posw is being swapped to xsn right now, so it will be gone for good soon, and hopefully the xsn-team decides to just let poswallet.com (and any of their great service-site ideas) die. poswallet.com was nothing less than a pain in the ass since about april/may 2017. and quite impressively got only worse for about a year. Or to put it in another way: roadmap items from posw, which just disappeared: eth integration, staking anything but posw, exchange, marketplace, debit card, ….
the only thing that was delivered was “poswallet2.0”, which worsened the gui, reset the verification (oh was I happy I never sent posw back there after the downgrade), and finalized the “community oriented” “profit driven” coins main site as an online staking wallet. And there is still not even a roadmap for the site. So if developed, we will get some kind of surprise egg
So if the site is good for anything, it obviously is for depleting the value of a coin, which has been developed for real [was not believing them after all their delays and questionable poswallet2.0 release] and offers trustless pos and masternodes. But that’s about it. There is no seesaw mechanism (was changed for a 45-45-10 split (stakes&masternodes 45% and 10% for the treasury), and there will be a rather “fun” challenge system, which will be used to change the requirements (ram/cpu) for masternodes as devs like (just have a look at their discord). To be fair, the reason given for that, is that with ccpos and other roadmap items mn will have to perform more complex calculations, but the communication was as posw as possible – so people learned about that after they swapped and were told there was seesaw for about half a year.
Another fun part about xsn is, that there is a premine of 76.5m (
https://github.com/X9Developers/XSN#coin-specs). There have been a few millions added at devs will, because 5m dev fund and 1.5m hardwarefund (plus 10% of all blockrewards with xsn) are just not enough… if the circulating supply was around 44.1m (cmc did not update this very often, lets say the last update was a year ago) so it should be around 1% more because of staking -> around 48mill. Dividends were paid, lets say 2m (about 0.5%) were dividends, makes 50m. Plus the funds 56.5m. So 76.5m premine minus 56.5m gives us another whopping 20m for the devs(i guess it is safe to assume that they were premining). But they get 10% of every reward (first month around 216.000 xsn) - at least they wont have to die from starvation.
Marketing has to suffer of course, since there are no funds available to market the coin, maybe the treasury should be 90% and 5% for mn/staking. But poswweekly is back with the shortest article up until now and is just explaining, why seesaw is not used. Posweekly is back after 3months nothing and has lost its quality as well, after changing the meaning of the attribute weekly. Yeah.
Bloggers best dont write about posw/xsn because every info you give gets changed anyways. A rather adventurous reinterpretation from the q1 top 10 exchange listing (was posted in their discords announcements) also took place, since the team has decided that livecoin.net is the new exchange listing. Also the delays of this project are legendary.
The swap itself was and is being handled very amateurish and after 4 months of testnet, I was under the impression, that there will be a wallet, which has all promised functions integrated. But now we are at wallet version 1.04, still no tpos gui, which was promised for last week, and we will get v1.0.5 (maybe with tpos gui?) soon presumably. Updating the wallet every other week just shows, that the testnet was not used for developing, but as a time waster for the community.
