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Author Topic: [ANN][SYNX] SYNDICATE Coin | Masternodes, PoS, Business platform  (Read 36802 times)
AltScope
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April 16, 2018, 07:02:36 AM
 #641

Where did you read (Masternodes 90% of pos rewards??)


it was on the swap page...
either I was on acid yesterday morning or they've changed it to seesaw, neither of those are bad things tbh  Cheesy


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April 16, 2018, 12:04:33 PM
 #642

!!! On the 8th of May 2018 we will perform a blockchain transfer from the old chain to the new one. Syndicate will be upgrading to a new Proof-of-Stake 3.0 with Masternode consensus mechanism and blockchain. Your existing SYNX coins will be mapped 1:1 on the new chain if you will hold your coins in your wallet or on Bittrex exchange, at the swap date.

Note: Bittrex will be closing the SYNX wallet and stop trading the token to take accurate snapshots of balances. If any SYNX you had sent to Bittrex are not settled (e.g. marked as pending) by 6:00 PM PT, on 05/08/2018 (1:00 AM on 05/09/2018 UTC), you may not be credited with SYNX.

Bittrex Announcement: https://support.bittrex.com/hc/en-us/articles/360002686551-Support-for-the-Syndicate-SYNX-blockchain-upgrade

We have requested SYNX wallet to be placed in maintenance until the day swap for security reasons. There is no need to contact the Bittrex team as this was requested by our developers. Also, we would like to kindly thank Bittrex team for working closely with us as we upgrade to Synx 2.0

We have received an email from Cryptopia and they won't support our swap. SYNX will be put into the delisting state and users will have 1 month from that date to withdraw before it is removed from the exchange. We are thinking to apply for a new listing on their exchange after swap. The new chain is already running and we created 250k SYNX to maintain the network alive. Those coins will be used for additional exchange listings and marketing.


Reasoning for the Swap:

- Current code base is very outdated and crucial updates can not be supported by it
- The network does not behave the way it should due to the fast rewards from MN
- To move forward with our Business Platform we need a fresh code base with no network issues


The new SYNX specification:

Block Time: 60 Seconds (Re-targeting every block)
Block Maturity: 101 blocks
Minimum Stake age: 3 hours
Block reward: 10 SYNX
Masternode collateral: 5000 SYNX

Syndicate has Seesaw Reward Balance System that dynamically adjusts its block reward size between masternodes and staking nodes. The higher the masternode count, the smaller the reward portion of each PoS block that will be paid out to the masternodes and the larger the reward portion for staking nodes. Conversely, when the masternode count falls, the masternode reward portion is increased and the staking node reward portion decreased.


We are preparing updated guides for users to set up trustless proof of stake transactions and masternodes.
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April 19, 2018, 04:33:56 AM
 #643

 which one should we use to speed up wallet sync? Block chain or bootstrap?HuhHuh?
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April 19, 2018, 06:59:35 AM
 #644

Hopefully it worth the investment.
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April 19, 2018, 01:23:10 PM
 #645

which one should we use to speed up wallet sync? Block chain or bootstrap?HuhHuh?

It would be best to download the bootstrap to lessen the syncing times of your wallet. It would really depend on how updated the bootstrap is. If it is updated with the current blockchain, your wallet should sync way faster than normal.


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April 20, 2018, 04:39:01 AM
 #646

Good news for Synx.
I can not wait to see you on May 8, 2018.
Hopefully the price goes up.
And the next few days there will be panic buying in synx.

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April 21, 2018, 06:24:48 AM
 #647

I just sent synx to bittrex and their wallet is offline.

What is going to happen to my coins?  I thought the coinswap was in May not April
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April 21, 2018, 06:58:02 AM
 #648

How many coins are you making per day / per MN ?
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April 21, 2018, 10:11:14 AM
 #649

As many of you already know, Syndicate is upgrading. Recently we have found that a 3rd party is using an exploit to speed up their MN & POS rewards. We concluded that we need to stop deposits & withdrawals on all exchanges just to prevent the 3rd party to sell their coins & affect the price stability. After many discussions, this was our best option to protect our community and it’s best interest.

On 23th of April you'll be able to withdraw your coins from Cryptopia. They won't support our swap but because SYNX is a “veteran” coin on their exchange, they will give us the oportunity of a new listing for the new chain with a reduced fee. Until 8th of May you should withdraw all your coins from Cryptopia in your wallet.

In other news, Bittrex will support our swap although they might not open the wallet for transfers until the swap day. We are working closely with them to keep the even simple and professional.

You can still keep your MN or wallet open to receive rewards. We are preparing updated guides for users to set up trustless proof of stake transactions and masternodes.

Reminder: On the 8th of May 2018 we will perform a blockchain transfer from the old chain to the new one. Syndicate will be upgrading to a new Proof-of-Stake 3.0 with Masternode consensus mechanism and blockchain. Your existing SYNX coins will be mapped 1:1 on the new chain if you will hold your coins in your wallet or on Bittrex exchange, at the swap date.

Note: Bittrex will be closing the SYNX wallet and stop trading the token to take accurate snapshots of balances. If any SYNX you had sent to Bittrex are not settled (e.g. marked as pending) by 6:00 PM PT, on 05/08/2018 (1:00 AM on 05/09/2018 UTC), you may not be credited with SYNX.

Bittrex Announcement: https://support.bittrex.com/hc/en-us/articles/360002686551-Support-for-the-Syndicate-SYNX-blockchain-upgrade
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April 22, 2018, 12:55:46 PM
 #650

Guys,

Is there any way to speed up the blockchain sync of the wallet? I have downloaded the bootstrap.dat file in the same directory, but it doesnt seem to help much. Im stuck at 1y 44weeks behind..

Please advise.
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April 22, 2018, 01:26:50 PM
 #651

As many of you already know, Syndicate is upgrading. Recently we have found that a 3rd party is using an exploit to speed up their MN & POS rewards. We concluded that we need to stop deposits & withdrawals on all exchanges just to prevent the 3rd party to sell their coins & affect the price stability. After many discussions, this was our best option to protect our community and it’s best interest.

On 23th of April you'll be able to withdraw your coins from Cryptopia. They won't support our swap but because SYNX is a “veteran” coin on their exchange, they will give us the oportunity of a new listing for the new chain with a reduced fee. Until 8th of May you should withdraw all your coins from Cryptopia in your wallet.

In other news, Bittrex will support our swap although they might not open the wallet for transfers until the swap day. We are working closely with them to keep the even simple and professional.

You can still keep your MN or wallet open to receive rewards. We are preparing updated guides for users to set up trustless proof of stake transactions and masternodes.

Reminder: On the 8th of May 2018 we will perform a blockchain transfer from the old chain to the new one. Syndicate will be upgrading to a new Proof-of-Stake 3.0 with Masternode consensus mechanism and blockchain. Your existing SYNX coins will be mapped 1:1 on the new chain if you will hold your coins in your wallet or on Bittrex exchange, at the swap date.

Note: Bittrex will be closing the SYNX wallet and stop trading the token to take accurate snapshots of balances. If any SYNX you had sent to Bittrex are not settled (e.g. marked as pending) by 6:00 PM PT, on 05/08/2018 (1:00 AM on 05/09/2018 UTC), you may not be credited with SYNX.

Bittrex Announcement: https://support.bittrex.com/hc/en-us/articles/360002686551-Support-for-the-Syndicate-SYNX-blockchain-upgrade

Thanks for the additional information. It is reassuring to see that Bittrex will support the chain swap and is closely working with the developers of SYNX. It is unknown to us that there are 3rd-party individuals who are taking advantage of the exploit regarding the frequency of POS/MN rewards. The swift action that you took are very much appreciated and that will surely prevent the selloff that can be made by them. Kudos to Cryptopia also as they will still give us opportunity for another listing in the future. Though it would be best if they will not ask for any fee.  Grin

Guys,

Is there any way to speed up the blockchain sync of the wallet? I have downloaded the bootstrap.dat file in the same directory, but it doesnt seem to help much. Im stuck at 1y 44weeks behind..

Please advise.

Hmm, I think the bootstrap that you downloaded is located in the wrong folder. Because, if you downloaded it to the correct folder, your sync time should be way shorter than 1 year and 44 weeks.


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April 22, 2018, 03:10:08 PM
 #652

i fixed it
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April 22, 2018, 03:11:45 PM
 #653

Any detailed explanations?
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April 22, 2018, 07:49:25 PM
 #654

could someone give me an idea of how many coins a masternode gets per day? - thanks

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April 22, 2018, 10:04:18 PM
 #655

hello,

since recently my first masternode is running. I have a few questions...

I had forgotten to generate another address and I have received a few synx for the masternode, on the address with the 5000 Synx. Will there be future problems with the masternode that there are more Synx as "5000"?
When I'm not on the pc, sometime the masternode is no longer running and I just have to decrypt the wallet and then it works again. Is there a solution for this?
And the wallet constantly freezes. Is it normal? I have tested the walltet  (the last and penultimate version) on different machines and the speed isn't good...
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April 23, 2018, 04:53:53 AM
 #656

is there any way to get my coins out of bittrex and start my masternode or i need to wait for the fix?  Huh
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April 23, 2018, 04:59:29 AM
 #657

could someone give me an idea of how many coins a masternode gets per day? - thanks


Rough estimate would be 20-30 synx per day. That depends on a lot of factors so it is very dynamic. But, it even out in the long run.

is there any way to get my coins out of bittrex and start my masternode or i need to wait for the fix?  Huh

From my understanding in the announcement that they made, you'll not be able to get your coins out of Bittrex until May 8th. I recently bought a lot of SYNX at Bittrex during its bear trend but can't withdraw from it due to the request of the developer. Guess we'll just have to wait for that swap.


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Radent
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April 23, 2018, 11:02:44 AM
 #658

my SYNX on coinexchange.io can swap?
rigga22
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April 24, 2018, 04:38:09 AM
 #659

Who can tell if the swap is overall good or bad for the coin?
I understand that is great from dev POV, but not sure about other aspects.
7xminer
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April 24, 2018, 02:53:57 PM
 #660

Hi, I had to close my wallet and now I keep getting "connect() to ip:9999 failed after select(): Connection refused" messages. I have already deleted peers.dat but this error continues to show and my blockchain does not sync. Is this normal because of the swap that is going to happen ?

Thanks.
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