Horizon/NFD Merger AnnouncementAfter extensive negotiations, the development team of NFD has agreed to merge with HZ.
Why do we think a merge is good for both coins?
HZ is another Nxt clone with a vibrant community and a larger dev team. HZ has a very good crypto currency infrastructure with many public nodes and has a still ongoing good distribution. They also have good relations to the industry and good marketing. Most of this is missing for NFD but we have a good core development team, which HZ is missing. NFD and HZ ‘s teams share the same ideas and the same vision. This all led to the idea to work together on one coin. Together we are stronger, faster, better!
HZ is actively traded on Poloniex and Bittrex. The recent Bter disaster has not affected HZ.
HZ is offering a buy out for NFD coins. This is an option for the NFD community to move with the NFD development team and also benefit from the team merge.
The HZ dev team has already set up an automated script to make exchanging your NFD easy and convenient. As a welcome to us, the HZ team settled on a fair exchange rate of 1 HZ to 25 NFD.
The exchange itself is scheduled to start on March 9th.The HZ team doesn’t want to release a lot of HZ all at once, which would prompt concern about flooding the market. So, the HZ will be sent on the same schedule as its bounty distribution. In a tip of the hat to “Nxt Fair Distribution,” the accounts with the least NFD will be served first if there’s a line-up. If you’re an NFD minnow, you’ll get your HZ quickly. The whole exchange will take place over four to five months after the 9th, so the big whales will likely have to wait until summer. The minnows will get theirs sooner.
In order to make sure that everyone gets the news, the exchange script will operate for 120 days after the March 9th start. So, the last day to send your NFD to the exchangebot will be July 5th of this year. After that, it will cut off the buyout line and distribute HZ to any sent NFD that’s left.
Further details and instructions on the exchange mechanics are coming soon. The NFD that the HZ team gets for the exchange will be burned.
NFD Assets, including the ones run by Nxtblg, will be recreated on the HZ system. If you hold any Assets, please contact the Issuer or look on the NFD threads for details on how to redeem your NFD Assets for the HZ equivalents. If your Asset is backed by another cryptocurrency, you also have the option of redeeming your Asset for the underlying crypto. Once the HZ versions are set up, they will be run in the same manner as they were when they were NFD Assets. The terms will be the same, except for terms that depend on market ratios: those will be adjusted to replace HZ’s market value for NFD’s. If you have any questions about the specific mechanics of an Asset transfer, please contact your Issuer.
please see also HZ announcement:
https://horizonplatform.io/horizon-acquires-nfd/ If you have a running NFD client you can also use ui search box or
as block explorer.
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