Marketplace Status Update
With regards to the Marketplace delay, we have prepared a detailed explanation of what happened during the supposed day of the Monsta Sales release, what we are currently doing to handle the issue and how we can entirely avoid a similar issue in the future.
Once again from the bottom of our hearts, we would like to apologize to our community for the incident that happened and would like to reassure you that we are doing our utmost best to ensure that the Marketplace would be running smoothly as soon as possible.
What happened?
On 22nd October 2021, hours before the expected release time, we were already analysing the traffic entering the Marketplace and saw a worryingly increase in the traffic spike, so the developer team made a unanimous decision to extend the release to a later time to prepare the Marketplace infrastructure to accommodate for the traffic spike.
By the 2nd release time, we were already prepared to accommodate the traffic spike that we suspected would accumulate during the first delay. But when we released the Marketplace, it had undergone a tremendous traffic spike again, reaching over 103 million requests, as recorded by our service provider. From our conversations with their senior management, we were notified that the traffic spike has reached a standard similar to Facebook’s regular traffic requests.
This tremendous traffic spike caused the Marketplace to instantaneously crash, with all of our nodes crashing along. We knew that there was no way to salvage the situation in a short period of time, so we had to revert to a difficult solution based on the circumstances, which is to reschedule the Marketplace release until further notice.
What is the Developer Team Doing To Resolve This?
We are currently expecting to utilize more than 1,000,000 USD in cost estimation to not only resolve this issue but to ensure the smoothness and longevity of the user experience of our project to the community. We want to develop a platform that our community will feel safe and secure in performing any transactions, whether it is for the Monstas or the MONI-STT Liquidity Pool.
Currently, we have upgraded all of our servers to better servers utilizing machinery with improved capabilities. We were also able to recover the server that was responsible for the display of the MONI balance in the Monsta Wallet.
Rest assured that all of the blockchain data, inclusive of your MONI balance and transaction records are backed up in real-time and is safe and secured. We also ensure that all of our blockchain nodes are not stored in a central server, instead, they are diversified and stored in multiple service providers. This measure is to ensure that the data will not be lost due to a single server failure.
We would like to emphasize that we are doing our utmost best to resolve all issues regarding the Marketplace, and would still go forward with the motion of releasing both the MONI-STT Liquidity Pool and the Monsta Sales simultaneously. This is to ensure a constant supply and demand of STT in the Liquidity Pool to avoid inflation on the value of STT, ensuring the low-cost entry we promised to the community.
When Will The Marketplace Be Up And Running?
We estimate that we will be able to resolve the Marketplace issue by the 28th of October 2021. We have collected various feedbacks from the community-based moderators and has placed a target date to open the Marketplace to the public on the 29th of October 2021 as it will be on a Friday which is more appropriate for our community.
An official date will be announced again 24 hours before the exact launch of the Marketplace so make sure to check out our official social media platforms for more details.
We also plan to open the Marketplace as a view-only site for the community on 27th October 2021 at 14:00 pm GMT+0, to allow the community to be accustomed to the Marketplace as well as helping the Developer Team to analyse the traffic requests.
Side Note
Since the very beginning of this project, Monsta Infinite has thrived to be a community-oriented project, and we take pride in this stature. We want to ensure our community that as a MONI Holder, you would reserve the rights as a stakeholder for Monsta Infinite, just like shareholders in a company. Therefore, we are currently looking into ways we can incorporate our community into the development of the Marketplace.
One of the methods would be releasing a Testnet for our community to help us in performing a stress test onto our infrastructure as well as hosting a bug bounty reward for those who can help us track and locate any bugs in certain Monsta Infinite-related events in the near future.
We are also looking into making some of our features to be open-source, which will allow the programmers in our community to be involved in contributing to the development of Monsta Infinite.
We would want to clarify that as our main priority would be to resolve the Marketplace issue, we will have to reschedule the Mini game feature release to a later date with the official time and date to be announced soon. But rest assured, the bridging feature of MONI from Monsta Chain back into Binance Smart Chain will be available after the Marketplace launch.
Ending
We would like to emphasize the fact that all MONI holders are stakeholders and are a part of Monsta Infinite, just like shareholders for a company. Therefore the success of Monsta Infinite will rely on both the responsibility of the Developer Team and the community of Monsta Infinite.
We understand that there are disappointment and frustrations amongst the community, and spreading anger, hate, frustrations and FUD may seem like a viable option at the time. But as much as it may be intended to hurt the Developer Team, it will only hurt yourself, a stakeholder as well as the rest of the Monsta Community.
Similar to any other conventional company, stakeholders should play their part in supporting their investments and help cut down any conflicts, which in our case would be FUD, rather than adding on to the damage of any unfortunate events.
It would not require rocket science knowledge to be aware that any FUD wouldn't be positive criticism to a company. In simpler terms, when an individual spreads or creates FUD, they should not be deemed an ally to the company, as it will only negatively impact the project instead of adding them get back on the track of success.
On behalf of the entire team of Monsta Infinite, we would like to extend our deepest apologies in regards to this issue and would like to express our heartfelt gratitude to our loyal community for being patient with us, seeing through this project through the thick and thin.