NOOP Network (EOSIO airdrop to BTC addresses)

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NOOP Network (EOSIO airdrop to BTC addresses)

NOOP Network is an EOSIO blockchain that is fully airdropped to roughly 20 million BTC holders based on a snapshot that will be taken at block 675,000 660,000.
For everyone to be able to join this airdrop, the following conditions must be observed:

1. Only unspent BTC P2PKH address (pay to public key hash) will be considered. These are bitcoin addresses starting with 1, and not 3 nor bc1.
2. Only compressed BTC address will be considered.
3. Segwit addresses will not be considered.
4. Only addresses with 10,000 satoshis or more will be considered.
5. Each address will have a cap of 1 BTC. If you have more than 1 BTC, you have to create multiple addresses to maximize the NOOP you receive.
6. The conversion will be 1,000 NOOP per 1 BTC.
7. You must be able to create a signed message using your bitcoin wallet to prove ownership of the bitcoin address.
8. You don't have to reveal your BTC private key. Your signed message will be enough to claim your NOOP and have your account created.

Phases:

1. Snapshot at block 675,000 660,000.
2. Launch of NOOP as a PoA chain and loading all qualified BTC UTXO into the smart contract.
3. The smart contract will be activated and everyone will be able have their NOOP accounts created and NOOP tokens claimed.
4. All the NOOP holders will decide when to switch from PoA to DPoS based on their votes, once 150,000,000 NOOP has been used to vote, the chain will automatically switch from PoA to DPoS and governance will now be handed over to the top 21 block producers that everyone voted for.
5. The chain will now be DPoS and 15 of 21 voted producers can make changes like upgrade, change inflation, project funding from newly minted NOOP, increasing RAM, etc.

Initial chain parameters that matter:

100 GB RAM vs 1M NOOP in rammarket table with no RAM inflation.
1% inflation that all goes to block producers.
150M NOOP activation threshold from PoA to DPoS.

Note:

While on PoA, we can modify the system to lower the threshold of activation to DPoS.

Extra opportunity:

Due to the nature of EOSIO, an account can only be created by someone with an already existing account. Someone who wants to claim their NOOP will need someone with an account to help them. The one who helps will get 0.005 NOOP taken from the one who claims.

Developer Share:

Each time someone claims their NOOP, they only get 90%, the 10% of their claim goes to the developer account.

RAM Costs:

Each account will cost some RAM when it's created. The minimum RAM needed is 3,000 bytes. The cost of RAM is based on a bancor algorithm. This cost will be taken from the account who claims.

Finally,

It is still a few days away until block 675,000 660,000 so there is enough time for every BTC holder to plan if they are interested to join. There are about 24M UTXO addresses as of the moment.
The following information might help if you plan to join NOOP:
1. Although most BTC addresses are now compressed, in case you have BTC from long time ago, you can move it to a newer address, chances are it will be a compressed address.
2. If you have more than 1 BTC in a single address, you might want to break it into multiple 1 BTC addresses.
3. If you have BTC in segwit addresses, you might want to move it to p2pkh addresses.
4. If you have dust BTC in multiple addresses, you might want to move it into 1 address to be able to make the 10,000 satoshi minimum.

Those familiar with EOSIO might find these information easy to understand, those who are not familiar might initially have some difficulties, don't worry help will come. Also, everyone is welcome to declare their intention to become a block producer as early as now to let the community know you more.

Telegram Channel: https://t.me/noopchannel
Telegram Chat: https://t.me/noopchat

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We have done the tests of our smart contracts and it was successful. Since it takes time to load roughly 20 million utxo records, we are moving the snapshot earlier at block 660,000.

There are also some changes:

1. Each time someone wants to claim their NOOP and have their account created, there will be a 1% reward for someone who helps. This will encourage those who have accounts to convince those who have not claimed to claim their NOOP. This means if you have 1 BTC or more, and you want to claim your free 1,000 NOOP, you will need help from someone who has an account already to post a transaction into a smart contract named eosio.claims, your 1,000 NOOP will have 100 NOOP deducted that will go to the NOOP developer team, and another 10 NOOP that will go to the one who will help you. You will have 890 NOOP left, a portion of it will be used to buy 3,000 bytes of RAM, 0.0001 NOOP will be used to stake to your NET resources, 0.0001 NOOP will be used to stake to your CPU resources, and the rest will be available in your account as liquid balance. The minor change in calculation will encourage more participation from everyone and will act as "referral reward".

2. The new calculation will be, for every 10,000 SATS you have, you can claim 0.1 NOOP with a cap of up 1,000 NOOP per BTC address, less the 10% developer share and 1% referral fee. The rest will go to your account (a little portion of it will be used to buy the minimum RAM needed to have your account created).

3. On block 660,000, we will take a snapshot and will boot up the system and load all the data into eosio.claims, this can take days and we will post updates. After that, there will be instructions that will be posted on how to interact with the NOOP chain.

We are very excited with what we are seeing and this is in a way a good experiment regarding EOSIO governance and how EOSIO can scale with this potentially massive airdrop. We leave our fingers crossed.

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We now have our telegram channel and group:

Telegram Channel: https://t.me/noopchannel
Telegram Chat: https://t.me/noopchat

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Just to have some perspective:

If the snapshot was taken at block 650,000 there would be 16,921,444 bitcoin addresses that would qualify and if everyone of them will join, there will be a total of 890M NOOP that will be issued.

If the snapshot was taken at block 656,000 there would be 17,257,305 bitcoin addresses that would qualify and if everyone of them will join, there will be a total of 879M NOOP that will be issued.

In about 2 days block 660,000 will be mined and we will be taking the snapshot shortly after that, the numbers would not be that far from those above unless the big holders or the exchanges will decide to join and split their bitcoin into multiple 1 btc addresses. Even so, we expect NOOP to have the best distribution curve, in fact even better than bitcoin.

If we did not put a cap of 1 BTC, the biggest address will still have less than 0.1% of the supply. Capping the maximum at 1 BTC means that those who are really interested with big holdings must do some effort to maximize their NOOP. This will basically be a cryptocurrency for the masses, those with 10,000 sats to 1 btc.

We initially set the activation to DPoS with 150M of the supply used to vote for producers, as originally in the eosio.contracts released by b1, but depending on how the NOOP chain supply within the first few months will be, we might decide to lower the activation threshold.

We will be owning 10% of the supply issued and we intend to allocate a substantial portion of it to provide grants to those building on the NOOP chain, subject to the value of NOOP and to our assessment of how the projects built will help the chain and bring value to holders.