Monkey (MNY)

This will contain information about the MNY token

The First "Pregnant Token"

Monkey Capital created the eponymous Monkey token and gave it the symbol MNY. While MNY does fit the original name Monkey, it is no accident that phonetically it sounds like "Money," and, in retrospect it is clear that Monkey Capital had plans to make MNY into one of the fundamental currencies in the cryptosphere.

MNY was the first described "Pregnant Token." That is, the initial concept was that MNY would spawn other tokens. The notion that ownership in one token granted access to future tokens was another Monkey Capital Cryptocurrency First. However, the model was imperfect. The Monkey Capital model for the family of tokens was forced to rapidly evolve during mid 2017 as regulations in countries around the world were developing (and, at times, in conflict with their own regulations and the regulations of other nations). As such, the "Pregnant" token was sometimes conflated with a "Parent" token. Lastly, as noted in the section on COE, MNY was granted to the owners of COE at at 1:10,000 ratio. Money Capital realized early on that the potential to create leverage on top of leverage was a creative and inexpensive model for a cryptocurrency entity in early development. For example, sale of COE provided startup capital for Monkey Capital to reinvest in the development. From the buyer's pop, purchase of COE let to 10K MNY which further led to opportunity to either receive future tokens at no cost or participate in other token issuances at significant discount. Monkey Capital had magnified the potential for current discount to future value.

Release:

MNY was first released on the Waves platform in late July 2017. Initially it also received a "green tick" and, like COE, many "scam coins" were released by duplicitous characters. As MNY began trading it was listed on coinmarketcap.com and, for a brief while, both COE and MNY traded in the top 100 tokens by marketcap.

However, as was the case with COE, conflicts in the relationship with Waves led to MNY losing the "green tick" status, the feed to coinmarketcap was lost, and the asset declined.

MNY continued to trade on the Waves exchange through October of 2017 and was then bought back and separately reissued for Ether based MNY that fist traded on the HitBTC exchange.

Buyback:

MNY underwent a buyback and separate issuance for Ether based Monkey assets, PRE (ether based) and MNY (ether based) at the rates of .00465 PRE and .005018196 MNY.

Staggered Release over 999 Years:

As MNY was one of the assets that was released in the context of difficulty with Waves green tick, numerous conflicts with crypto personalities, and widespread FUD, it was not clear whether MNY had been appropriately distributed among the community or whether it had been hoarded by bad actors. As result, Daniel M Harrison threatened to put the MNY buyback and release on a 999 year drip.