As we've explained before to different users that asked us, this Hive's TLNT token shares nothing with Steemit's TLNT token, except its name. We tried to explain to Steemit's TLNT tribe token holders, that we didn't do a token migration because this new token has a totally different system implemented than Steemit's token.
To be more precise and make clear some of the differences, we want to highligt them here, once again:
Steemit's TLNT tribe token
- No club's curation rewards attached for holding the token.
- Airdropped to some users for free.
- Earned for free if the club upvoted on your posts, due to club's token staking.
- Earned for free through time, due to staking rewards that contract automatically issues.
- You could also buy it on the market.
Hive's TLNT token
- Club's curation rewards attached for holding the token.
- No airdropped to anyone.
- No earned for free if the club upvotes on your posts, because the club has no staking of it.
- No earned for free through time, because the staking contract is not activated.
- You can only get this token by buying it on the market, mostly to the club, and not by any other means.
Also to note that Steemit's token had 5B of Max. Supply and Hive's token has 100M of Max. Supply, and sale prices set were different.
Our main reason to, at first, don't think about compensating any token to Steemit's TLNT token holders was that most of the part of their balances are earned for free, even today, due to contract keeps actually issuing more tokens for free to holders with staked balances.
But after thinking about it deeper we got to the conclusion that maybe some of these holders had purchased directly to the club some part of their token balances, at sometime years ago, when the club still had tokens for sale on the market.
And we reached a consensus where the club is taking into account that, although some users bought a different token, whatever it was, they invested in some way in an old stage of the club.
This is our vision regarding this matter and we're willing to compensate, somehow, those users that trusted on us once.
Obviously, the differences between the tokens are abysmal and the new token carries benefits that few tokens on the Hive blockchain (if there are any that grant them) ensure, with the exception of ours.
This is why, obviously, the ratio of conversion is not going to be 1:1 and, moreover, receiving them will be attached to meeting some requirements to get the Hive's token.
Requirements
- Send us a proof of your Steemit's token purchase; a screenshot in the comments it's ok.
- We're only taking into account user's accounts with balances equal or higher than 70,000 Steemit's TLNT token.
As we said previously, a large part of the balances from the majority of holders, have been earned for free so we are only going to offset the balances actually bought from the club in the market.
Here some examples, in a pair of images, of what we're looking for:
In the first image we have highlighted a direct transfer from the club to a user who bought directly from the club (without going through the market) by sending STEEM to its account and receiving the tokens in her account along with a memo that says: "Token Purchase".
In the second image we have a purchase of tokens from a particular user to another who sells them. We are looking for the same type of transaction but for the sale to be made by the club, as we highlight in the box.
The price that we have taken into account to establish a conversion ratio has been the initial sale price of Steemit's token and the actual price of the Hive's token, wich is stable during this year :
This means that, you could have bought 10,000 TLNT with 1 STEEM ($0.15 on September, 2019, launching date), against buying now 38 TLNT with 0.375 HIVE ($0.15 on May, 2021).
That would make a 1:0.0038 ratio if it were a same kind of token with just different prices set. But it's not the case.
As we consider that our new Hive's token is far more valuable than Steemit's, not only in price but in concept, rewards attached in monthly liquid $HIVE payments from club's curation rewards and possible future revaluation of the token, we're setting a final ratio of 1:0.0010
Note 1: We're only taking into account balances greater than 70,000 Steemit's TLNT token because that represented, in those years, a purchase of 7 STEEM or, speaking in dollars, $1.05 purchase.
Note 2: If you bought the tokens from us, at a higher price than the specified in this post, for whatever reason, we will recalculate the conversion for your specific case.
Note 3: We will only compensate the amount of tokens in which you can show that you bought that amount to us exclusively, regardless of your current total balance.
We're going to mention, following the Steemit's TLNT Richlist info, those users who we think they might meet the requirements (at least speaking in terms of total balance), but that they will have to show us their proof of purchases, one way or another:
Note 4: If you don't appear in this list possibly due to you having your entire balance on a sell order in the market, please cancel the order and let us know to recheck your case.
Note 5: Those user with "0" balance because they already sold, at anytime during these years, their Steemit's token, won't be taken into account for this compensation.
Note 6: There won't be no other case, no other way, to compensate the Steemit's tribe token, different from those listed in this article.
Note 7: We won't close the window period to be able to show us the proof of purchase and carry out the compensation, during this entire 2021 year, so there's no hurry for you to reach the data.
Note 8: In case someone has not understood the content of this post or does not want to understand, for whatever personal reason, we clarify and shorten the message: This is NOT a token migration, as they are totally different tokens, only sharing the same name, put by mistake. This is a token compensation for those users who at some point bought us any quantity of Steemit's tribe token, directly to the club, thus contributing in some way to its financing at a different stage of the club.
Final Note: This club is no longer operating on Steemit platform and it's only focusing all its efforts on Hive platform, officially. We highly recommend you to forget about anything related with Steemit platform, including this club itself, its activity or any of its products created there.
Do you want to know more about our Hive's TLNT token and its outstanding benefits? So check out Introductory Article, Monthly Payment and Buy & Burn articles.
Do you want to know more about us, who we are or our system? So check out our About Us article or visit us on our Discord server and take a look there. You can also read a bit about us at the bottom of our Daily Club Reports.
