The future of exchanges is de-centralized and nobody can stop you from using DEX to trade modum.
Modum is a very legitimate project and isn't going away anytime soon. Unlike 99% of all shitcoins out there, Modum actually has a working product and is going commercial as we speak.
Modum holders are entitled to dividends once Modum is profitable.
The value of Modum, as opposed to other coins, is derived from its potential future profitability and dividends. Other coins' value is derived from hype and excessive trading activities.
People need to chill out and sit back. During the next bull market modum will make a gigantic comeback.
MOD has never gone through a Security Token Offering. An exchange that would list STOs would not list MOD because it hasn't gone through the proper KYC and STO procedures. Someone correct me if I'm wrong.
Don't know. But I think you confuse the security token – I partially do to by saying STO. What I really meant is security tokens in general, not just those that have gone through STO. Modum defines MOD as asset token, which in the US, we called it security token. SEC has no business with Modum.
In essence, any exchanges that are able to list security tokens would be able to list MOD.
Modum as a company is fine idea, but the coin has no place in their ecosystem, it is essentially useless.
It would be interesting to buy real shares of the company if that would be possible, but not the coin.
I know and it is sad that this is the only "usecase" for the token. It is essentially not needed at all. It has no impact on the operations of the company. What would happen to modum if the coin would disapear?
The coin entitles you to dividend payouts and voting rights but it is absolutely not a share of the company. That's what the token has been criticized for... Not having the legal protections of actually being a share holder.
The "voting rights" are limited and almost nonexistent since you can't decide anything about the company itself; the dividend payout is nothing more than a promise and again, a normal shareholder would get more than a reduced percentage of the overall profits... Also there are no legal protections
It doesnt say in the whitepaper that a ”reduced percentage” of the profits go to the token holders. It says ”the profits”, i.e. all, if there will be any in the future. And in the legal profession, the majority tends to say that a whitepaper is binding the company vis a vis the token holders. If they dont adhere to their promises, this will go to court.
Well there are a thousand ways to get around that, even assuming that you are right and that they are not allowed to change their whitepaper at will (and they are).
They are going of course to spend some profits for research and development and they will definitely keep something for future expenses and to buy what they need, other than that their managers and their staff will surely get paid and you have no voice at all in all of that because you are not a shareholder.
They will decide when and if to release any dividend to you because they own the company 100%.
Yeah no. Won't happen, they simply won't pay dividends, easy as that. They could also get bought by another company with a shitty licensing model like Starbucks does it, i.e. Modum has to pay so much licensing costs to the owner that nothing is left for dividends. Et voila...all token holders are screwed. Furthermore, they already have collected enough money, so they can just ignore the token value completely. For the future, MOD has failed...
The funny thing is.... what happens if mod is delisted from every exchange? The token is dead but Modum owns you nothing.
But that would already go into fraudulent territory. We are not there yet.
Now it is anyway too late to sell so I will keep following the show. First question is whether they get any customers anyway. Otherwise this discussion is pointless. And if there are, it remains to be seen how they will handle it.
Damnit destroyed quite a bit of money with this coin. I even increased my position during the last months because i hoped for first customers during first half of this year and a potential recovery... i was too naive. The very bad interaction with the community should have been a warning sign.
No it isn't, there are a lot of competitors with a better position in the market even if we only consider the crypto world.
You don't have any right to get your profit share and I'm not seeing any serious investor deciding to buy a coin with the promise of some profits one day instead of a share of a company in the same field with clients, voting rights and legal protection
What is there other than Modum? I also hold TE-FOODS, which I think is a good project. Does Walton count? They do supply chain but a lot of other stuff too, and I have a very big position with them. Any others you'd recommend? I think I'll take my loss with Modum before it goes to zero and move whatever is left somewhere else.
It's a security and to be honest it's a worse version of a share, you have a piece of the company without any legal right or voting right... Add to that there is no volume and no general interest and you'll get why this is getting delisted
Binance just announced that they intend to delist the MOD Token. Unfortunately, we were not pre-informed by Binance about this decision. Our team is in contact with Binance to fully understand their motivation. We will keep you up to date.
The potential delisting from Binance does not affect the listings on other exchanges.
Not just volume community is so badly manage ..ICO is more like community stuff. but modum behave like some private company ...we dont have enough interaction with MOD team , now its a security can we expect it in BITTREX or POLONIEX overall no sorry
The Modum team has always treated the tokenholders like shit. This is more of the same once they raised money through the ico they only needed to get rid of the tokenholders they have been working on this since the beginning they hated how the token raised in value but they have achieved their mission the token is gonna be worth shit now and they are gonna buy it all in the open market once the tokens are back in their hands they are gonna promote the token value and get double rich. Switzerland Hustle.
It's so poorly handled by Modum. As I said before, they don't have a big interest in the token value. They can sell all their tokens and never ever pay out a dividend but raise their employees salary as much as they want. This token model is completely bullshit, I just noticed too late.
Check out Lykke as a comparison, you really get a stake in the company, not only dividends.
Any ideas with respect to those points shown why? It's not the most active community but it still actually feels like a 'legit' project relative to many others out there in terms of actually doing something in their field.
"When we conduct these reviews, we consider a variety of factors. Here are some that drive whether we decide to delist a digital asset:
Commitment of team to project Level and quality of development activity Network / smart contract stability, Level of public communication Responsiveness to our periodic due diligence requests Evidence of unethical / fraudulent conduct Contribution to a healthy and sustainable crypto ecosystem"
There's other projects with lower volume, don't think it's that.
I checked with customer support, they send 1 generic reply, pretty much what they say on their page and when I asked for what the specific reason was (Modum not fraudulent, has a working product and customers), they replied: "Sorry."
Ok then, the largest exchange delists projects without a fair reason.
Yes, an official statement should be made!!
Did Modum pay a listing fee to get listed on binance? Isn't that quite a lot? Not sure how compliant this binance listing and delisting is. I guess not at all.
Yeah you're probably right. It's a shame as being traded on binance was one of the big positives accessibility wise. The company can still do well, but I doubt there will be as much interest unfortunately.
That was something I did wonder about in the past but assumed it was 'sorted' if it had been listed. Perhaps not..! That or just low volume, and unfortunately as things are it's unlikely it sees anything special until general sentiment turns.
In fact, the potential reasons for delisting are on the link:
* Commitment of team to project
* Level and quality of development activity
* Network / smart contract stability
* Level of public communication
* Responsiveness to our periodic due diligence requests
* Evidence of unethical / fraudulent conduct
* Contribution to a healthy and sustainable crypto ecosystem