After the ERC-20 EOS token distribution ended on June 1st at 22:59:59 UTC. Per the EOS crowdsale Ethereum smart contract, the ERC-20 tokens will be frozen for 23 hours.
The ecosystem will be wrought with scams during this time. Do not import your private key until you have seen a joint statement released from at least five Block Producers that you trust which states when it is safe to do so.The EMLG (EOS Mainnet Launch Group) will use the official snapshot tool to produce a final Snapshot of the frozen ERC-20 EOS tokens.
After the Snapshot is taken will be verified by EMLG and third parties.Once the snapshot has been verified, Appointed Block Producers will be established within the launch group.
These Appointed Block Producers are temporary and only exist to ensure that the network is booted correctly and stable throughout the verification and voting process. No block rewards are awarded at this time.Testing, once Appointed Block Producers have completed the boot process and ensured that the token balances are correct the network will be opened for third party verification.
The EMLG will clone the network at this stage and conduct their own in-depth acceptance testing as well. This stage will continue for a 48-hour period to allow for the completion of these tests.
Enable, at this stage a statement will be released by the EMLG and the network will be opened to the general token-holder community. For an EOSIO chain to be considered enabled, 15% of all tokens must use their private keys and stake votes for at least one Block Producer. The length of this phase will be as long as it takes for the token-holder community to act.
Do not import your private key until you have seen a joint statement released from at least five Block Producers that you trust which states when it is safe to do so.Activation once 15% of tokens are staked and used to vote the chain is considered valid and normal functions are activated. All Appointed Block Producers will be immediately replaced by the Elected Block Producers that have been voted in by the community.
- The EOS mainnet is the first step toward a new generation of blockchain technology that will fundamentally affect how we interact with one another. We look forward to sharing this experience with you, the token holder. Thank you for your support.