Polymoon/Mooncharts Merger into Lightning
Lightning is absorbing PolyMoon’s charting platform (MoonCharts) as a roadmap item. Development of the charting platform will be continued and released upon completion. However, the current focus of Lightning remains to be the DeVC network dApps.
All PolyMoon holders will receive $LIGHT tokens (at the equivalent value from the first snapshot on July 4th, 2021). PolyMoon liquidity will be partially migrated into Lightning.
Current Lightning holders won’t suffer any losses from this, since all distributed tokens will be bought rather than simply distributing parts of Lightning’s Development Funds.
Introducing: Lightning Charts.
There are various reasons why we have decided to integrate the charting platform into Lightning, instead of relaunching it as an IDO pool within the platform as initially planned.
- Price action
The proposed Mooncharts IDO would have to start at over $2million market cap. Speaking from experience, it is both harder and less beneficial to 10x a charting tool from $2m than it is to 10x an incubator and launchpad from $6m.
- Development times
Unfortunately one of the issues we have encountered during our build is a longer than expected development time. We have already taken great strides in developing the platform, but at this time we do not know how much longer it will take to complete 100% and do not want to delay the initially planned relaunch any longer. This is also backed up in our next point.
- Rewarding holders quicker
As stated at the start of the article, we are deeply appreciative of the patience shown by our holders during this development phase. Instead of asking our holders to wait any longer, we think it is better than they reap the rewards of our already operational and ever improving launchpad sooner.
After careful deliberation with the team and our advisors, we feel the below benefits greatly outweigh any potential negatives of the merger.
Rather than splitting liquidity across the projects, they are unified to create a stronger platform and network.
- Shared Yield
Another of the core themes across both projects is shared yield through platform revenue. By combining the incubator, launchpad, and charting platform, holders will receive higher and more stable yields through staking, distributed in BSC’s base token (BNB).
- Increased $LIGHT holdings
As many of the PolyMoon holders are also $LIGHT holders, this allows them to benefit even more. Everyone who holds PolyMoon receive $LIGHT instead, potentially moving holders up into higher tiers and allowing them to benefit more from future pools.
- Instant Access
Holders will now get access into the Lightning Incubator and Launchpad, ahead of our next pool opening this month. The next Incubated project will also be on Polygon, which makes it a great first pool or current PolyMoon holders.
- Increased opportunities
Instead of waiting for MoonCharts to launch, holders will now have access to pools to potentially benefit from, thanks to the Lightning Incubator and Launchpad providing the network and architecture to offer these pools.
Info about the switch
A second snapshot of current PolyMoon holders will still be taken as planned once Tokens have been liquidated.
Those who hold during the second snapshot will be airdropped the $ value of their PolyMoon holdings in $LIGHT equivalent to the $ value of their PolyMoon holdings during the first snapshot.
Holders will have to fill out this Google form to be eligible: https://forms.gle/FWGvnTNL2GdvcLHN7