It's almost time ... 🐓
We hope everyone is gearing up for a fantastic weekend. Since our last build update, things are moving along. We have worked thru our network issues, and this week Ondori was officially born and has been living on a small network. Pre-mining is done and testing has been completed to ensure that send/receive functions, staking, and masternodes are all good to go.
The last thing we are currently working on is the Mac wallet. After this is completed, we will be able to make the wallets available for download and open the swap form to begin the swap window for the those eligible for 1:1.
Swap window
We have spent some time preparing for this swap and feel that everyone in our community has had plenty of time to be ready. In order to stay on our timeline of being done with the DIX era, we will be shortening the 2:1 swap period to 7 days.
1:1 swap period for those eligible from first snapshot (5 days) 2:1 swap period (7 days) *Those who are eligible for 1:1, but miss the 5 day period will be dropped into the 2:1 period.
Pre-mine
The pre-mine of 70 billion has been completed. We have 60 billion in swap supply ready to go for the swap period. All extra RST left over and not used to swap will be destroyed at a time TBD. In addition, the founders lock up will be cut in half and modified from 90 days to 45 days. We felt this was ok and fair to the founders who have been putting in the work to make all this happen.
Budget allocation
As we discussed in the last update, we would be allocating the first years block rewards budget portion to the treasury by way of a manual lump sum deposit (1 year). A total of 45,201,600 (86 * 1440 * 365) RST has been sent to the treasury.
*The first years block rewards are set to 774 RST per block, split between mn and stakers.
zPOS and Block Rewards
In an effort to move along with our build, Zerocoin Proof of Stake will be enabled at a later date. For now, the block rewards will be set at 774 split at 45% to POS and 55% MN.
Mercatox
We will be submitting our listing application to Mercatox after we have gone public with our blockchain and have started the swap. We should be able to hear back form them rather quickly, and an agreement on listing price will need to be met before we can confirm that Mercatox is our exchange 100%.
Before I close, I'd like to take a moment and mention that while the question of when we will swap has been important on the minds of many, it is equally as important to ask the questions of what to do after the swap is done. It's coming at any time. After all this hard work that's been put in for everyone, it should be everyone's first priority to make the value of Ondori worth all the wait and effort that's been put in.
Ondori is by no means a low Satoshi coin, unless you make it one and treat it as such. We urge everyone to keep in mind that we will have more going for us after the release then many of the coins on the market right now that sit at 15-20 Sats with nothing more than an idea behind it. Please take note and keep that in mind.
With that said, we need everyone to keep an eye out on our social media channels. We always announce relevant news updates on all of our social media platforms. Once we are confident that we have completed everything needed to ensure a smooth swap process, we will be announcing the wallet release and will begin the swap period right away. In the meant time, please stand by.
Thank you,
Kratos