Cannot understand really. There will be new PoW phase or will be swap?
Initially there was a PoW phase. After that, it was all PoS but there was a problem in the "lucky stake" code.
The original developer(s) walked away.
After that, we licked our wounds, started a little "crowd-fund" for a new developer to fix the code and Placebo made it all happen!
Together with C-Cex he organized a 1:1 swap to a new blockchain.
It was done pretty fast because the faulty "lucky stake" code was staking a bit too well and we didn't want too much inflation.
Now we have a solid wallet, fully PoS and working "lucky stake" so Placebo moved back to his existing project(s).
TheAltTrader took over development, set some new dots on the horizon and everyone who wants to assist with his/her skills is welcome!