Launch Timeline Update
We want to provide you with an important update regarding the launch of USDM — Cardano’s *highly* anticipated fiat-backed stablecoin.
As we’ve been diligently working towards the launch, we have encountered several exciting opportunities for enhancements that will significantly improve the stability, security, and overall user experience of USDM.
While we are thrilled about these developments, they have naturally increased the time required to audit and test these new security features. This will push launch beyond our mid-December target. We will keep the community informed as our timeline continues to evolve.
Our development team has been working non-stop to enhance the functionality of our stablecoin. These enhancements will provide greater transparency, improved scalability, and unique features that will elevate the USDM user experience.
To ensure the utmost security for the Cardano Community, we are engaged in a comprehensive smart contract audit with Sundae Labs.
We are committed to delivering a stablecoin that meets the highest industry standards regarding security and reliability. This process takes time, but it is crucial to ensure the safety of your assets.
Rigorous testing is an integral part of any successful product launch, and we are conducting extensive testing to ensure that USDM functions flawlessly in real-world scenarios. “Measure twice, cut once,” is how the saying goes. But in blockchain there are no second chances, so we are measuring at least ten times!
This testing phase is vital in identifying and addressing any potential issues before USDM is live, and these steps will ultimately result in a more robust and reliable product.
Our commitment to transparency, security, and innovation remains unwavering. We want to express our sincere gratitude for your continued support and patience during this process. Your trust in Mehen is what drives us to deliver the best possible product.
Regulation CF with ChainRaise & Tokenized Equity
I am thrilled to announce that we are terminating our relationship with WeFunder and moving our Community investment round to ChainRaise, a platform that enables equity tokenization. This move better aligns with our vision and mission. All WeFunder reservations will be canceled and fully refunded.
Why ChainRaise?
Like WeFunder, ChainRaise is a member of FINRA and an SEC-registered Crowdfunding Portal that has helped numerous startups raise capital in Reg CF community investment rounds.
ChainRaise is also a blockchain-friendly company that values the contributions of people who are building on Web 3.
By going to ChainRaise, we unlock the possibility of tokenizing our equity, which would not have been possible if we completed our Reg CF raise on WeFunder.
What does this mean for Mehen?
Partnering with ChainRaise allows us to continue this community investment round, which provides us with the resources and environment to enhance our launch of the USDM fiat-backed stablecoin.
It also unlocks our roadmap to begin tokenization of equity on the Cardano blockchain.
After the Reg CF raise has been completed, Mehen Innovations Inc. will have the option to tokenize these shares with one of two companies that already tokenizes equity on other blockchains. We will choose between them, and onboard one of them to Cardano as a strategic partnership with our MaviKai platform, which will be a subsidiary of Mehen Innovations Inc.
Mehen will hopefully be the first of many companies tokenizing its shares on Cardano. This transition will make it easier for a broader range of investors to participate and invest in our vision, and will give our shareholders the additional flexibility of tokenization.
This partnership will unlock the potential of equity tokenization for other projects on Cardano, and will be a significant step forward for the Cardano DeFi ecosystem.
This is scheduled to go live in the middle of 2024.
What do investors need to do now?
Your support has been instrumental in our journey so far. As we transition to ChainRaise, we want to assure you that your belief in our vision holds immense value to us. We are committed to ensuring a smooth transition and will provide detailed information on how you can continue to be part of our growth story.
All investments and reservations made on WeFunder will be canceled and fully refunded. If you are still interested in investing in Mehen Innovations Inc, you will need to register your interest on the ChainRaise site instead.
In the coming days, we will have a marketing page like this one available on the ChainRaise platform, and we will send you further details via email
Looking Ahead:
This is more than just a change of platform; it’s a strategic acceleration of our 2024 roadmap. With ChainRaise, we are better positioned to tokenize equity and make a meaningful impact in the Cardano DeFi landscape.
We understand this change may be inconvenient and you may have questions. Please reach out on Twitter or Discord with any you might have.
Your confidence and investment in Mehen Innovations Inc. are not taken for granted. We are excited about this new chapter and sincerely hope you will join us on this journey with ChainRaise.
Thank you once again for your unwavering support. We look forward to achieving great things together.
Warm regards,
Jillian Plomin
CEO, Mehen Innovations Inc.
