Latest Project Update

14th November 2022


Bullet Points

  1. Update on the Vale stage release.
  2. Update on the Baldur stage release.
  3. Liquidity on Uniswap.
  4. HIPS payment focus change.

Major components of the MTO ecosystem.

MTO's ecosystem is made out of three major components and when they start working together, will allow consumers and merchants to make fast, decentralised transactions with the peace of mind that consumer protection brings, using any cryptocurrency.

These components include:

  • Merchant Token Payment Gateway (MPGW). This is the protocol that will add consumer protection to the payments made using crypto.

  • The Merchant Wallet will allow the storage of cryptocurrencies and simplify the transaction process and user experience between the consumer and the Merchant.

  • The Merchant Token Blockchain (MEO), will be the core of the ecosystem, and where all the transactions will be processed, this will be the last piece of the ecosystem to be built.

1) Update on Vale Stage Release.

Vale is the Early Alpha stage of the MPGW. it is now ready and we're simply waiting for the developers to be far ahead with the development of the Baldur Stage so that we won't give potential competitors any advantage after releasing the source code.
It will be unveiled in the next few weeks on a YouTube Livestream with Victor, John and Axel. The specific date is yet to be communicated.

2) Update Baldur Stage Release:

Due to delays on the development of the MPGW, the Baldur Stage which was meant to be released in late 2022, has been postponed to early 2023.
Baldur is the Vale stage (or Early Alpha), with extended functionalities, however there's a possibility that we might add even more development to this stage and therefore the release date could change again.

This delay however does not impact the next Stage Frigg as it consists of a different part of the ecosystem and we expect it to be released in late 2023, but as always, this could also change in the future.

3) Uniswap Liquidity:

Due to fluctuations on the price pair ETH/MTO, the secondary Liquidity added to MTO back in November fell out of range.
The liquidity left was enough to trade at current price levels, however some community members were not happy with the price impact on single transactions, so we decided to increase the range of the secondary liquidity on the ETH/MTO pair.
MTO liquidity since November has been roughly 7% of the circulating supply which is enough for trading the token on the DEX.

4) Changes In the HIPS Payment System

HIPs has made an independent decision and is switching focus from traditional payment systems to a cryptocurrency payment system. HIPS remains the biggest token holder and has a stake in MTO success. It will take time for implementation but every merchant that joins HIPS will have crypto enabled POS as a mode of payment. HIPS will build their ecosystems on the MTO/MEO platform. And being DAO, will enable holders to build dAPPs on the MEO blockchain.

For the full Project update video check the link below.