Gambit Update --
Back in April, we
mentioned our original plans of moving the GAM token off of its own blockchain and letting it become an ERC20 contract on the Ethereum Classic blockchain. We were to be the first large token available for trading on the ETC network and wanted to pave the way for future tokens & coins to follow suit. It is never easy being the first, so we expected some difficulties in doing so. Unfortunately, working with a newer network meant the infrastructure just wasn't as mature as the ETH counterpart yet, so exchanges and crypto websites have not fully adapted to supporting ETC tokens.
Since it is not cost benefitial yet for the exchanges and crypto-websites to build servers and services supporting ETC tokens, we have decided to move our token swap to the ETH network for the time being. We are still avid supporters of both ETH and ETC, this was purely a business decision as we want to eliminate the proof-of-stake inflation rate as soon as possible and do not want to wait in limbo for another 6+ months.
When the time comes that exchanges and services support ETC tokens as much as they support ETH tokens, we will be waiting and already have the development and contracts ready for any potential changes in the future that the community agrees upon.
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What this means moving forward:
We are working with Bittrex and they will be swapping out everyone's current GAM tokens with a 1:1 equivalent on the new GAM ERC20 ETH token contract. If you have your tokens sitting on Bittrex, you do not need to do anything. If your tokens are in a personal wallet, we will be manually swapping them out to the new contract for a 30 day period after Bittrex completes their swap.
Read the full post by Bittrex:
https://support.bittrex.com/hc/en-us/articles/115001674851-Support-for-the-Gambit-GAM-blockchain-upgradeWe are going to be restructuring a lot of things behind the scenes in the next month, and will start releasing news as it comes together. We have many exciting new products and utilities to launch as well. Stay tuned.
