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October 17, 2018, 08:27:57 PM |
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This crowdsale is officially over. Thanks to everyone who participated! Here's what will happen next and how coins will be distributed.
First, I have almost certainly decided to use StellarX for the first exchange to be listed on. Or marketplace I should say as it is truly decentralized, has no fees, and offers users the ability to shift in between fiat, crypto, eggs, bacon, stocks, you name it! I like that model and feel it is the future of trading.
The ERC20 token, Intracoin will be destroyed and a new Intracoin will be created on the StellarX platform. The reason for this is, if I anchor the ERC20 token to Stellar, we'll all have to pay multiple fees. One to Ethereum and one to Stellar. By rebuilding the coin on Stellar, there will only be 1 fee involved making it easier for all. Creating my own blockchain is still on the table, but it will happen only when/if eGoods becomes widely used as well as Intracoin itself, so that is up to you, the users!
Changes in the coin once moved to Stellar
Since this will be a new blockchain, coding is more restricted. There won't be many changes to the functionality, but here are the few.
- The coin will NOT be mintable or burnable. While I haven't made a definite decision on this, I'm leaning more toward this because it does not appear that coins built on the Stellar platform can be burned/destroyed. This is bad because we can't control the supply of coins. If too many are made, it just decreases demand, thereby devaluing the asset, which is not something we want to do. So until they offer that functionality, it will be a set amount made. Thankfully, coins made on this platform can be modified later unlike Ethereum so there is scalability!
- The coin will still be freezable. I can still help prevent or handle any theft or shady business by freezing infringing wallets. Unfortunately in order to implement this on Stellar's platform, I'll have to also require everyone get permission/authorization to use the coin. This shouldn't be a problem as it SHOULD be able to be done automatically without the use of manual approval.
- It won't be pausible, which was never a HUGE deal in the first place. In case of severe theft it was an emergency feature that allowed me to disable ALL trading of Intracoin so I could do research into finding the perpetrators. As long as I still have the ability to freeze wallets we'll be good.
That's pretty much it for the changes. Nothing too major but I wanted to keep everyone informed.
How the coins will be distributed
Those that bought in during the ICO and those that managed threads already have their coins. If you use eGoods you too should also have coins already.
Those that posted to social media will get your coins 2 weeks AFTER getting listed on the exchange.
Those who simply joined Telegram (and are still in there) will receive your coins 4 weeks AFTER getting listed on the exchange.
This is done to prevent any major sell-offs and give the coin a fighting chance at price stability.
That's about it. Any questions please ask! From here on out, unless I do another crowdsale, I'll be posting exclusively in the ANN thread for Intracoin. Thanks for watching!
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