XP Coin is migrating to a new blockchain and LionBit is the main exchange for the swap.
With such a busy end to 2018, it’s been a while since English Teacher Online posted but we’ve saved the best for last to bring you this XP Coin Swap News.
Ratio of the Swap
I’ve just been informed directly by the XP Coin Dev Team that the swap ratio is now set at 150:1 so if you have any of the old tokens you need to make a choice. You are advised to move your old XP Coins to LionBit Exchange who are enabling this swap to the new XP Coin blockchain.
After the swap, the old tokens will not be supported by our devs.
The team have considered the swap numbers in relation to the maximum coin cap following a community vote on Discord and many hours of long deliberations. They finally agreed a swap ratio of 150:1 which is going to allow XP Coin to grow at a reasonable rate while ensuring against any one member owning a portion beyond the company itself.
The community also asked for a “hard-cap” on the coin, with the majority of members believing that crypto-coins with a total cap acquire a better reputation. The new coin will therefore be limited to 120 billion total coins.
The team council also determined that an 18% pre-mine would be sufficient for the operations, promotions, and associated costs of running the new XP Coin blockchain.
Master Nodes & Rewards
By popular demand, when XPcoin.io moves to the new blockchain, there will be XP Master Nodes.
The cost of a Master Node is going to be 500,000 “new” XP.
The team took a critical look at the block chain, timing, and associated rewards; and had very intensive discussion that involved looking at various scenarios.
Our team decided to officially set rewards at 10,000 XP for every block at one minute intervals. They are confident that these numbers are in the best interest of XPcoin.io and the community.
Timetable for the Swap
There is still no firm swap date but the team did say that it would allow sufficient time for all members to swap. If you are worried about missing the swap timetable, you may put your old XP Coins on a participating exchange now.
These were the most critical questions asked by the community and the team is now addressing tasks that rely on those numbers, such as the swap date and span, partners who may want to participate, pools and their contacts, etc.
I will post updates as soon as the XPcoin.io team review and approve more details.
Finally, the Devs and XP team would like to thank you for being a part of the XPcoin.io community. I’m sure we all look forward to these great, new, exciting changes paving the way for a prosperous 2019 and beyond.
PS. Don’t forget to place your old XP Coins on a participating exchange so they swap automatically when a date is announced.