[ANN] Vites swap to own blockchain with Nist5 PoS (20% staking rewards) started

[ANN] Vites swap to own blockchain with Nist5 PoS (20% staking rewards) started

We are pleased to announce the development for the new Vites coin is ready. Accordingly, we are going to 1:1 swap to our own blockchain.The following reasons to swap to your own blockchain are:- the possibilities to stake the new PoS coin.- the new coin offers more stability. The current coin is a Waves assets. It’s platform was in a beta phase. During this period we experienced a lot of nuisance from the assets. Recently it has gone out of beta, but there still seem to be a lot of problems.Stocks.Exchange (https://www.stocks.exchange/) will facilitate the swap. This means you have to send all your coins to the Vites wallet of your Stocks.Exchange account. Please note that it is required at Stock.Exchange to have Waves in your account for receiving the Vites tokens. If you are sending your Vites tokens without having Waves in your Stocks.Exchange account they might arrive with much delay.The swap runs from 17th of August 2018 to the 17th of September 2018. This means the 17th of September 2018 is the last day on which you can send coins. Coins sent after this date are not swapped. If all coins arrive before the end of the last day, the swap is executed immediately.The process looks like this:When all coins at Stocks.Exchange are in, the team of Vites sends the new coins. The swap is then executed. For full transparency, the status of the amount of coins inside Stocks.Exchange can be monitored via the block explorer. This can be done with the information below.Vites wallet Stocks.Exchangewallet address: 3PKA39AKwyVQhvzaBxFj5ahaCQwNgwYrdNZ( NOTE!!! This is the Stocks.Exchange cold wallet. Do NOT send your coins to this address. This is only for coin tracking purpose)Rich list: http://dev.pywaves.org/assets/FEhAiFpfrjADzYNWDy9jmVehPAVvEVV6HRjof8HVCmARBlock Explorer: https://wavesexplorer.com/ _Current supply distributionCirculating supply: 30.000.000.000Development fund: 20.000.000.000Max supply: 50.000.000.000New supply distributionCirculating supply: 30.000.000.000Development fund: 5.000.000.000Staking: 15.000.000.000Max supply: 50.000.000.000The swap is being executed as soon as one of the following scenarios applies:1. As soon as there are 30,000,000,000 Vites in the Stocks.Exchange wallet2. As soon as the the 17th of September 2018 is overTo encourage option 2 we advise to continue trading on Stocks.Exchange.The pre-mine was obtained over 1 address. For full transparency, we share the pre-mine address and block explorer from which you can see that no more than 35,000,000,000 has been pre-mined.A blockchain is always maintained and secured by PoW and/or PoS. Now that the new PoS chain is ready, it means people have to start staking immediately to keep the chain running. There is, however, a problem. In about 1 month, the community will have new coins and only from that point people can start staking. If there are no stakers, we run the risk of seriously damaging the chain. In the meantime, the chain is mined on the lowest possible scale to keep it running.Please note that for this reason the amount of the pre-mine will be a little higher than 35b.Pre-mine address = Hk6dUsvxCyoGnGX44xT2mHmanS9XQjf1UoBlock explorer:http://80.211.105.222:3001 (temporary url)http://explorer.vites.io (this will be the final url. It might not work yet)The coins not claimed are going to be burned or used for bounties. However, depending on the amount of unclaimed coins, we will advise on the final decision for handling these unclaimed coins. The same applies to those extra coins above 35b. _Specs informationTicker: VITESPoS algorithm: Nist5Block time: ± 2,5 minutesBlock size: 8 MBBlock rewards: 20% year oneDifficulty: re-target 60 minutesConfirmation time: 10 blocks (± 25 minutes)Stake maturity: 30 blocks (± 75 minut

Share your thoughts, add a comment!

You must be logged in in order to place a comment.

Article comments

Loading...
No comments yet, be the first to comment this article