TOKEN SWAP INFORMATION FOR PREVIOUS MILC INVESTORS
General information about the Token Swap
The MILC team is delighted to announce that we have set in motion a token swap event for all of our previous investors as we are approaching our Token Generation Event (TGE).
Token swap is a mechanism through which you swap your previously purchased MILC tokens to the MLT (Media Licensing Token). The rate is set to 1:50 to match the previous value, meaning 1 MILC = 50 MLT. The token value for the upcoming Public sale is set at $0.09 USD.
As you know, MILC conducted fundraising rounds in 2018, but didn’t raise what is needed to fund the Platforms operating costs due to the tough market conditions (bear market). The sale was put on hold while the team continued developing the platform and we financed it ourselves. We built many features such as AI-subtitling, automatic translation, open store system development, along with inclusion of other services such as PR, web, media, etc. We established a reward system and extended the marketplace from just being in the B2B world to also including the B2C world to make it possible even for non-professionals to create and market their content. We also went through internal testing with our TV network structure, Welt der Wunder, as well as with our partners from Swiss Television. For almost 3 years now, the platform has withstood all the demands of a professional TV station and passes every technical stress test on a daily basis. Several 1000 assets from the World of Wonders TV Library alone are organized and provided here. It is now 100% ready to operate a worldwide marketplace and will execute it without any problems.
MILC is very mindful of potential risks associated with tokensale and allocation. All who joined our tokensale at that point — whether larger or smaller token holders, will not face any disadvantage. After discussions within our team, we decided that a token swap is the most robust option. The supply and value per token has been changed which sets the swap ratio from previous MILC tokens to MLT as 1:50. The vesting for these previous investors will be as follows:
- Presale Investors: All previous Presale investors will follow the new private sale vesting schedule; 25% released at TGE, 25% monthly onwards.
- ICO Investors: All ICO investors’ tokens will be released at the Token Generation Event;100% on exchange listing date.
Please Note: The Exchange listing date will be announced at a later date. Please follow our social media channels to stay updated.
Swap Procedure
A test-snapshot of the blockchain has been taken to gather information about the current MILC token holders. The data has been reviewed to confirm the tool works as intended.
A final snapshot will be taken 22nd March 2021, and the MLT will be distributed according to the schedule below directly to the MILC holders. The amount of MLT received will be based on the rate 1:50. Example: If you hold 100 MILC in your wallet, you will receive 5,000 MLT.
What should I do with the old MILC tokens?
The old MILC tokens will have no value after the final snapshot has occurred. MLT replaces the MILC tokens, and besides the nostalgic value, they will have no real value. What you decide to do with them is completely up to you.
Thank you for the support and patience
The long wait is soon over, and we look forward to speeding up the project again and launching MLT on the market. Our team would like to express our gratitude to the community and investors for their unwavering support. We will always be indebted for the immense trust you have put in us. Stay tuned for further updates about the project.
About MILC
MILC platform aims to provide the industry with an open new marketplace for every professional and non-professional content provider and buyer that incorporates cutting-edge broadcast, blockchain and AI-technology which can become a game changer for the entire media content industry. It solves three fundamentally important challenges of the global media industry which are Global availability, Complex licensing and Early feedback from viewers. MILC is developed by Welt der Wunder, a media brand with now 25 years experience and presence in the business
