Dear respected $ARCO holders, stakers and traders.
The decision has been made to end AquariusCoin open blockchain ledger development.
The reasons are technical and financial and here are just a few:
- coin source code is outdated
- there are simply too much orphan blocks on the network
- a large portion of coins is "hijacked" by the rougue Yobit.net exchange
- we spent simply too much satoshis during the chain lifetime on listings that ended up a hacked exchange or simply an exit scan (if you are following ARCO on social you know which ones)
Effective 1.1.2024 the native $ARCO coin will be transformed and swapped for $ARCO for a token on a smart contract enabled blockchain
Token smart contract will mint the same amout of tokens as are hardcoded into the current $ARCO chain parameters.
The final supply of current $ARCO = 42.000.000 coins. At time of writing $ARCO coin circulation = 4.437.190 coins.
Current ARCO coin proof of stake rewards = 1 ARCO fixed plus 6% annual on the amoout at stake.
With the launch of ARCO (token) smart contract this will only inlude a minor change. Fixed 1 ARCO will be removed while 6% annual reward will remain and will be automated 4x per year.
What this means, is that if you hold 100 ARCO on your token wallet address, the contract will transfer 1.5% vesting reward of ARCO from treasury wallet 4 times per year (every Q or every 3 months).
The first reward is expected to arrive to your wallet by April 1st 2024. As an example holding 100 ARCO will reward you with 1.5 ARCO. The exact dates will be know one token contract is deployed.
The important stuff:
We have partnered with Xeggex.com exchange to perform the swap.
We are urging all ARCO coin holders/staker to create an account at Xeggex.com and transfer all their ARCO coins no later than december 23rd 2023.
After this date ARCO coin deposits to Xeggex will be disabled,
while current USDT and USDC pairs will remain active.
In ¨Q1/2024 (no later than February 11th) trading on ARCO/USDT and ARCO/USDC will be paused
and coins will be swapped for smart contract tokens at 1:1 ratio.
After the swap is completed trading will resume.
Keep in mind that from this point on Xeggex.com will be the only CEX exchange we plan to be listed on while a new ERA of decentralized exchanges (DEX) will arrive.
Deposit to all active exchanges status at time of writing:
- Yobit (wallet offline for 5 years, status of keys/coins/how much is unknown
- Bololex (deposits disabled, trading active, withdrawals active)
- Freiexchange (deposits, trading, withdrawals active, deposits disabled before 1.11.2023)
The nature of open blockchain assets of course doesnt forbid any other CEX or DEX to list $ARCO the token, so new partnerships and listings are still possible in the future.
Than you all for your time, support and trust. We have stayed humble and commited to our initiall promise and have no intenetions of breaking this promise in the future.
Finest regards to all: Jure Pirc, AquariusCoin founder
PS: For updates and Q&A join telegram group:
https://t.me/AquariusCoin
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