advice or more information regarding any MAP FinTech program. You can find us here.
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