This post recaps the AMA with Multichain, formerly known as AnySwap that took place on the Mogul Official Discord Server on Monday, January 3rd.

Intro: Welcome to the AMA @everyone! Happy new year!

Today we’re going to be joined by @Marcel from Multichain, formerly known as AnySwap. He’ll be answering everyone’s burning questions about the Multichain and so much more.

I’d like to welcome @Marcel to the channel. I know some of the community have already met Marcel in an AMA before, but for those who haven’t, it would be great if you could introduce yourself and tell the community a bit about what you do at Multichain.

Marcel: So pleased to return to you! A very Happy New Year to you all. I hope that 2022 allows me to see the first Mogul production. That will be truly exciting. 

I’m here to let you know the latest developments in our platform, now known as Multichain and to answer any questions that you may have and maybe to explore how we can work together in the future.

Q1: That’s awesome! This is our first AMA for 2022 and we’re so thrilled to have you here today. 

Let’s start this question, what was the reason for the rebranding and how did you come up with the name Multichainsw?

Marcel: We have changed a lot since we started in July 2020. Back then we were a DEX that did cross chain. We decided to refocus on crosshain only. We needed to let everyone know this by changing our name from Anyswap to Multichain, but we also needed to create our base on Ethereum – same as you do with STARS. This is where most developers are and where most capital is too. Of course our new token, MULTI, is available on many blockchains.

With our rebrand, we created a new website multichain.org, with decent documentation, 24/7 Zendesk support, a new frontend p[latform which is easier to use – app.multichain.org.

We also announced $60 mm of Venture Capital funding led by Binance, our new strategic partner, a listing on Binance and announced our intention to let MULTI holders stake their tokens, to earn a share of the bridging fees (more than $100k per day) and to vote on how to use our new DAO

Q2: Congratulations on everything! What a way to end 2021 and start an exciting 2022. For our next question, For our community members who aren’t familiar, can you please give them a quick overview of what problems Multichain helps solve?

Marcel: Sure

Multichain is the ultimate Router for web3. It is an infrastructure developed for arbitrary cross-chain interactions. All open source, all trustless and decentralized.

We used to focus on token swaps between chains, but now we also include NFT swaps and any type of interaction with smart contracts between block chains so developers can think of new ways of joining up all block chains and projects.

Several projects have integrated our router directly into their platform, so that users don;t even know they are using Multichain. This is the direction we want to head in.

Our aim is to make a perfect user experience, where they don’t even know which blockchain they are interacting with – leveraging all that is best from each chain and the projects that are on them.

Q3: When I saw the announcement, it felt like watching the Avenger assemble scene haha

Aside from the Blockchain Metaverse Alliance, are there any partnerships in the works? 

DeFi Vlad: Yes…We are always on the lookout for new partners. BiShares works best the more partners we get involved so we are always looking for partners we can help out with.

I noticed our biz dev @eznika here with me…he may chime in on some of these questions

Speaking of partnerships, we are gearing up for expansion to a new chain so there will be some partners to announce for sure

Q4: Awesome! That would be perfect for beginners in crypto and NFTs. It would lessen mistakes and losses from their end. 

Now that we’re talking about blockchains, do you plan on having a NFT Bridge and Router for other  BEP-721 and BEP-1155  smart contracts?

Marcel: We have a new NFT router developed by André Cronje of Fantom. Developers can now bridge NFT’s between blockchains. The first implementation was Artion on Fantom, allowing NFT’s to be bridged from and to Ethereum, but we now have Pink Flamingo and several more coming. I can see how our BFT bridge would work well on Mogul. I see a lot of discussions here about NFT’s.

Both 721 and 1155 standards are supported.

Let’s see how we can work together to make this a reality for Mogul.

Q5: Yes! We’re already partners with our STARS bridge and I’m sure that the community would love to see more from Mogul and Multichain.

Let’s move on to the next question, with the explosive growth of both the DeFi and NFT space in 2021, Do you see there being an appetite from other projects looking to launch their tokens so they are cross chain compatible like Mogul. For example, how we offer our community both ERC-20 and BEP-20 STARS tokens.

Marcel: My colleagues and I spend most of our time talking to projects who want to be multi chain. New projects want to start straightaway on multiple chains. We now have more than 1,100 tokens on our Router and more than $5.5 B value crosschain. It is the new normal.

Mogul were early!

Q6: We had our first AMA with you mid-last year and it was amazing to see the growth of Mogul and Multichain. Hoping to see more in the next coming months!

Some people might not be familiar with these terms, can you tell us a bit about the SMPC Network and nodes?

Marcel: Of course! Moving between chains is not a simple task. The main issue is security, and we have seen some terrible exploits in the past. The way that we are trustless is to use our MPC network of nodes. They alone can sign transactions allowing cross chain interaction. Each node only ever knows a part of the private keys to do this. This distinguishes us from our competitors – no Externally Owned Wallets are involved – that together with the fact we are open source makes us the only verifiably decentralized bridge network. Soon anyone will be able to run an MPC node.

MPC == Multi Party Computation

You can see our MPC network at anyswap.net

Q7: Amazing! For my last question before I give the floor to the community, can you please share some of Multichain’s plans for 2022?

Thank you Naj. Yes – our first task is to start staking on MPC nodes and to include governance of our DAO using ve MULTI in a similar way to how Curve works now. In parallel we will continue to integrate new chains – Solana’s Neon, more COSMOS chains (we do Terra now), Moonbeam and other Polkadot chains. We have by far the most volume of any Router today and we will stay ahead of the pack – we LOVE working with new projects. It is the best job in crypto.

We see each project as our partner – like Mogul. Where shall we go next?

We won’t dictate what that direction should be – we talk to you and others and chart a new course.

Q8 (@Barcell1): Is it possible to change from polygon to BSC without paying eth fees ?

Marcel: Absolutely! We have very many routes between Polygon and BSC. Most users bridge stable coins, including USDC, USDT, MAI, MIM, FRAX etc. Fees are often a flat $0.90

Q9 (@Bengss): What will you do differently to secure investments?

Marcel: We did not approach anyone for investment to be honest. We are obviously thrilled to have been asked to partner with Binance and others. They see we work hard and are true to the spirit of crypto.

Q10: I guess they don’t have any questions anymore haha

I’d like to thank @Marcel for taking time in your busy schedule to join us today. Can you please share your new website link and socials so our community can check your new site and socials.

Marcel: Thank you Naj and all of you! I’m delighted to return here and to see you thriving.

You can visit our website at multichain.org and join our Telegram chats (including our new DAO chat). All links are on the website

Talk to us – how about an NFT bridge? Let’s get this ball rolling

Have a great 2022 movie makers!

This post recaps the AMA with Eugen Nussbaum, Business Director of MILC that took place on the Mogul Official Discord Server on Monday, December 27th.

Intro: I’d like to welcome @Eugen to the channel. It would be great if you could introduce yourself and tell the community a bit about what you do at MILC

Eugen Nussbaum: Yes sure, thanks for having me here today! 

My name is Eugen Nussbaum, based in Munich, Germany. I have been Business Director at Welt der Wunder, the brand and company behind the MILC project, since 2013. During this time I have seen pretty much all facets of the media and broadcast industry, from production, to buying/selling and broadcasting, especially video content.

I came in touch with blockchain technology and crypto in 2016/2017, when we have been working intensively on the opportunities that blockchain and crypto offer in our industry and are convinced that this technology is a game changer in this sector and for this reason we have opened up the project to the crypto world.

The 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.

Meanwhile the platform became way more than this marketplace as we entered the metaverse space, but let me tell more about that later 🙂

Nice to meet you! I’m Naj, social media manager of Mogul Productions and I will be your host for today. 

Q1 (Sol), Can you talk about how MLC makes it easier for consumers to find content they want? How does MLC help with licensing?

Eugen Nussbaum: Sure, glad to do so!

So on the one hand, we offer the classic trade between professional buyers and sellers, for example producers and broadcasters worldwide, based on state of the art user-interfaces and technology like ai. On the other hand, we want to make it possible for producers to create their own channels and participate directly in the sales. Behind this is a very well-developed broadcast technology. And last but not least, we are very much focusing on the financing of new projects by the community and investment by individuals. Until now, this was basically not possible, but technologies such as blockchain or token models based on it, such as nfts.

Just a one-stop-shop when it comes to content 🙂

Q2: That’s awesome! What social media platforms are your content creators from? Are they mostly from YouTube or Tiktok? or Is it movies and/or short films?

Eugen Nussbaum: Right now we have opened the marketplace for professionals, user generated content will follow, but needs more attention 😉

But we see the creativity in user generated content and how the platforms profit from that without sharing with the community. We will change that 😉

Q3 (Sol): What value does MLC add for the consumer and the content creators?

Eugen Nussbaum: Well, customers should have freer access to curated and high-quality content, but the creators should also be able to profit from it and make a living. This is not the case on the current platforms, although it is certainly being collected. It’s just that this revenue is not being shared fairly. That’s what we’re changing. So a Win-Win for both parties 🙂

Q4: That’s great news for creators! Let’s move on to a question that involves the metaverse. Can you tell us a bit about how you plan to grow the MILC Metaverse and some of the different use cases for your community?

Eugen Nussbaum: We see our project as a versatile platform with different projects and partners. Some projects we can push through ourselves, some projects we can offer a platform, like a kind of window into another world. E.g like with Mogul we see both short-term opportunities and long-term ones. 

And another very important step we are working right now is our community platform to onboard users in our metaverse and participate

Q5: A few days before the end of 2021, can you share a little bit about your plans in the next few months of 2022?

Eugen Nussbaum: We recently closed the first content deal on the platform and of course marketing is one big topic for us as the platform is live now. Another focus is the community platform. And the other one is growing the city to provide more experiences for the users, e.g. the music palace and more partners.

Q6 (Giáo Xư Trần Tiến Sĩ): How could I utilize this platform to create passive income from digital assets? And how will you maintain the stability of the token so that token holders will not suffer from huge profit loss?

Eugen Nussbaum: Registered users will profit from the platform advertisement users to engage in activity. Therefore different models will be offered

Stability of the token will come exactly with the usage. Different to many other projects we already have a running platform which is a big advantage in our eyes 

Q7 (Sol): Can you elaborate on potential partnership with Mogul?

Eugen Nussbaum: Both projects are in the same industrial environment and we see the future in the exchange of experiences and skills. As said, we are about building bridges instead of walls. We offer the open platform to share the idea of Mogul and in return we can definitely learn from each other when it comes to financing projects e.g. with NFTs

Q8 (Arru): Will it be possible to buy some Land/buildings in the metaverse?

Eugen Nussbaum:We have a different approach on that as we want to engage activity in the platform for users and reward them e.g. with some presents. But everyone will have a the equal small house for the beginning. But industrial partners will have the possibility to build their buildings and as said, this revenues will be shared with the community

Q9 (champions.eth): As a filmmaker that partners with notable stars to produce their documentaries, what opportunities are there to begin financing films through Web 3.0, bypassing the traditional gatekeepers and tapping into the large audience of our doc stars?

Eugen Nussbaum: Well, this is the whole philosophy of blockchain technology, enabling p2p communication and participation. We already experienced the power of community when it comes to communication, but this effort should be valued. So your fans and community are already the best ambassadors, but technology makes it possible that they can be investors as well, regardless of the amount you can invest. blockchain and smart contracts take the administration out of it

Feel free to get in touch on Telegram to exchange ideas how this can work, as we already have similar projects in the pipeline!

Danke! Please let us know all your socials so the community can follow you and MILC

Eugen Nussbaum: Check out www.milc.global ! There you will find all the links!

Our Metaverse URL is metaverse.milc.global

Dear Moguls,

We hope you are enjoying the holiday season. We want to take this opportunity to thank you for your continued support and participation in the Mogul community. Since we launched in February 2021, we have grown exponentially! We’re excited to reflect on this past year, and we are looking forward to what 2022 has in store.

Happy New Year!

The Mogul Productions Team

2021 IN REVIEW

February – The STARS Token is Created

• Mogul Productions launched its platform with over 37,000 sign-ups in the first 6 weeks! Read more here and here.
• Mogul partnered with Polygon, replacing complicated interfaces and improving the user experience.

March – Access Pass is Announced

• Mogul announced the Access Pass NFT to represent the purchaser’s level of access within the Mogul platform to be used for access, governance, voting, and as an in-app currency.
• Mogul connected with artist Rob Prior and began a partnership to create tokenized artwork inspired by iconic movies like Star Wars, Wolf of Wallstreet, and Marvel.
• Mogul smart contracts passed a security audit by blockchain security team Zokyo.

April – STARS Launched

• Mogul announced the first film to be financed, Bonded.
• STARS holders were able to leverage their tokens to participate in unique opportunities and exclusive rewards. Read more here.

May – Proof of Origin

• Mogul partnered with Untraceable Events and hosted Rob Prior and other special guests for the “Proof of Origin” live stream, discussing the rising popularity of NFTs
• Rob burned his original painting, Reign of Money…. what the f$ck (Wolf of Wallstreet) on camera and unveiled the resulting NFT, which sold for 5.5M STARS ($182,050 USD at the time). View the Livestream recording here!

June – All Access Passes Launched

• Mogul entered a distribution deal with AIOZ Network, allowing Mogul to ensure a blockchain-based distribution partner for its film financing.

July – STARS Launched on Binance Smart Chain

• $STARS launches on Binance Smart Chain, ApeSwap, and MultiChain (formerly known as AnySwap).
• Mogul begins their first #DeFi film voting showcase.

August – Community Growth Continued

• Mogul’s Twitter page reached 50k followers.
• Terminal Station wins the first official voting showcase.

September – Mogul NFT Marketplace Launch

• Launch of the Mogul NFT marketplace
• Reboot Camp NFT collection was created and included 11 one-of-a-kind NFTs with talents like Ja Rule, Nicole Aniston, and David Koechner.
• Mogul participated in the Reboot Camp Red Carpet Screening event in LA

October – Legacy Collection Launched

• The Legacy Collection, Portraits of Stan Lee NFT collection was launched on the Mogul NFT marketplace and auctioned for 48 hours.
• Mogul partnered with NFTY and hosted an AMA featuring NFTY Labs CEO ​​James Lawrence and NFTY Labs COO, Ty Blackard

November – More Partnerships

• Mogul partnered with Blackdove and hosted an AMA with CEO, Marc Billings.
• STARS became available on the biggest DEX on Binance Smart Chain, PancakeSwap
• Mogul added support for MetaMask mobile app users to interact with smart contracts on our Mogul platform through the built-in browser.
• Mogul’s NFT Marketplace became available on BSC.
• STARS on the M00n Community Contest launched, with art from Rob Prior, featuring Vitalik Buterin, and Elon Musk
• Mogul announced the reveal of Mogies, created in partnership with the animators of “The Simpsons” and “Rick and Morty”.
• Mogul joined the Blockchain Metaverse Alliance w/ CEEK, BiShares Finance, ProjectOasis, and NFTY.

December – New Listings

• MEXC Exchange Listed $STARS under the STARS/USDT pair.

ANNOUNCEMENTS

• Our first AMA of 2022 will be with Multichain (formerly known as AnySwap)! Join us on January 3rd at 6:30AM PT/9:30AM ET/2:30PM UTC as we talk to Marcel to discuss everything about Multichain.
• Our first Twitter Spaces of 2022 will feature BitJoin Studios! Join us on January 4 at 12PM PT/3PM ET/8PM UTC for this.
• We have lots of special content, including new drops, coming in January. Be sure to follow us on social and join the Discord to stay tuned!

THIS WEEK ON SOCIAL

For our last Twitter Spaces of 2021, we hosted The Red Ape Family – the world’s first animated comedy series built around and starring blue-chip NFTs!

If you don’t already follow us, you should! We’re on every channel, and you’ll stay informed on all the opportunities to participate in giveaways, win prizes, and you’ll be first in line for information on new drops.

‍

This post recaps the AMA regarding the Bitmart incident that took place on the Mogul Official Telegram on Monday, December 13th.

INTRO: Welcome to the AMA everyone! We’ll be discussing the BitMart incident and our plans with $STARS. Today we’re going to be joined by the Mogul team to answer all your questions.

Mogul Official: Thank you everyone for sending in questions over the weekend. It seems we’ve had a very positive response from the community on the Crisis Confidence Plan.

For those that have not reviewed the release, please refer to this blog post: https://www.mogulproductions.com/post/crisis-confidence-plan-official-bitmart-statement

Q1 (solmoss): Is there a timeline on the 21 million stars being purchased by Bitmart?

Mogul Official: We have not been sent a timeline. BitMart has told us that they will not run on fractionalized reserves and that every user will be able to withdraw. They’ve said they’re working with a professional asset management team to make this happen. 

They have told us that they are already purchasing STARS, which we can see is true because there have been successful withdrawals of about 5M STARS tokens from their platform.

In order for someone to withdraw successfully, they’ll need to have the tokens to facilitate it.

Q2 (jbarcel): If the hacker uses any privacy platform out there, like tornado cash with stars, how is the team going to track the hacker’s wallet address?

Mogul Official: It’s not our responsibility to track the tokens after that’s happened. The hacker moving the tokens through a privacy platform like tornado cash will initiate the Crisis Confidence Plan, in which case we will take a snapshot of our holders the block prior to them moving tokens and issue a V2. 

We’ve thought of every scenario to give people confidence in Mogul and STARS.

TLDR: the hacker cannot send through privacy platforms and successfully extract value.

Q3 (Jerry Crypto): What is the next plan of action supposing the problem is not handled appropriately by the BitMart administration?

Mogul Official: At this point, we’re confident that BitMart will handle the problem appropriately. They have just raised capital at a $300M valuation and like many exchanges, they’re cash liquid. 

People have already been able to successfully withdraw from BitMart, which indicates to us that they’ve acquired STARS to make this happen. We have not given them any STARS to allow for this. 

We think the risk of that is very low, but our number 1 priority is the safety of our users and if Mogul needs to step in we will, despite this not being our error. We are committed to our community and giving confidence to our fans

We will also not only be dependent on BitMart ERC20 markets moving forward, so our users will have alternatives.

There will be an upcoming announcement on this, but that’s not the purpose of today’s AMA 🙂

Q4 (solmoss & MarkFacebook): want to know what this means…

“BitMart has not shown Mogul proof-of-payment to acquire STARS tokens. They have been advised against this due to possible price manipulation.”

Mogul Official: Mogul has asked to see the specific addresses, transactions, and balances of STARS. This has not yet been provided to us, but the successful withdrawals show that they’ve happened and are happening. 

BitMart stated last week they are not providing projects with info on “how” they are acquiring the tokens and through what methods and on what chains. We suspect this is because they’re working with a professional asset management team who’s helping them to acquire STARS at the best price they can to minimize the total cost of making their mistake right with the 45 impacted tokens. 

This is an incident that spans 45 projects – not just STARS – and many of these projects have much more infant markets. 

There is a chance that communities could increase the price or track their addresses on dex’s to front-run their orders and things like that. 

It seems prudent with the many variables they are dealing with to quietly acquire these STARS (and the other 45 tokens they’ll need to require) without having to worry about the possible game-theory outcomes of letting everyone know exactly how they’re doing it.

The importance for us is that they’re staying true to their word on making sure our users are able to withdraw from their exchange. As long as that is happening, we are happy and our community should be too. We are not giving them the STARS, so they will need to acquire them.

Q5 (solmoss): Has Mogul been approached by several new partners to establish key relationships to make STARS more accessible with more widely used and reputable exchanges that meet our rigorous security standards for partnerships?

Mogul Official: Yes. More on this soon. We’re not in the business of announcing things before pen meets paper.

Mogul is a long-term project and the reputation of our business is important in negotiations. It’s not good practice to leak these discussions.

Q6 (Tarik Ceek): Do you have backup plans to protect the price and the investor many people are at a loss right now?

Mogul Official: Thanks for the question Tarik and thanks for joining us. 

Price is a factor of many things. We don’t talk about price in this channel, but it’s my personal opinion that there was fear in our community when this hack occurred. 

The hacker did not sell the 19M tokens, but there was fear that they “might” sell, so many community members got scared and sold their tokens. 

Our priority right now is to make sure there is confidence. There is no fear. That’s why we have put together the Crisis Confidence Plan – to make sure that our community is safe, protected, and has widespread use cases for their STARS tokens and no longer need to worry about the hacker. 

I hope that this action plan, the way that we are responding to BitMart’s error, and the future utility and use cases for STARS in our community (metaverse, NFT marketplace, Mogies, etc.) will be very good for our entire community!

Q7 (jinxed): So is that true what I understand is Bitmart has to buy some STARS tokens from the market? 

Mogul Official: Yes

Q8 (Parzival): Hi, I’ve been researching Mogieland for days 🙂 but I couldn’t come to a conclusion whether a park will be established or land will be sold, or will you buy a land in ceek venues with your partnership with ceek and open an office there.  what’s the status?

Mogul Official: Right now we’re partnered with CEEK and have the Mogie theatre there in their metaverse. 

We have been building Mogies in a technical manner so that they are “built for the metaverse” in the future. Basically making sure that they are fully 3D, rendered, etc., and have their entire body structure. 

We are making a 1 min hype video for Mogies with our animation partners and chose to do so in a “forward-thinking” manner so that the background of the promo video is already built as the potential future metaverse for Mogul. 

If there is a lot of interest from our community to have a Metaverse specific for Mogies we will potentially add it to our roadmap and it will be faster than other projects due to the work we’re doing now.

Q9 (erso): How is the partnership with ceek going? New projects together, when can we hear new news?

Mogul Official: We talk with CEEK and Jarred Winn every week. We’re very close to them. The partnership is excellent!

We actually met with a celebrity here in Toronto on Saturday with who we will be doing activations with and he has a lot of interest in the metaverse and Mogul. He was playing a show at the largest performance venue in Canada and we had a sit-down meeting with him prior to the show.

Q10 (Night Stars): The STARS value must correspond to the crypto value of the withdrawn money, otherwise the stars can be doubled while there is value in the market cap. Has a solution been presented for this?

Mogul Official: I don’t understand the question. 

BitMart needs to buy STARS. We’re not selling them to them. Therefore, they have to purchase them from another person (i.e. on the market).

Price is a function of all the buying and selling that occurs. I can’t predict the price for you.

Q11 (S H H A B I B): Your project name seems to be very interesting. Does it have any story behind it? Can you share us with the inspiron for approaching to this name?

Mogul Official: The definition of Mogul is an important or powerful person, especially in the motion picture or media industry.

We are all moguls in our community because we are decentralizing Hollywood and making us all-powerful.

Q12 (KOLPONA1 akana 22): STAKING is one of the STRATEGIES to ATTRACT USERS and HOLD Them for the long term. Does your GREAT PROJECT have a plan for staking?

Mogul Official: Yes, we have great partners in ApeSwap and Beefy Finance that allow for staking. We also have a strong pipeline of projects that are approaching us to give more staking options

Q13 (KOLPONA1 akana 22): AUDIT plays an IMPORTANT role in enhancing the stability of any PROJECT. Do you have AUDIT CERTIFICATES? Or are you working to AUDIT your project to make it more secure and reliable?

Mogul Official: All our smart contracts are audited by the best firms in the industry and the public audit reports are displayed in our GitBook. Here’s the link to all our audits! https://mogulproductions.gitbook.io/mogul-productions/security/audits

Q14 (T): What about Mogieland?

Mogul Official: Mogieland will be the future Hollywood metaverse. We need our community to show they want us to build it!

Mogieland is basically Hollywood Boulevard of the Metaverse. Picture a place where you can buy a Hollywood STAR and own the shops on Hollywood Boulevard and the prestigious theatres. Or even the Hollywood sign! And take your Mogie around and engage in it with other community members and tour around.

The Hollywood sign in Mogieland is of course MOGIELAND.

Hollywood is one of the highest tourist destinations in the world. Mogieland can bring that experience to the Metaverse.

Q15 (T): Wow! That’s really nice! Excited, so are you gonna integrate the celebrities

Mogul Official: Yes.

All Mogie characters depict Hollywood characters. 1923 of the top characters in the last 100 years (when the Hollywood sign went up).

CONCLUSION: I would also like to hear from our community what they want to see in Mogieland and the things they will want to use their Mogies for. 

Of course, Mogies are only purchasable with STARS. And STARS are the official currency of Mogieland.

If there are no other questions about the BitMart hack or the Mogul Crisis Confidence Plan, we will end the AMA but our community managers are here to answer anything else.

To recap, our community can feel safe being part of Mogul and STARS due to the Crisis Confidence Plan. Now we move forward as a community and go to the STARS together!!

Big news coming soon! Thank you for everyones’ support.

Dear Moguls,

BitMart has committed to a STARS repurchasing plan after suffering a security breach last week. Mogul has taken the last week to speak with BitMart and our key partners to establish a transparent path forward.

On December 4, cryptocurrency exchange BitMart experienced a security breach. The Mogul Productions team identified the breach early on (before BitMart) and acted quickly.

• We worked with the AnySwap team to immediately pause the bridge from ERC20 <> BEP20, cornering the hacker and isolating the problem immediately.
• Working with our partners, we created a comprehensive action plan to prevent loss and minimize the impact on our users.

Mogul Crisis Confidence Plan:

We are committed to supporting BitMart in the best interests of our users and to help where we can. We appreciate our community’s patience, support, and discussion on this topic. Our highest priorities were to ensure our community members were compensated by BitMart and the longevity of STARS – the token that powers the Mogul ecosystem.

• BitMart has committed to a $STARS repurchasing plan to compensate users
• BitMart has told Mogul they are working with the FBI, top world security firms, and asset managers to make sure they minimize the impact and recover the funds that were stolen and other externalities caused by their security errors.
• Mogul will work with AnySwap to reopen the ERC20 BEP20 bridge contract.

Read our Crisis Confidence Plan detailing the path forward.

We will be hosting a Telegram AMA on Monday, December 13th, at 12:30PM PT/3:30PM ET if you have any questions regarding this. Make sure to send in your questions and join our Telegram: https://t.me/mogulproductions

Regards,

The Mogul Productions Team

ANNOUNCEMENTS

We’re joining Hacken Link and becoming a part of their growing network of partners. This will further expand our connections in the crypto and Metaverse landscape.

THIS WEEK ON SOCIAL

Did you miss our AMA with ‘The Simpsons’ and ‘Mogies’ animator Erick Tran? Catch up on the recap here!

On Twitter?  On December 7th, Mogul hosted Twitter Spaces with co-founder of BiShares Finance DeFi Vlad to talk about BiShares and the Blockchain Metaverse Alliance.

On Discord? Mogul hosted an AMA on December 6 with Weso, Strategy Leader and developer for Beefy.Finance. If you missed it, you can view the AMA recap here!

On December 8th, Mogul hosted an AMA with DeFi Vlad, Co-Founder of BiShares Finance for our community to connect with him. Catch up on the AMA recap here!

On Instagram? On December 9, Mogul Live hosted Joyce Chow, founder of iHollywood Film Fest and partner at Tri Star Continential Distribution. They were the first film festival to offer NFTs to the winners! View the replay here.

If you don’t already follow us, you should! We’re on every channel, and you’ll stay informed on all the opportunities to participate in giveaways, win prizes, and you’ll be first in line for information on new drops.

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Detailing the path forward.

BitMart has committed to purchasing all STARS to compensate users. Mogul establishes Crisis Confidence Plan to give users confidence in STARS

Mogul has taken the last week to speak with BitMart and our key partners to establish a transparent path forward after BitMart exchange was hacked for 21 million STARS tokens. To read our overview on the incident and the immediate steps Mogul took to protect our users visit here.

We appreciate our community’s patience, support, and discussion on this topic. Our highest priorities during this decision were to ensure our community members were compensated by BitMart and the longevity of STARS – the token that powers the Mogul ecosystem. This error has brought light on the importance of security within decentralized networks and is a great example of why at Mogul we audit our smart contracts with the best security firms in the world and use best-in-class security protocols for our internal development procedures.

The Solution

• BitMart has committed to purchasing 21 million STARS from the market to make sure that every user on their exchange has the ability to withdraw. They have told us that they will not be operating on fractional reserves
• Mogul STARS token will continue with the current token contract unless the Crisis Confidence Plan below is initiated
• The bridge from ERC20 to BEP20 STARS will be reopened
• Mogul has created a Crisis Confidence Plan in the event the hacker moves their STARS tokens

BitMart has told Mogul they are working with the FBI, top world security firms, and asset managers to make sure they minimize the impact and recover the funds that were stolen and other externalities caused by their security errors.

Mogul will not be issuing a V2 of STARS tokens for the following reasons:

• The risk of hacker funds being moved is deemed very low
• The operational time and cost to do a V2 of a token have been estimated to be well in the 6 figures. We feel this capital should go toward marketing and further improving Mogul products for our end-users
• V2 of a token causes significant user confusion
• BitMart has committed to funding the repayment of all impacted users

Risk Overview

The BitMart hacker is still holding 19 million STARS tokens. You can view their wallet here. Mogul does not have the ability in our token contract to blacklist their address.

The industry feels that the risk the hacker returns to this wallet is very low for the following reasons:

• In the event of a hack, the last action the hacker takes with a wallet is typically to use Tornado Cash to withdraw the ETH they plan to try and run away with. This is precisely the last action that this wallet has taken and it has been five days since their last move
• The wallet has been identified by many top security experts (and industry aggregators such as Etherscan and Certik) as a hacked wallet, and therefore any additional movement from that wallet puts the hacker at more risk to get caught (returning to the scene of the crime). This is and will be moving forward one of the most highly tracked wallets in the industry
• The amount of funds in the wallet, compared to the amount that the hacker withdrew is considerably low and rather illiquid. As of December 10th, the tokens total ~$21 million in this wallet, but the true liquidity of selling these 46 tokens would be a small fraction of that amount and require hours of transactions to occur (increasing the risk of the hacker making a mistake and exposing themselves)
• The hacker actually APPROVED STARS to sell them through the 1inch router but did not sell any tokens through this wallet. We believe the reason for this is because Mogul acted very quickly to alert our community and many community members pulled their liquidity from Uniswap. Mogul also shut down the bridge from ERC20 to BEP20 so that was the hacker’s only option to sell their STARS on Uniswap for very little. The fact that they approved the token and then decided not to transact gives a possible signal that they left their STARS without selling in this wallet
• There is a risk that the hacker tries to sell the wallet to someone else for a discounted rate of the total tokens. This risk is thought to be low because of the lack of liquidity on the tokens and the additional risk of the hacker exposing their identity. Also, the aforementioned reasons of how public this wallet address is and how it would be risky for an attacker to spend multiple hours liquidating these tokens to expose their identity.

For these reasons, it is highly likely that this wallet with 19 million STARS tokens has been abandoned and will not be touched again. This means, in theory, that these 19 million tokens are no longer part of the circulating supply of STARS.

Mogul Crisis Confidence Plan

Despite the risk of the 19M STARS tokens being very low that they will ever be moved, Mogul has still created a Crisis Confidence Plan to make sure we give our community the confidence they deserve to use STARS moving forward. Mogul and STARS will continue to thrive as the world’s top project where Hollywood and blockchain meet.

We have automated alerts that will alert senior members of our team when there is any movement with this wallet. We have established different plans according to the different actions the hacker can take. Detailed internal action plans are in place for selling or bridging events so that our team can act quickly.

1. Hacker sells tokens on Uniswap into minimal liquidity
2. Mogul & partners will purchase them back
3. Hacker moves tokens to a different wallet
4. Mogul monitors that wallet until a sell or bridging event is triggered
5. Hacker bridges their tokens to BEP20 (where the majority of Mogul activity occurs
6. AnySwap will pause the bridge, and Mogul will pause the token and immediately pause the STARS token to issue a V2 of the token

IF a STARS V2 is triggered (which is very unlikely), the following actions will take place to make sure all user funds are safe:

• Mogul has written a new STARS smart contract and is in the process of auditing it
• Contract may include LERC20 standards to prevent this situation from happening again, where our community will have the ability to blacklist an address and transfer out their funds after a vote.
• This is a contentious feature, and we will only implement this if we have the support of the community – it can be turned on and off.
• Mogul has changed the existing NFT marketplace, voting, and farming contracts to support STARS V2
• Mogul will take a snapshot at the exact time of the V2 trigger to obtain all address and balance data.
• Mogul will deploy the new smart contracts from our public deployment contract.
• Mogul will use Bulk Sender to issue the V1 holders their exact balance of V2 tokens.
• Mogul will work with AnySwap to create a new ERC20 BEP20 bridge contract
• Mogul will work with all exchanges to make sure that they support STARS V2 with their existing user balances
• Mogul will immediately notify Coingecko and CoinMarketCap to track the new token
• Mogul will work with BSC Scan and Ether Scan to properly label the contracts and verify their authenticity
• Mogul will change all documentation to point to the proper links and contract IDs so that no users have confusion moving forward
• Mogul will make adjustments to our platform to make sure that V2 STARS is reflected throughout the entire ecosystem
• Mogul will add additional trained support staff to make sure that all users know how to access their STARS V2
• Mogul will provide public documentation on our website and in our Intercom support system to make sure that all existing users have access to the official information

Other Considerations

• Nearly 5M tokens have been withdrawn from Bitmart already without issue. To facilitate this, BitMart would have needed to acquire STARS
• Mogul will not be issuing tokens to BitMart from our treasury to compensate users.
• BitMart has not shown Mogul proof-of-payment to acquire STARS tokens. They have been advised against this due to possible price manipulation.
• Mogul has been approached by several new partners to establish key relationships to make STARS more accessible with more widely used and reputable exchanges that meet our rigorous security standards for partnerships
• Mogul will only partner with projects that publicly display proofs of their audits
• Statements presented in this article are based on Telegram messages from official BitMart team members sent to Mogul representatives

An AMA will be conducted with the community next week to answer all questions you may have.

Thank you, Moguls for your patience. Now we move forward!

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Dear Mogul Community,

STARS and the Mogul Productions platform were originally launched on the Ethereum network. To help increase transaction speeds and lower fees, our team worked to make STARS BEP-20 compliant and available on Binance Smart Chain on July 15, 2021. We also partnered with AnySwap.Exchange to allow users to bridge their STARS between the Ethereum and Binance Smart Chain networks.

The Mogul BSC Marketplace was launched on November 10, 2021. Today, we celebrate over $60,000 in sales on the BSC Marketplace! We’re excited to share this success with you, the Mogul community. As a thank you, Beefy Finance has re-enabled staking of STARS-BNB LP on Beefy.Finance, this time for 30 days! We look forward to more successes as we continue to grow the Mogul community.

Regards,

The Mogul Productions Team

Beefy Finance

ANNOUNCEMENTS

Congrats to @Dbcryptosphere! The winning artwork for the Mogul Productions & NFTY Labs Art Contest will be available on the Mogul NFT Marketplace

Earn more rewards. You can earn STARS by participating in ybfMETA and the associated ybfMETA STARS Booster Pool on BiShares.Finance.

We’re migrating to MoralisWeb3! This migration will enhance the user experience by combating congestion on the Binance Smart Chain, and it will support scalability for the growth of our project. You can find our project roadmap here.

THIS WEEK ON SOCIAL

Thursday, December 9 @ 10 AM

Cindy Cowan, Chief Strategy Officer at Mogul Productions, will participate in a panel discussion with the Producers Guild of America. They will discuss how bitcoin, blockchain, and NFTs can be used to raise production financing and handle operating expenses. PGA Members can register for this panel.

On Twitter?  Which Vietnamese celebrity in the film industry would you like to see do a #Metaverse event with Mogul and CEEK? Let us know here!

On Discord?  Join us for AMA with BiShares.Finance next week!

If you don’t already follow us, you should! We’re on every channel, and you’ll stay informed on all the opportunities to participate in giveaways, win prizes, and you’ll be first in line for information on new drops.

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This post recaps the AMA with DeFi Vlad, Co-Founder of BiShares Finance that took place on the Mogul Official Discord Server on Wednesday, December 8th.

Intro: I know some of the community have already met you last night through Twitter Spaces, but for those who haven’t, it would be great if you could introduce yourselves and tell the community a bit about what you do at BiShares.

Defi Vlad: Yeah sure. I’m one of the co-founders of BiShares.finance a decentralized index fund-based platform. I and a few guys came up with the concept of creating index funds on the Binance Chain and since I have taken on the role of being the public face of BiShares

Well, my voice and avatars anyways.

Behind the scenes, I help design the concepts for new products, work with partner projects and just do whatever I can to help push the project forward.

Q1: That’s awesome! Being the voice and avatar of BiShares sounds fun. I’m sure some people are wondering what decentralized index funds are, can you tell us more about it?

DeFi Vlad: Haha right. BiShares is a platform for decentralized Exchange Traded Funds or dETFs for short. ETFs are a popular way to diversify in a basket of assets. BiShares does this but with crypto and in a decentralized way.

The project’s goal is to be a safe haven for diversification with variable risk exposure funds suitable to different profiles, from conservative to profit maximalist. Our funds include entire market sectors and ecosystems such as DeFi, GameFi, NFTs, and others, without having to manage a ton of tokens individually. We believe that as a community we can build dETF products that will track sector growth better than the avg individual would on their own.

Q2: Gotcha! Recently, BiShares announced the partnership with the Blockchain Metaverse Alliance that consists of Mogul, NFTY Labs, CEEk, and Oasis. What’s the goal of that partnerships?

DeFi Vlad: Yeah, great question

We are big fans of the metaverse… I guess everyone in crypto is. And we were looking for ways to help the sector in our own way.

BiShares as a protocol is built around helping liquidity for projects so we decided to build out a metaverse fund using LP tokens from projects we felt were the most promising such as STARS and CEEK and the rest of the Metaverse alliance

This way, (we) are able to help projects get more exposure to more communities, make it easier to invest in the whole alliance in one click, and help build LP liquidity for those projects while users earn yield the whole way

Q3: When I saw the announcement, it felt like watching the Avenger assemble scene haha

Aside from the Blockchain Metaverse Alliance, are there any partnerships in the works? 

DeFi Vlad: Yes…We are always on the lookout for new partners. BiShares works best the more partners we get involved so we are always looking for partners we can help out with.

I noticed our biz dev @eznika here with me…he may chime in on some of these questions

Speaking of partnerships, we are gearing up for expansion to a new chain so there will be some partners to announce for sure

Q4: I’m excited to see what’s coming. Let’s move on to the next question, what other opportunities can we expect to see between Mogul and BiShares?

DeFi Vlad: We are constantly building new products which help support the ecosystem and we do have some more tricks up our sleeve.

Just not ready to announce the details yet…since everyone always starts asking WEN DEV

Q5: Now that we’re talking about new products, what other products is BiShares building on the roadmap? Something that you can share a little insight on what’s coming.

Eznika: For sure! So currently we have 2 main types of products: dETFs – decentralized Exchange Traded Funds, which contain a set of underlying tokens which give exposure to many tokens at the same time. As Vlad stated

The other product is YBF – Yield Bearing Funds (which on the FTM side we call Multi Farms). These consist of an auto-compounding token that gets the yield from multiple underlying farms at the same time. STARS is featured in the Metaverse Fund along with the other tokens mentioned before and BISON, which is BiShares native token. We also have stables YBF for example, which only farm stable coins so there’s no IL for those who may be faint of heart of it.

We will keep building YBF/MF – of course – but we are also working on a little surprise which will be released on Cronos chain, I can’t share much -yet- or Vlad will get mad at me. We really like surprises and the project is still young, we try to explore and innovate with products for our users 

Q6 (@Sol): What are your criteria for selecting assets for the funds and what if the role of your token

Eznika: Great question! We pick assets and group them based on the sectors they belong to. So for example we have a fund that gives exposure to major coins like BTC, ETH, FTM, BNB, AVAX, etc. We do as well have a fund for GameFi tokens and big projects like AXS, Mobox, or Skill among others are included. We basically build funds according to sector and pick coins/tokens which would be suitable. So we take many profiles into consideration and based on their risk appetite

BISON is the governance token of BiShares which grants voting rights for protocol proposals. BISON can be staked to earn platform fees which are redistributed to stakers of it. We are currently working to grow the TVL of the platform which will result in more platform fees and more rewards for users. It’s important to point out that BISON is included in every fund and YBF/MF and that its a way to contribute to shaping the future of BiShares once the DAO is implemented

Q7 (@Sol): Are you positioning yourself for traditional and more conservative investors

We would definitely love to have traditional investors. Everyone has a spot at BiShares. For example, the CHAIN fund which I just mentioned is quite suitable for conservative profiles since it diversifies in top market cap projects like BTC, ETH, and BNB to name a few. There are many possibilities in fact and we build our funds trying to include every investor profile

Q8 (@Barcell1): Does BiShare have some hedge fund product with BTC? Like to when BTC crashes people at least in that fund could have some protection

DefiVlad: Working on something like this

Q9 (@Sol) — Today at 13:35

Will you be working to offer or be part of traditional retirement (401-k) type services

Eznika: Another great question! It would definitely be a great thing but crypto are still a new thing for most people. Not saying it’s not possible but as of now we believe the crypto market still has to mature and it will be some years before those types of funds are seen

Q10 (@Satm8una): Which metaverse platforms would you prefer to connect with?

Eznika: Projects included in the Metaverse fund are all great partners and very promising projects! We are very open to proposals from projects and always happy to talk

Q11: If there are no more questions, I’d like to thank @DeFiVlad and @eznika for doing this AMA. Can you please share your social platforms so the community can follow you guys?

Eznika: Sure! that would be great

• Website https://bishares.finance/
• Telegram https://t.me/bishares
• Twitter https://twitter.com/BiSharesFinance
• Discord https://discord.gg/w2jejq5rBP
• Medium https://bi-shares.medium.com/
• Youtube channel https://www.youtube.com/channel/UCjV58IkUJtWYLFBjmsA32iw

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