Hi guys,

There are a few points which I think it's important that everyone understand while discussing the coin swap process.

We are doing everything in our power to notify Nav Coin users of the swap so they can participate. We are personally funding paid articles and advertisements to make sure we spread the word as far as possible. We have been in constant communication with the exchanges who trade NAV and asked them to notify their users of the switch and help us with this process.

Nav Coin has a large following and almost 1000 pages on this forum. With your help through social media we can make sure that everyone hears about the swap and has a chance to be involved.

We are not trying to make the swap occur silently to gain profit from unswapped coins. We will shout it from the roof tops. We want everyone who rightfully owns Nav to get their coins swapped. This will be proved when the advertising campaign is launched.

The only reason for this coin swap is because it is the only realistic way we can deliver you all the features we want to see in Nav Coin. When we implement the new wallet, the old block chain and wallet generation methods are simply incompatible. If we could easily retrofit the new features to the old chain, we would do that instead. However if we want to have a mobile wallet, web wallet, raspberry pi staking unit and other modern features, this is the only way to do it without wasting many more months of development time. So we are left with no real choice but to do the coin swap.

The reality is that there will be some (currently unknown) amount of unclaimed coins at end of the swap process. I personally believe this number will be small due to the steps we take to notify everyone. We have previously posted our strategy of how we deal with the left over coins. Remy 5 said it correctly, we will not personally be taking the coins at the end of the coin swap. They will have their custody transferred to the Nav Foundation. The Nav Foundation will hold the coins and attempt to perform manual swaps for any late comers to the process. After this, the remaining coins will be used to fund future development and pay hosting costs of the anonymous network which ultimately benefits all users of Nav Coin.

This swap will be so good. no more cryptsy coins and no more yobit. yobit still hasnt asnwered my ticket from 3/7/16. they only answer tickets if it makes them money. they can keep that 100 nav test deposit now, cause it will be worthless soon... yobit=the next cryptsy.

Hi Everyone. We are making good progress on our end. We are currently testing the anonymous transactions using the new block chain and everything is looking good so far!

When we complete this step, we will be able to supply the new code base to Bittrex and initiate the coin swap. I would expect that we can begin the coin swap this week coming as previously stated.

We are also in the process of distributing articles about Nav and the coin swap to various crypto news outlets to make sure we give everyone the best chance of hearing about the swap and swapping their coins as well as pushing the public profile of Nav!

Bittrex have supplied us further information about how the swap will take place. It is very simple from your perspective.

All you need to do is to send your Nav to Bittrex before the end date of the swap.

At the end date all Nav wallets will be put into maintenance mode, meaning there will be no trading, depositing or withdrawing. We will then send Bittrex the balance of new Nav coin equal to the amount which everyone has deposited. They will decommission your old Nav addresses and link your current balance to the new block chain with all the new coins we have loaded ready for withdrawal. When the Nav wallet comes out of maintenance mode you are then free to resume trading or withdraw your coins to the new wallet.

We will make the new wallet available to the public before the end of the coin swap date so that everyone is prepared to withdraw their coins.

Bittrex have performed many of these coin swaps in the past and have had no previous issues. They are a very reliable exchange which has never had any problems with hacks or other suspicious behaviour from its operators. We trust that Bittrex will perform this swap in a swift, reliable and professional manner.

We strongly recommend that everyone use Bittrex as the swap mechanism. Manual swaps after the end of the Bittrex coin swap are possible but it does take us a reasonable amount of effort per swap and I'm sure you would rather we are busy working on new Nav features like the mobile wallet rather than being flooded with coin swaps to perform.

I will post again soon when we have sent the source code to Bittrex and agreed on a date for the coin swap to occur.

I am very excited to get this under way, the new wallet is awesome!

Regards,
Craig.