(4/4) Any payment for the purchase over the intellectual rights will be paid directly to token holders as a way of airdrop to holders. No money/tokens will be sent to us. We deeply apologize for this.
(1/4) This was initially announced in our community group:
This is to formally inform you that we will be shutting down the MWG project. It was a tough decision for us as we tried different ways to continue the project to no avail.
@projex180 Please refer to this. We are still looking for outside investors and even revenue generating activities to cover up the cost of development.
(2/2) Unfortunately, less work has been done this week since we are focusing on obtaining funds from outside investors to help the project back on its track. This may continue in the next few days, weeks or even months.
We apologize for this inconvenience. 🙇
To reduce further cascading negative effects of FTX, Binance is forming an industry recovery fund, to help projects who are otherwise strong, but in a liquidity crisis. More details to come soon. In the meantime, please contact Binance Labs if you think you qualify. 1/2
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As a result of corporate due diligence, as well as the latest news reports regarding mishandled customer funds and alleged US agency investigations, we have decided that we will not pursue the potential acquisition of https://t.co/FQ3MIG381f.
This afternoon, FTX asked for our help. There is a significant liquidity crunch. To protect users, we signed a non-binding LOI, intending to fully acquire https://t.co/BGtFlCmLXB and help cover the liquidity crunch. We will be conducting a full DD in the coming days.