Toronto, Canada
We’re overwhelmed with the support from our community and we’re so proud to be growing Mogul globally with you all. There have been frequent questions in our community in regards to timelines, potential extensions, and the future plans for Mogul and we wanted to answer everyone’s questions in a concise post for our community.
We will be extending the Access Pass Sale and the unlock schedule by 1 week, which brings us three updated, upcoming dates:
- End of Access Pass Sale: April 15th
- Token Unpause: April 22nd
- Mogul Growth Farming: April 22nd
The updated dates of these events will be reflected in our Litepaper and on our Website within the next 24 hours.
Timelines that are communicated to our community are incredibly important to us. Mogul is a product-driven company and our development team is working hard to aggressively ship product features for our 35 thousand+ users every week. For that reason, we want to be transparent behind our decision to push these dates by 1 week:
Smart contract audits can take a lot of time and auditors are currently very backed up
Security of our users is our number one priority. As a product-driven company looking to disrupt one of the largest industries in the world we cannot “test in prod”. Once a smart contract is deployed, they are immutable, and a vulnerability can be incredibly costly to our community and Mogul’s growth. Nearly every week in the blockchain industry there seems to be a smart contract exploit, and that’s why we’re doing everything in our power to make sure that each contract we deploy passes a thorough audit. So far, we have scored perfect scores on our existing audits.
DeFi and NFT auditors are in high demand right now and there is a backlog of audits waiting to happen. Our staking contract “Stars Master Chef” is currently in audit and we’ve been assured that it will be complete by the new date outlined above.
Secure, audited smart contracts are a priority for our team and need to be a higher priority than speed to market to make sure that Mogul is set up for success in the long term and our reputation as a product-driven, audited platform is kept intact.
What is STARS Master Chef?
STARS Master Chef is a staking contract, forked from the SushiSwap codebase, where STARS holders and UNIV2 STARS/ETH LP holders will be able to stake their tokens within a pool on the Mogul platform to earn more STARS. This campaign will allow us to grow the Mogul user base and community by tapping into the Uniswap community; creating a stronger network for Mogul to harness the Power of the Crowd when making movies. More details will be shared about this contract this week, but the rewards can be found in our One-Pager here.
The delay in the audit has nothing to do with our codebase and is a result of the industry’s best auditors being busier than ever due to the immense growth in the blockchain industry.
Film industry users need more time to purchase Access Passes
We have received many emails from film industry professionals trying to purchase Access Passes that are having trouble purchasing Ethereum for the first time. It’s taking more time than they realized for them to onboard to cryptocurrency given the current on-ramp solutions. Extending the Sale will give these industry members more opportunity to participate in the Access Pass sale. We’re grateful to have such support from the film industry and demand to use STARS tokens on the Mogul platform to perform actions like submitting scripts for financing consideration.
To make it easier for film industry users to onboard to blockchain in the future, we’re taking the following measures:
- Deploying the platform onto Polygon for instant transactions
- Integrating Biconomy for gasless transactions so that users can transact for the first time without having to purchase Ethereum
- Engaging directly with payment processing companies, such as Sendwyre and Transak, so that we can build the option to buy cryptocurrency directly within the Mogul platform
Another frequent question in our community has been: “what will happen to the Access Passes that go unsold?” It is premature to speculate that Access Passes will go unsold, but if they do, the STARS tokens included in the passes will be allocated to the Mogul Ecosystem Development Fund to grow the Mogul user base with tiered access to the tokens. This allocation of tokens may be used for activities like the following:
- Referral program bonuses
- Voting bonuses to our users
- More staking bonuses
- More tokens used for the early adopter distribution program
Some tokens will remain in the “Top Up” tier on the platform to allow users who need a small number of tokens on the platform for specific actions to easily purchase them. For example, purchasing the tokens necessary to submit a script.
Together, we are trying to positively disrupt one of the largest industries in the world through more transparent funding opportunities and the power of the crowd. We are planning unique strategies to onboard the masses from the film industry to the Mogul community. This includes film fans, financiers, and creative talents (writers, directors, producers, and more). We have already had an outpour of support from the film industry as you can see by these videos.
To celebrate the support from our early community members, we have a really exciting announcement that we will share later today about offering physical versions of the NFT Access Passes to our early users. Stay tuned!
Also stay tuned for more strategic partnerships to be announced before the end of the Access Pass Sale just like our most recent announcement with GD10 Ventures.
Remember that right now the Mogul platform is live and the movies on our platform are listening to your feedback and support, as the creators have mentioned in their latest Telegram AMAs.
On the Mogul platform, you can currently customize your profile, create an industry account with your filmmaking experience, submit your scripts and projects for financing consideration, show your support for the movies in the Showcase through likes and comments, and engage in the community by commenting on the industry (and Mogul’s) latest news and updates in our dedicated community section.
On April 29th we will be having the auction, on the Mogul platform, for the Rob Prior NFTs and will continue building out our NFT marketplace to have even more capabilities after the event.
Thank you all for your early support.
Sincerely,
The Mogul Team
About Mogul Productions (Mogul)
Mogul Productions is a decentralized film financing (DeFiFi) platform that connects creators, movie fans, and film financiers in one space to ensure the best films get made by giving everyone a voice. By leveraging blockchain technology, NFTs and a tokenized system, Mogul incentivizes participation and rewards engagement. Using the Mogul in-app payment and utility token (STARS), users can vote on, greenlight and participate in key decision-making aspects of production.
Website: https://www.mogulproductions.com/
Twitter: https://twitter.com/we_are_mogul
