Dear FAILers,
Swap is now live on EmpoEx!DETAILS ABOUT THE SWAP:1.
Sign up to EmpoEx exchange.2. Deposit your old (current) FAIL coins to
EmpoEx. Please make sure that you are not sending more than 50-60 million coins per transaction.
3. Wait until
6th of April 2015 4pm GMT (about 14 days and 2 hours from now), when swap will over and EmpoEx will denominate the coins for you.
4.
FAILCoin will be denominated at the rate 1 old for 0.00025 new coins!5. Currently there are less than 80 billion old FAIL coins. EmpoEx already have 20 million coins for the swap, which means they will be enough (80B old = 20M new). If there are coins left, they will be burned.
6.
Make sure to swap your coins before 6th of April 2015 4pm GMT, because old FAILCoin will stop working right/soon after the swap is over!7.
No one (even members of our team) will receive coins before the countdown ends, so please don't ask EmpoEx to send you new FAIL coins until the deadline is reached!8.
14 days is more than enough time for everybody who follow FAIL to swap their coins. We will remind it to all each and every day, so if someone misses the deadline, it will be by his own fault!9.
When swap is over new thread with new logo, graphics and future develoments will be launched!FAILCOIN SPECIFICATIONS AFTER THE SWAP IS OVER:Algo: Scrypt
Supply: ~71,683,751 coins (after ~30 years)
Block time: 64 seconds
Initial block reward: 12 coins
Difficulty retarget: Every Block
Nominal stake interest: 3%/year
Min transaction fee: 0.0001 FAIL
Fees are paid to miners
Confirmations: 10, maturity: 50 Blocks
Min stake age: 8 hours, no max age
Halving will occur at 492,750 block (~1 year), when total supply (+ the premine) will be ~26,690,390 coins. After that block reward will be 6 coins for ~2 more years. At the 3rd year of PoW phase (block 1,478,250), FAIL reward will halve to 3 coins and PoW phase will continue for another ~2 years (~5 years PoW phase in total). By the end of the PoW phase (around block 2,463,750) there will be ~40,000,000 coins (+ the premine) in existence. After that FAIL will become fully PoS at the rate 3%/year.
We wish you best of luck and let us hope that we will not have another failures!
Best regards,
Spartak
P.S. In case you have problem with syncing, try adding these as nodes:
addnode=188.126.1.26
addnode=80.223.233.166
addnode=188.134.72.213
addnode=95.85.20.219
addnode=98.172.122.112
addnode=216.113.31.212
addnode=77.247.181.165
addnode=91.127.27.179
addnode=188.40.252.207
addnode=212.5.50.12
addnode=188.126.29.181
addnode=188.126.1.90
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