EDITED
This post is very old.
Since this post has been heavily bookmarked, we left the old version live for archive purposes. This information is not current and the way GAM operates now is much different. Please see the main thread at GambitCrypto.com for up-to-date information.
EDITEDFirst of all, I would like to thank everyone who has supported Gambit over the past two years. What started as a small proof-of-concept turned into a large daytrading community that has developed a plethora of trading indicators, bots, signals, and more.
Moving forward we have a LOT of plans for continued expansion, and ultimately this will all begin with Gambit moving away from its own blockchain and becoming an ERC20 token on Ethereum Classic. In the coming weeks-to-months, we will be working with Bittrex to complete a one-to-one token swap from the current chain to the new one.
What does this mean for GAM?
- 1. A 1:1 token swap means you will receive exactly the same amount of tokens on the new chain.
- 2. Anyone that has GAM on Bittrex will automatically receive the new GAM tokens. People with GAM in personal wallets will be able to exchange them for free during the 30 day grace period which will be announced well ahead of time.
- 3. The original chain will be retired after everyone swaps out their tokens.
- 4. There will be no crowdfunding raise.
- 5. There will be no hidden premine.
- 6. The supply will remain the same, and the token burning will continue on the new chain.
- 7. The total amount of burned tokens from the first chain will be created, and then re-burned to keep the supply + records identical.
- 8. There will be no proof-of-stake, which ultimately means there will be 5% less inflation per year.
- 8a. -- At current GAM prices, this means inflation may be reduced by up to $100,000 per year if all current tokens staked. This reduction in inflation means more funds will be available for indicator development and exchange liquidity.
- 8b. -- GAM will be the first altcoin token with a sustained negative inflation rate due to affiliate earnings, private group memberships, escrow payments, OTC trades, crowdfunding revenues, and indicator sales alone. Not to mention any future revenue-streams to be developed..
The token swap is still at least a month away, but we wanted to share this news with the community so they can begin getting ready for it. We have a lot more exciting news to share very soon. Follow @CollinCrypto and @GambitCrypto on twitter to stay up to date.
Last but not least -- we will be overhauling the original post in this ANN thread in the next few days. It is in vast need of an update.
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