The MonkeyFirm Post Launch Update
What a road it has been, and we are so pleased to be live with our Decentralized OTC solution powered by NFTs. We are also stoked to have integrated Chainlink (insert more here)
What truly makes our project special, is our adaptability to any market, be it bull or bear. Many associate trading with the bull market, however, in a bear market, illiquid altcoins struggle to be traded without a significant impact on chart prices.
For example: Mr. Ape has 100k worth of MFRM, he wants to sell some of his tokens, but still believes in the project and doesn’t want to cause a negative impact on the price. Trading his tokens OTC may be just that option.
- He gets to sell some of his tokens and maintain the current market price
- He can still retain his remaining tokens at the existing market price
- A new happy buyer is stoked with their purchase.
We have also taken all considerations in mind when it comes to our traders. The price band feature protects the seller. Once they have listed their token and specified a floor price, they can walk away knowing their asset is protected. Their token will not sell below this specified price.
Our traders are also able to play the market on their own terms. With the price band feature, they will be able to set the sell price to either:
- Follow the market price, with a floor price set
- Sell below the market price at a percentage specified by the seller
- Sell above the market price at a percentage specified by the seller.
These features remove so many headaches associated with OTC trades, with a mere 1% fee to The MonkeyFirm, With slippage is taken into consideration for illiquid altcoins on mainstream exchanges, this is a pittance!
The above is live and ready for traders to use and overall the launch was successful. However, please be aware that among the four supported chains, (Ethereum, Polygon, BNB Chain and Fantom) network slow downs can impact loading time on the Token NFT marketplace. Currently we are seeing the main issues with BNB Chain and Ethereum, but we will do our best to advise the community when this comes to our attention.
Ongoing improvements to the overall user experience is of the utmost importance to us. Since launch, we have been taking on feedback and implementing what we deem to be beneficial to the project. This will be a continuous evolution and we appreciate hearing your thoughts. In fact, we encourage you to DM us via twitter or contact Hazel Bouvard on Telegram with your use case experience. Constructive feedback that leads to an improvement to user experiences are most welcome!’
We have added official documentation to our site. Our Gitbook is a fountain of information and will continue to grow and evolve over time with the addition of new features. Here you can find step-by-steps, background information, tokenmomics and much more. We will continue to keep you updated with additional information being added over the coming months.
We have updated our youtube channel with our step-by-steps to ensure using our site is easy for anyone! These will evolve along with the user experience over time.
Yes, we have a lot in the mix, figures to be shared in the next update.
We are so excited to have met this milestone with you. We appreciate your support and will continue to work hard to bring our projects to the next level… the moon.