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Author Topic: [ANN][CRB] Creditbit - ERC20 token  (Read 365472 times)
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CreditBit-dev
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March 17, 2017, 09:11:54 PM
 #1541


TRANSACTION, LOCKING, CLAIMING CREDITBOND REWARD UNLOCKED

Dear CreditBit Community,
we finally made it, we unlocked all the remain functions. This is the last step of migration, from now on till April 8th, 2017 the migration will continuously run.

TUTORIALS here: https://www.creditbit.org/tokenGuide.html

Before you start using these functions, please READ THE FOLLOWING TEXT. Understanding of locking mechanism and claiming CreditBOND reward is crucial for proper use. There is no second chance, we are NOT able to help you, if you lock your Tokens by mistake or by making poor decisions.

LOCKING

BLOCKS

In Ethereum Blockchain, approximately every 15 seconds a new block is found. This metronome can be converted to this table:

4 blocks = 1 minute
240 blocks = 1 hour
5760 blocks = 1 day
40320 blocks = 1 week
172800 blocks = 1 month (depends on the month)
2102400 blocks = 1 year (depends on the year)

Locking for N blocks


Locking time period is measured in blocks. Locking for 500 blocks means locking for approx. 125 minutes. Locking for a 1.000.000 blocks means locking for approx. 173 days. Please calculate other time frames accordingly.

LOCKING

To lock your Tokens you must follow the procedure explained in a tutorial.

You can lock any amount of Tokens (1 is a minimum) anywhere from 1 block to 4204800 blocks (approx. 2 year period). Please think twice before locking your Tokens for a longer period, as it can't be undone. We suggest you to test locking for a shorter time (small amount of blocks) first before going for longer periods.

Locking period resets each time you lock any amount of tokens. So if you lock 5 Tokens for a month, and lock another 5 tokens after 15 days for a year: you will have 10 tokens locked for a year. Please be careful when re-applying lock! If you need to lock another batch of Tokens, we suggest opening a new Ethereum account and transferring second amount of Tokens there, where they can be locked independently.

CREDITBOND YIELD (AWARD)

With locking your Tokens you will be able to collect yields from CreditBOND Smart Contract. But be sure to understand, how the yields are calculated first.

Yields depend on the locking period:
from 1 to 175200 blocks (a month) - 1% yield per year
from 175200 to 525600 blocks (3 months) - 3% yield per year
from 525600 to 1051200 blocks (6 months) - 6% yield per year
from 1051200 to 2102400 blocks (1 year) - 8% yield per year
from 2102400 to 4204800 blocks (2 year) - 12% yield per year

CALCULATING CLAIMED BOND YIELDS (AWARDS)

To claim Bond reward after locking, you must follow the procedure explained in the tutorial.

You can claim the Bond Reward before locking period runs out. You will obtain proportional share of the Reward, according to blocks passed between locking and claiming. You will not obtain locked Tokens, as the locking period is not over yet. With claiming your awards too often you will lose small percentage of reward due to rounding.

If you claim the Bond Reward after locking period is over, you will obtain a Bond Reward for a full number of blocks elapsed from the time of locking till the time of claiming (not only to the end-locking block). Also your Tokens will be unlocked and returned to your Wallet.

EXAMPLE:

Someone locks 100 CRB for 1.500.000 blocks. Yield for this period is 6%. If he claims a reward after 500.000 blocks, he will obtain the following reward:
100 CRB * 0,06 * 500.000 / 2102400 = 1.4269... CRB (approx.)

If he claims his reward again after another 1.200.000 blocks, locking period will be over by then. Therefore, he will obtain the following reward:
100 CRB * 0,06 * 1.200.000 / 2102400 = 3.4246... CRB (approx.)
and the original amount of locked Tokens: 100 CRB

In total, he will obtain 4.8515...CRB, almost the same as he would claim his reward once:
100 CRB * 0,06 * 1.700.000 / 2102400 = 4.8516... CRB
Difference if the result of rounding.

The CRB Dev Team
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March 17, 2017, 09:24:48 PM
 #1542

Wow,thanks dev team..
I am ready for 12%! LOL

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March 17, 2017, 09:41:55 PM
 #1543

I look forward to launch the trading of the new Creditbit Ethereum token!!
Price will go up for sure after trading launch!
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March 17, 2017, 09:59:29 PM
 #1544

Hy dev team!
Very good work Smiley

I have Q----- when will be transaction froma Livecoin enabled? I cant send Creditbits! Sad

thny!
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March 17, 2017, 10:14:04 PM
 #1545

Hy dev team!
Very good work Smiley

I have Q----- when will be transaction froma Livecoin enabled? I cant send Creditbits! Sad

thny!


I think its all up to livecoin.net!
You need to ask them,they need to fix wallet,etc.
but i think after migration stop,we can all go and trade only new crb tokens on all exchanges where they will replace it and new exchanges add it. Wink

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March 17, 2017, 10:15:58 PM
 #1546

I have Q----- when will be transaction froma Livecoin enabled? I cant send Creditbits! Sad

Livecoin? From or TO Livecoin? You should create an independent Ethereum account, I really hope you haven't send CRB's to Ethereum account on Livecoin! Or did you?

Dev Team


It is OK, also Exchanges will migrate CRBIT coins to CRB Tokens automaticly. This problem is also fixed.
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March 17, 2017, 10:26:02 PM
 #1547

I have Q----- when will be transaction froma Livecoin enabled? I cant send Creditbits! Sad

Livecoin? From or TO Livecoin? You should create an independent Ethereum account, I really hope you haven't send CRB's to Ethereum account on Livecoin! Or did you?

Dev Team

I have CRBIT coins on Livecoin account, and I cannot send them anywhere...when I try to withdraw I get this:

"This type of withdrawal is temporarily unavailable. Please accept our apologies for the inconvenience."
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March 18, 2017, 05:10:28 AM
 #1548

I have Q----- when will be transaction froma Livecoin enabled? I cant send Creditbits! Sad

Livecoin? From or TO Livecoin? You should create an independent Ethereum account, I really hope you haven't send CRB's to Ethereum account on Livecoin! Or did you?

Dev Team

I have CRBIT coins on Livecoin account, and I cannot send them anywhere...when I try to withdraw I get this:

"This type of withdrawal is temporarily unavailable. Please accept our apologies for the inconvenience."


As i know they will do migrationa and later you will be able to make withdrawal to your eth wallet...so all great.

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March 18, 2017, 10:37:04 AM
 #1549

I have CRBIT coins on Livecoin account, and I cannot send them anywhere...when I try to withdraw I get this:
"This type of withdrawal is temporarily unavailable. Please accept our apologies for the inconvenience."
As i know they will do migrationa and later you will be able to make withdrawal to your eth wallet...so all great.

We are not aware of such agreement. Please contact Livecoin support with a question on this error. It is possible, that Livecoin decided to make a migration on their own, but we were not noticed of such attempt.

It is OK, Exchanges will migrate CRBIT coins to CRB Tokens automaticly.
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March 18, 2017, 01:21:49 PM
 #1550

Thank you for making instructions for MyEtherWallet and the other wallets.  Very clear and concise with diagrams that are very helpful.  Quality work and would just like to thank whoever put the time and effort into making the instructions very clear and easy to understand.
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March 18, 2017, 01:25:26 PM
 #1551

Thank you for making instructions for MyEtherWallet and the other wallets.  Very clear and concise with diagrams that are very helpful.  Quality work and would just like to thank whoever put the time and effort into making the instructions very clear and easy to understand.

Yeah.
Everything new Devs for Creditbit did is amazing.
This coin really have a nice future.

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g-uid
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March 18, 2017, 06:06:08 PM
 #1552

Re migration, how long does it take to see the transfer to the Ethereum wallet? I tried to migrate thousands of CRBIT yesterday but still see nothing in my Ethereum wallet.

Getting nervous because others are saying the migration was fast and easy but I see nada.
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March 18, 2017, 07:03:18 PM
 #1553

I have CRBIT coins on Livecoin account, and I cannot send them anywhere...when I try to withdraw I get this:

"This type of withdrawal is temporarily unavailable. Please accept our apologies for the inconvenience."

Hello.
We sent a letter to CRBIT devs to clarify some questions about swap and still didn't get an answer from them. That is why deposits/withdrawals are temporarily closed.

.
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March 18, 2017, 07:49:40 PM
 #1554

I have CRBIT coins on Livecoin account, and I cannot send them anywhere...when I try to withdraw I get this:

"This type of withdrawal is temporarily unavailable. Please accept our apologies for the inconvenience."

Hello.
We sent a letter to CRBIT devs to clarify some questions about swap and still didn't get an answer from them. That is why deposits/withdrawals are temporarily closed.


Thanks for update.

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DXB2017
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March 18, 2017, 07:51:22 PM
 #1555

Re migration, how long does it take to see the transfer to the Ethereum wallet? I tried to migrate thousands of CRBIT yesterday but still see nothing in my Ethereum wallet.

Getting nervous because others are saying the migration was fast and easy but I see nada.

we did it in few minutes
my friend make it in 10 minutes with https://parity.io/ wallet.

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g-uid
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March 19, 2017, 03:16:01 AM
 #1556

Re migration, how long does it take to see the transfer to the Ethereum wallet? I tried to migrate thousands of CRBIT yesterday but still see nothing in my Ethereum wallet.

Getting nervous because others are saying the migration was fast and easy but I see nada.

we did it in few minutes
my friend make it in 10 minutes with https://parity.io/ wallet.

Oh dear. 12000 CRBIT of mine is in limbo then.

TXID aac4fa01c8aba2c4595a3610b662ce42e79fb437f557d7ac349241ef64d9da66
vprf
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March 19, 2017, 11:52:58 AM
 #1557

I have CRBIT coins on Livecoin account, and I cannot send them anywhere...when I try to withdraw I get this:

"This type of withdrawal is temporarily unavailable. Please accept our apologies for the inconvenience."

Hello.
We sent a letter to CRBIT devs to clarify some questions about swap and still didn't get an answer from them. That is why deposits/withdrawals are temporarily closed.

Thank you for coming here helping your customers.
LowByter
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March 19, 2017, 04:04:30 PM
 #1558

Re migration, how long does it take to see the transfer to the Ethereum wallet? I tried to migrate thousands of CRBIT yesterday but still see nothing in my Ethereum wallet.

Getting nervous because others are saying the migration was fast and easy but I see nada.

we did it in few minutes
my friend make it in 10 minutes with https://parity.io/ wallet.

Oh dear. 12000 CRBIT of mine is in limbo then.

TXID aac4fa01c8aba2c4595a3610b662ce42e79fb437f557d7ac349241ef64d9da66

Is your Ethereum wallet fully syncronised?

LowByter
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March 19, 2017, 07:18:32 PM
 #1559

I just tried Parity with a couple of new CRB tokens...and have a few questions:

- does anyone see CRB logo or just a question mark beside CRB total?

- how do we backup Parity wallet in case we loose or break the computer?

I installed watch contract and now I see CreditGame, DAO, MC, BOND...

g-uid
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March 19, 2017, 08:41:31 PM
 #1560

Re migration, how long does it take to see the transfer to the Ethereum wallet? I tried to migrate thousands of CRBIT yesterday but still see nothing in my Ethereum wallet.

Getting nervous because others are saying the migration was fast and easy but I see nada.

we did it in few minutes
my friend make it in 10 minutes with https://parity.io/ wallet.

Oh dear. 12000 CRBIT of mine is in limbo then.

TXID aac4fa01c8aba2c4595a3610b662ce42e79fb437f557d7ac349241ef64d9da66

Is your Ethereum wallet fully syncronised?

I'm watching the wallet through etherchain.org so yeah it's sync'd
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