Each month we will discuss what we have accomplished, where we failed, and what is left to come.
What have we accomplished in April?
- MoonTrust Token released
- Announcement of MoonTrust Wallet App
- Proof of app with screenshot and demo video
- 1k holders
Where have we failed?
- CoinMarketCap Listing
- CoinGecko Listing
Why did we fail?
Going into this, we looked at all recent projects listed at CMC and CG for the months of March and April. From there we looked at the weakest projects as the minimum bar requirement. With that information, we overestimated our ability to get listed because we felt we hit all the points.
We have found projects were listed even with the below characteristics:
- We are currently hovering at around 1.9m.
- We currently have 1.1k holders.
- We have fully disclosed our identities.
~5 day old projects
- We are currently over 26 days old.
Highly similar code base to hundreds of projects (Tokensniffer comparison)
- Our project passed the tests, including the unique test. Our Token smart contract does not have similar code to other projects.
Only description of app/utility with no screenshot proof
- We provided a video in addition to screenshots.
There has to be a reason why MoonTrust was denied, right?
To be honest, our team discussed this at length throughout the month of April. In the end, we think there is a “secret sauce” our project is missing.
- Our project staff is primarily made up of engineers, scientists, and boomers who work in the financial sector.
- None of us speaks 420, cringe, rocket emoji, or based language, which in the current crypto world is probably a mark against us.
Not big enough to be a professional project
- We attempted to emulate other professional projects that were listed. But we found that the critical difference is that all of them are either 10m+ market cap or backed by/partnered with existing crypto VC/Powerhouses.
We attempted to be a professional project without the backing of VC, but we did not go through private sales. We were hesitant to risk issues with SEC over unregistered securities, and we weren’t comfortable placing KYC restrictions on private sales. This meant our market cap would be extremely small.
We tried to incorporate memey-ness into our branding and naming, but it is still a difficult concept for us. After working in a corporate environment for so many years, various habits just stick with us.
So what’s next for MoonTrust?
Realizing our mistakes for April, we have officially partnered up with an exchange. The exchange will not only help us promote and advertise our project, but it will also work with CoinMarketCap to get our project listed.
This ordeal has motivated us more than ever to prove ourselves. We are aiming to push through app milestones at a faster pace than previously planned. We will be sticking to our motto: “The project will speak for itself.”
MoonTrust is also an important demonstration to our professional network that crypto technology is the future. We like the technology. We hope for more people from the traditional sector to incorporate crypto technology into their products and businesses. We hope MoonTrust Wallet App can pave a way for them to get started with crypto via our central APIs.
- Exchange Listing (mid-May)
- Testnet launch of MoonTrust Wallet App (early May)
- Browser Ver Mainnet launch of MoonTrust Wallet App (late May — hopefully)
- CoinMarketCap listing (late May)
- CoinGecko listing (late May)
- TrustWallet listing (contingent upon hitting 2.5k holders)
- Any task leftover from May
- Android MoonTrust Wallet App to GooglePlay Store (late June)
- iOS MoonTrust Wallet App to Apple App Store (late June)