Re: [ANN][KMD][dPoW] Komodo ICO - Zcash Zero Knowledge Privacy Secured by Bitcoin
I was a signature participants and I opt for KMD payment, can I participate in voting? as far as I know signature participants are not going to get their tokens any soon,does it mean we would not be able to vote?
The KMD bounties and payments will be done after the election, so you cannot vote with them. This includes the KMD salary/bounty payments our team members will receive, which means the elections are decided by the investors.
Why do we need 2 weeks for notary node elections? This is the first election and as it appears, all the candidates are very likely going to get elected. So what's the point in making the process that long?
The elections are important, and we must give enough time for everyone to participate. No ninja elections
We understand that everyone would like to see KMD on the markets, but basically there's no real rush to do this. We want to make sure we get a good network up with quality notary noes, thus 2 week elections.
Can one of the leaders give some more detailed information about the Snapshot stuff
Certainly!
I'll try to clear out all the uncertainty & misunderstandings
We try to swap all BTCD there exist throughout 1 full year. If someone has BTCD it can be swapped, no matter when it is bought. You could buy BTCD 6 months from now and swap it for KMD.
BTCD Snapshot to get REVS
- The snapshot is not related to BTCD swap.
- The snapshot is to get an additional asset called REVS.
- The privatekeys are used to redeem the asset.
- The snapshot has not happened yet!
- to participate the BTCD can be stored either in a BTCD address under your control, or in our ICO site
BTCD Swap to get KMD
- has nothing to do with the snapshot
- is done through the ICO site
- lasts 1 full year
- swapped BTCD ends up to our account, where it is publicly visible (nothing will happen to the swapped BTCD)
- hopefully every single BTCD coin will get swapped during the year
Schedule
- ICO site accepts BTCD
- 7 days after that BTCD snapshot happens & the swapping begins
- Elections begin, and last 2 weeks
- Elections are over, elected notary nodes will get ratified, KMD will be distributed
The conclusion
If you buy BTCD it can be swapped at any time. To also receive the REVS asset you need to have a privatekey that contained BTCD during the snapshot. BTCD swap and snapshot are two separate things.
During the year BTCD can be swapped for KMD with the exchange rate we announced: 1 BTCD = 50.448 KMD (However the exchange rate decreases slightly throughout the year because BTCD staking expands the supply)
We try to swap all BTCD there exist throughout 1 full year. If someone has BTCD it can be swapped, no matter when it is bought. You could buy BTCD 6 months from now and swap it for KMD.
BTCD Snapshot to get REVS
- The snapshot is not related to BTCD swap.
- The snapshot is to get an additional asset called REVS.
- The privatekeys are used to redeem the asset.
- The snapshot has not happened yet!
- to participate the BTCD can be stored either in a BTCD address under your control, or in our ICO site
BTCD Swap to get KMD
- has nothing to do with the snapshot
- is done through the ICO site
- lasts 1 full year
- swapped BTCD ends up to our account, where it is publicly visible (nothing will happen to the swapped BTCD)
- hopefully every single BTCD coin will get swapped during the year
Schedule
- ICO site accepts BTCD
- 7 days after that BTCD snapshot happens & the swapping begins
- Elections begin, and last 2 weeks
- Elections are over, elected notary nodes will get ratified, KMD will be distributed
The conclusion
If you buy BTCD it can be swapped at any time. To also receive the REVS asset you need to have a privatekey that contained BTCD during the snapshot. BTCD swap and snapshot are two separate things.
During the year BTCD can be swapped for KMD with the exchange rate we announced: 1 BTCD = 50.448 KMD (However the exchange rate decreases slightly throughout the year because BTCD staking expands the supply)