Our goal is to burn at least one altcoin every 30 to 60 days. Our options of which new coins we can afford to burn, and how many, and how often, will depend on the price of BARR.
To vote for which coin we will burn during the next period, send BARR to our Market Fund with a message attached indicating the coin you're voting for. 1 BARR = 1 Vote. Voting ends at 00:00 GMT on the 1st of each month, and burns are currently scheduled from the 14th to the 28th of each month.
Swaps for burned coins will be done at a fixed rate - we will announce each coin, its exchange rate, and the period for which the offer will be available.
Burn Period #1, November 1 to November 30, 2015:
Fractalcoin (FRAC) at .5 BARR per FRAC (2 FRAC for 1 BARR), with a buy-support target of 5000 satoshis per FRAC on market
Keycoin (KEY) at .5 BARR per KEY (2 KEY for 1 BARR), with a buy-support target of 5000 satoshis per KEY on market
Sapience (XAI) at .75 BARR per XAI (~1.33 XAI for 1 BARR), with a buy-support target of 7500 satoshis per XAI on market
- - Burning Altcoins for Redemption and Reduction (BARR) at 1 OFFS per BARR (1 BARR for 1 OFFS), with a buy-support target of 10,000 satoshis per BARR on market
The burn address for Fractalcoin is FVAiSujNZVgYSc27t6zUTWoKfAGxc8CEW5
The burn address for Keycoin is K7D9JtQxx7rRoWGu6szLpeFQKhbSzyUbC8
The burn address for Sapience is AFmseVrdL9f9oyCzZefL9tG6UbvhPbdYzM
These burn addresses can be verified as unspendable because they return a hash with a long string of zeroes.
The burn address for BARR is NXT-HD9P-ZTPP-EHFJ-59VUC
This is the address for the Burn Fund, and coins are removed from circulation by sending them here. They cannot be re-sent until they are re-earned with another proven burn transaction of altcoins.
Burn Period #2-A, December 1 to December 30, 2015:
- - ACP Anarchists Prime at 05 BARR per ACP (20 ACP per BARR) with a target price on market of 600 satoshis per ACP
- - Wild Card: LYB Lyrabar at .5 BARR per LYB (2 LYB per BARR) with a target price on market of 6000 satoshis per LYB
- - BARR for OFFS at .9 OFFS per BARR (~ 1.111 BARR per OFFS) with a target price on market of .00012 BTC (12,000 satoshis) per BARR
The burn address for ACP is 1111111111111111111114oLvT2
The burn address for LYB is LKDxGDJq5fF4FohAB8zJH24mDDNHDNtqsE
The burn address for BARR is NXT-HD9P-ZTPP-EHFJ-59VUC
Burn Period #2-B, January 1 to January 30, 2016:
- - To Be Decided
PLEASE NOTE: In case of emergency, double-spend attack, stalled or forked blockchain, block explorer failure, or other disastrous unforeseen circumstances that may interfere with our ability to conduct burn exchanges, we may end the burn period early. So if you're planning to burn your coins for BARR, don't procrastinate.