Re: [ANN][Cryptonight][Low Supply]Introducing BOLD - Fast, Private and Connfidential
As I understand it, 46% of supply has already been premined and set aside for users of the old token to exchange for new coins.
What happens after the initial exchange period is over and most of those who wish to exchange have received their new coins? Where do these funds go? Who is controlling those coins?
What happens after the initial exchange period is over and most of those who wish to exchange have received their new coins? Where do these funds go? Who is controlling those coins?
Hi, thanks for the question.
Please refer to page 1 of this thread:
Quote
All current holders of the out-going BOLD tokens are able to exchange their tokens for the Bold coin at a 1:1 ratio. Token-Coin swap will be open from July 3 to August 3 2018, and instructions for swap can be found on the official BOLD website here.
* All BOLD Tokens will be "burned" at the end of the swap period
* UNSWAPPED BOLD COINS (coins set aside for the purpose of the swap, but which were not actually swapped), at the end of the swap period, will NOT be "burned" - instead, they will used to set up a Community Fund.
After August 3rd 2018, ALL uncirculating tokens will be "burned". The BOLD tokens will be withdrawn from exchanges. Holders of the token will not be able to trade them after August 3rd 2018 - existing tokens will be worthless.
Thanks.