# Important update from Moxey | Moxey

- Canonical URL: https://wefunder.com/feed/178430
- Entity ID: wefunder:feed_item:178430
- Published at: 2024-12-26 14:50:19 UTC
- Updated at: 2025-09-11 14:30:30 UTC

## Author
Charlie Davis

## Subject
Moxey

## Content
We’re pioneering an entirely new revenue model across all of south Louisiana. This change will help our network grow faster while providing more value to our customers.We’ve replaced our 10% USD commission with a small 3% fee in Moxey. This change makes a Moxey transaction even cheaper than a traditional credit card, enables more businesses to join the Moxey network, and opens our community-backed currency up to entirely new use cases.Ironically, we’re implementing an idea we’ve dreamed about for many years, though exactly how we got here, at this moment in time, is bittersweet.Here is the quick, and unfortunate story, of what made this change happen. In early November we woke to find that two of our largest communities (PartnersOne and iTradexchange) had worked during the middle of the night to download data from our system, and then imported that data into another platform outside of the Moxey network.We later learned that they worked in secret until 4am to pull this off.Moxey had multiple contracts with the groups that should have prevented this: primary contracts with both organizations, terms & conditions agreements with each individual user, and non-disclosure and non-compete agreements with the community staff.Partly because of the contracts, but also because we had worked together for more than a decade and trusted them, they had access to our system. Because of the breadth of our longstanding contracts, we felt that we had a strong likelihood of winning in court.However, after a preliminary injunction hearing, the judge ruled that the communities managed their respective members accounts, disregarded parts of our non-compete agreements, found our terms & conditions to be unenforceable, and ordered Moxey, among other things, to turn off those accounts, and even to not contact the businesses that had been on the Moxey platform. After filing a motion for a new trial, we chose to settle the lawsuits and get the restriction on contacting businesses removed.Because of the court ruling, the intense network effects that we created, worked against us.This is a real loss to hundreds of business owners who aren’t currently able to participate in the Moxey network, and a significant but temporary setback to our network. Prior to this event, we were processing 10,000 transactions a month, and preparing to launch into new markets.We’re still launching into new markets, but now also rebuilding the local Moxey network in a way that will make it even stronger than before.Our business model is as sound today as it was last month, and the fundamental changes that we are making to our company will allow even more businesses to benefit from Moxey.We’re looking forward to working with small business owners across the country to help them thrive!Sincerely - Team Moxey