MultiVAC the 30th Bi-Weekly Report: The Foundation Burned 2 Billion ERC20 MTV for Rewarding Miners after Mainnet Launched

5 min readSep 9, 2019

Welcome to MultiVAC’s Bi-Weekly Project Report for the past two weeks. If you have any questions or suggestions, please feel free to send your feedback to core@mtv.ac.

Key Progress

1、MultiVAC double profits plan ended and officially opened BEP2-ERC20 two-way swap;

2、The foundation burned 2 billion ERC20 MTV tokens for rewarding miners after mainnet launched;

3、Completed the Testnet 3.0 function joint debugging and fixed the found bug;

4、MultiVAC cooperated with LBank, ARPA to hold ‘LBK Blockchain Conferences in 100 Cities’ in Chengdu;

5、MultiVAC with Jiangsu’s local government improve rice traceability using blockchain tech;

Technological Progress

Base-layer System
1. Completed the development of the storage node incentive mechanism and conducting stability testing;
2. Completed the Testnet 3.0 function joint debugging and fixed the found bug;
3. Completed the development of the Testnet 3.0 deployment script;

Smart Contracts
1. Performed the joint test of the smart contract function and optimized the account update logic;
2. Optimized the refresh logic of the smart contract database to make data interaction more efficient;
3. Embedded EMCC into MVVM to facilitate developers to compile code on virtual machines;
4. Integrated the backup phrase and Keystore into the offline generation tool to facilitate the user to save the MultiVAC account;

Browser and Others
1. Completed the browser’s adaptation to Testnet 3.0;
2. Optimized the bidirectional SWAP function of BEP2-ERC20;

Mining Progress

Apply for Mining Whitelist:http://mtvmining.va.mikecrm.com/E91WWVV

Query reward: https://e.mtv.ac/#/home
Query reward ranking: https://e.mtv.ac/#/network
Official deposit address: 0x7F7EBDBf85028Bb6Cd8fb078f5aD89Dd162868c6

Community Progress

1、MultiVAC Double Profits Plan Ended and Officially Opened BEP2-ERC20 Two-Way SWAP

The double profits staking event held by MultiVAC in joint with the Binance DEX has ended on August 27th, 2019. And the lockup period is 36 days from 16:01 UTC on August 26. From now on, the token bridge has been released. And a two-way swap between ERC-20 and BEP 2 are available for everyone.

2、MultiVAC Foundation Burned 2 Billion MTV

Holding 27% of the total amount of MTV, MultiVAC foundation decides to burn 20% tokens (2 billion MTV) on August 29th, 2019, and only keep 7% of MTV which were already released. And the 2 billion MTV burned will apply to the mining rewards after mainnet launched.

Burn 1.98 billion:
https://etherscan.io/tx/0x6adfd5d40ed7d59d931fef5e0fb896d5d0e79becec0d6443f2b1639d9f111dc1
Burn 20 million:
https://etherscan.io/tx/0x7dd76b64180e46e4f9da413e7a6359f0dc60c8a035a08d590848c2c7b120560d

3、Over 2 Million MTV Mining Rewards in the Fifth Phase Have Been Distributed

MultiVAC foundation has distributed all buyback-mining rewards in the fifth phase on August 30th, 2019. The total deposit has surpassed 20% of the circulating supply since MTV mining activity held for three months.

4、Hoo.com Launched MTV Lockup and Cash Back Program, Annual ROI Up to 80%

Hoo.com launched MTV lockup and cash back program, and the annulal ROI is up to 80%. The lockup period is 66 days, from September 4th to November 9th, and the profits and principal will be released on the day of unlocking.

5、MXC Launched “Locked PoS” for MTV, with 20 Million MTV Hard Cap

MXC launched the “Locked PoS” program for MultiVAC on September 5. The hard cap is 20 million MTV. The locked period is 60 days, and the annual ROI is 95%.

6、MultiVAC Cooperated with LBank, ARPA to Hold ‘LBK Blockchain Conferences in 100 Cities’ in Chengdu

MultiVAC cooperated with LBank, ARPA, and other influential institutions and communities to hold ‘LBK Blockchain Conferences in 100 Cities’ in China on September 5. MultiVAC CEO Frank delivered a keynote speech in Chengdu (a capital city in Western China).

7、MultiVAC and Jiangsu’s Local Government Improve Rice Traceability Using Blockchain Tech

MultiVAC has officially partnered with Sheyang county, Jiangsu province (an eastern-central coastal province with the second-highest GDP in China) to launch the blockchain food traceability project ‘Sheyang Rice’ on September 6. MultiVAC will contribute its all-dimensional sharding tech to support this project; all data (like production & processing, logistics, sales, etc.) in the supply chain will be better tracked and recorded on the blockchain to ensure maximum transparency and authenticity. Supply chain management & production performance will be increased vastly.

About MultiVAC

MultiVAC is high-throughput flexible blockchain platform based all-dimensional sharding. It’s a next-generation public blockchain platform built for integration with large-scale decentralized applications (dApps). MultiVAC is developing the first solution in the world characterized by speediness, efficiency, and all-dimensional sharding to expand its capacity in computation, transmission, and storage. It realizes the maximum throughput while maintaining decentralization and without sacrificing security.

At the same time, MultiVAC pioneers flexibility for DApps to trade-off freely on the impossible CAP triangle between decentralization, performance, and security, supporting large-scale decentralized commercial applications for complex and diverse business requirements.