The big GMC24 Migration

Dear MoonCat Community,

Firstly, we want to thank everyone for their amazing support during the GMC24 launch. We love being a part of the MoonCat Community and have been delighted to witness the interest in GMC24 along with the fantastic work that ponderware and the community have done in the past few months to continue building upon the MoonCats’ story.

We have some exciting and important news for the GMC24 project: We are moving to Unicly! Please read on for information about this migration and the upcoming governance vote.

When we originally launched, we chose to use NIFTEX for their track record of successful fractionalizations, innovative technology, and plans to grow and scale their platform with the launch of a governance token in the coming months. Unfortunately, some of their plans including a governance token have been delayed, so we have elected to seek alternatives. With Unicly another fractionalization platform with a governance token has risen to prominence with a strong community of NFT-enthusiasts and multiple high-quality collections of rare and collectible assets.

Unicly offers the following benefits for collections on their platform:

  • Higher liquidity for fractionalized collections as a result of yield-farming incentives
  • Improved discoverability of popular NFT collections
  • A large community of NFT collectors and investors
  • Platform governance through their UNIC governance token
  • Yield Farming of UNIC for liquidity providers of whitelisted collections (and we are working to ensure GMC24 will be included in this whitelist!)

As the stewards of the GMC24 project (cat-sitters, if you will!), we strongly believe that these factors will be highly beneficial for everyone who holds GMC24, and thus we believe it is in the best interest for everyone involved in the project to pursue this migration.

We are planning to issue a governance vote to withdraw all 24 Genesis MoonCats from Niftex and move them to a Unicly vault. Based on the NIFTEX governance settings, token holders will have 5 days from the initial release of this proposal to accept or reject it, and anyone holding over 3% of the supply can reject the proposal during this time period. This means that, as significant GMC24 holders, ponderware will be able to reject this proposal if they believe this move is not in the best interest of the community, or support it if they agree with our conclusion that this will be beneficial.

More details about governance and NIFTEX’s voting process can be found here: https://docs.niftex.org/governance/tutorials

Assuming the vote is successful, the 24 Genesis MoonCats will be withdrawn from Niftex’s vault, moved to Unicly’s vault, and refractionalized on Unicly with the exact same total token supply: 10.000.000 uGMC24.

Afterwards, holders of GMC24 will be able to swap their GMC24 for the uGMC24 token in a 1:1 token swap on a website that we create especially for this purpose. The website to perform this swap will be shared in a future update, once it is ready.

More details on the launch with Unicly will be released in the coming days. We will be working with Unicly to bring uGMC24 to new communities across the NFT and DeFi ecosystems, and have more exciting things planned already that we will cover in our next update.

We look forward to the next step of this journey together, and we hope you will support our proposal to move to Unicly and bring these 24 Genesis Mooncats to a wider audience!

Sincerely,

RedCave Ventures