Latest update from LEOcoin Foundation chairman, Dan Andersson:

"LEOcoin update The new LEOcoin token provides its holders with a ‘Holder’s Reward’ similar to the previous LEOcoin staking mechanism reward, without requiring you to keep your wallet open or active for staking. To participate, you must own a minimum of 1,000 LEOcoins on a specific LEOcoin token address. The reward system will be keeping daily snapshots of your total LEOcoin tokens in your address throughout the month. Your Reward will be calculated based on the average of all these snapshots. To register for the LEOcoin Holder’s Reward, any LEOcoin holder may use the official page, available at: https://reward.leocoin.org/
 
There is a new suggested wallet for LEOcoin – Trust Wallet. Trust Wallet is the premier mobile Ethereum wallet which works with any ERC20, ERC223, and ERC721 tokens, and puts the security and anonymity of users first. Now anyone can have LEOcoin3 on their iPhones or iPads too. "

Not at the moment, but we are in contact.

The mechanism is developed and works and is now in the last phase of testing. Website, user guide and the like are being prepared. Very likely in June the Holding Reward mechanism will be functioning.

About 130m ERC20 LEOcoin have been created, you can see that on the contract address.

Anyone with LEOcoin² who upgrades has gotten/ will get the same amount of LEOcoin³ tokens in return. The swap is 1-on-1. As far as I am aware off, the 'old' coins go to a 'burn-address' to get parked there. LEOcoins can only be upgraded once.

Tokens that are not 'converted' will first stay on hold, in case LEOcoin holders that missed the time-frame in which conversion is open, later wish to exchange them. I think Dan has said, this period is currently six months. Livecoin e.g. already upgraded and only uses ERC20 tokens for deposit and withdrawal. Other exchanges will follow soon.

My guess is that we could extend the conversion period, when deemed needed. In fact, we still offer conversion from LEOcoin original coins to the X11 chain (PoS LEOcoin²), so theoretically, one could still upgrade coins that originate in script-jane mining to X11 and then again to ERC20 standard. Nevertheless, I advice to upgrade your LEOcoin² for tokens, at the latest when the LEOcoin Holder's Reward is activated, so you can get maximum stake reward from your current LEOcoin2 and then immediately add the LEOcoin³ to the reward programm, provided that you qualify. The reward overview and qualifications will be published in the white paper that the LEOcoin Foundation will publish next week, but there is not much changed compared to the conditions for stake reward.

As you can see on CoinMarketCap, there are about 129,367,839 LEOcoin² issued on the current X11 blockchain. In order to 'swap' them, we accordingly need around 130m of LEOcoin³ tokens on the Ethereum chain, so all users can swap. For that they can make use of exchanges - who swap the old coins for the new tokens - or do it themselve at the LEOcoin upgrade website, that you can find here: https://upgrade2erc20.leocoin.org/.

I find your description of fairly normal upgrade/swap preparation highly peculiar, as if there would be something fishy. Yet when you are about to change 130million for 130 million, you need these available on both blockchains, right?

The LEOcoin Blockchain is not dumped. It is working and if anyone would wish to continue the old chain, that is certainly possible. As the community is not donating, or adding technical assistance that much, being on the Ethereum blockchain has certain advantages, as it means that the first layer of network security, blockchain confirmations and supporting distributed nodes is already established. Why twice invent the wheel?

There has been no blockchain vote, but the plans have been made public by the LEOcoin Foundation a very long time in advance. No objections have reached us, the major concern was if a staking reward would be offered and with the upcoming LEOcoin Holder's Reward, something similar will be offered.

As the transition from the old to the new ledger is already on its way, the move is no longer an option. The board of the Foundation - and I - are in regular contact with large LEOcoin holders, so if there would be disconsent, we have not heard about it. As LEO probably manages a majority of the LEOcoin on their own internal platform, a vote would probably not make much sense. Many of the smaller holders are not very interested in the technological side anyway; they just want to be able to trade, stake and keep LEOcoin. And that they can do on the Ethereum chain without any restrictions.

For now, the Ethereum platform has no proof of stake system, so we cannot write much about PoS on Github until Casper or other PoS proposals are developed.

However, we are finalizing our concept for the ERC20 token, which will offer similar rewards as stake did previously. This new smart contract based mechanism is called 'LEOcoin Holder's Reward' (LHR). It will be implemented as soon as possible. We are testing the website at the moment. The coding of LHR itself has already been finished by our team.

When you own a lot of LEOcoin, it is advised to further stake in your current LEOcoin² wallet, until the LHR mechanism is implemented and online.

@cryptodevil

As said many times, this thread is about LEOcoin and not about Learning Enterprises Organisations Limited (LEO Ltd) or other third party business. I see you, me and others have a different opinion. For now and for this board, I do not see much gain for the LEOcoin community to explore juridical issues. The people dependent on LEO can inform themselves in this regard with the publicly available information, I see no use to make this forum another instance of what is available elsewhere.

@all

With regard to LEO and other matters of third parties that might concern LEOcoin, I will try to keep you posted. I see no avail in commenting or discussing legal matters between the co-founders of LEOcoin. Anyone can use Google, I guess. It is sad, when people cannot find a way out of a disagreement together (which by the way is not about LEOcoin at all). It is sad, when people perhaps might lose their jobs of when debts are not paid of or when people lose the funds they invested.

This said, the LEOcoin Foundation has never sold digital currencies or any other products or services and thus we feel not responsible for the acts of others, that concern buying or selling digital currencies or any other products or services. We hope some kind of turn-around can be made, so we can all focus again on the LEOcoin ecology and its community.

Well, I will ask Mihir in this regard, as I am involved with community management and not with finances.

But, iff (if and only if) Mihir Magudia did certify, that the LCF did not spend any money at all in 2016 and 2017, then, your impression that the LCF finances the development of Leocoin was obviously false.

On the website, the Foundation does state, that the "LEOcoin Foundation is ... the guardian of LEOcoin and the architect behind the development ...". We strive to fulfill that duty. As our funds - as a not-for-profit social enterprise - are limited, in order to do so, we strongly depend on gifts and we gladly embrace the support of third parties when, e.g. an event is organized. Good for us, is that - for the most of it - thinking, presenting, representing and brainstorming is for free ...  

As Foundation, we are very happy, with what has been achieved over the last few months and we sure do hope, that it will be of benefit to all LEOcoin holders.

There is no reason to think, that the Bitcoin Forum user CryptoDevil would be Mr. Kamran. If you have evidence in this regard, please share this with us, otherwise please refrain from rumours.

Swap also available on Livecoin


Link: https://www.livecoin.net/en/news/view/154

Also the introduction page has been adapted for the LEOcoin3 version.

See: https://bitcointalk.org/index.php?topic=1545712.msg15537927#msg15537927

LEOcoin Foundation's chairman Dan Andersson yesterday announced the LEOcoin3 project as online:

"LEOcoin 3.0 Etherscan monitors the coins on the Ethereum blockchain and provides analysis of the market activity. Now that LEOcoin is live on the Ethereum blockchain you can see all the information on the Etherscan LEOcoin page. When you have your wallet you will be able to see your transactions in your own wallet on this site as well using your own wallet address. 

What will you need to do to move to the new token? 

- If you are a LEO Member and hold LEOcoins on the LEO Back Office, then you must log into the LEOcoin Member Platform and choose to Upgrade your LEOcoins. 
- If you hold all your LEOcoins on external exchanges like LIVEcoin, TopBTC or LEOxChange, then you do not need to do anything. Your LEOcoins will automatically be upgraded to the new ERC20 LEOcoin token. 
- If you hold your LEOcoins on an external desktop wallet or a mobile wallet, complete the upgrade procedure by going to the upgrade website. 
-  Full support is available 

Full instructions and Frequently Asked Questions will be available on the LEOcoin web site. If you need any help, you will be able to raise a Support Ticket in your back office or use the form on the LEO ‘Contact us’ web page. There is no rush, both versions of the LEOcoin will be available for at least the next 6 months. 
 
To upgrade your LEOcoins you will need a wallet that is compatible with holding Ethereum tokens. There is a wide choice available in the market with many different functions and features. A document that describes one with which we are familiar – Atomic - will be available on the LEOcoin.org web site at launch. Atomic wallet is just one of the wallets that you can use to hold your LEOcoin 3.0 ERC20 tokens"

Links:

- LEOcoin token tracker: https://etherscan.io/token/0xf97b5d65da6b0468b90d531ddae2a69843e6797d
- LEOcoin migration website: https://upgrade2erc20.leocoin.org/
- LEOcoin website: https://www.leocoin.org/

Sorry for not reading your post correctly and mistaking a quote from user 'DigitalBadAss' for your own statement. My reply - to his conclusion, remains standing though.

As I was not there when LEOcoin was created and as I formed no part of the LEOcoin community at that time, I cannot confirm for what reasons it was created. I know that it was created as a normal digital currency, with a working blockchain, proof-of-work support from miners and so on. Nothing shaddy there. LEO Ltd. has always stated, that they wished to introduce digital currency to their member base and build up a merchant-payment network, so that is nothing strange either.

I did mine LEOcoin and at that time, it was an exciting and promising coin. Again, I wish to point out, that Andersson and Kamran and others speaking on behalf of LEO Ltd., repeatedly denied selling pre-mine. All other LEOcoins have been mined or staked, and thus I regard it fully legitimate to trade them, by whomever does own them on whatever exchange of their choosing.

Whether or not LEOcoin3 will be much different of other ERC2.0 tokens remains to be seen, but at least it will be running on a safer and more advanced blockchain platform with the possibility to use LEOcoin3 in other apps, like decentralized wallets, payment systems and the like. I cannot share your conclusions, with regard to 'demand' and whether or not LEOcoin has existence rights - fact is, that LEOcoin does exist, has a working and running blockchain and it also has value. If you like the creators, the owners or businesses working with LEOcoin or not, that is not relevant for these facts. For its existence a blockchain is not dependent on a MLM network, or a company behind it, so whether or not such companies are in a phase of growth or decline, is not entirely irrelevant, but as long as the blockchain keeps running and is maintained, LEOcoin is alive. It is for this reason, that I have disagreed with your assessment, that LEOcoin would need or require a MLM structure. Yet, it is of course true, that most LEOcoin owners are or will have been involved with LEO Ltd. in one way or another. Just as many of the founders and their teams who developed other crypto currencies and ICOs will have had a core group behind them. No business, crypto or old-economy can be build, without support of investors, customers and co-workers.

The future will show, what purpose LEOcoin3 still has.

Dear Sir/Madam cryptodevil,

the conclusion in your reply was: "Andersson fires him to shut him up", which was not proven in the law case, as the accusations by Mr. Atif Kamran were not object of the case, but the question, whether or not the dismissal of Atif was in agreement with UK regulation. By the way, I hope these accusations are not true, as this might harm the LEOcoin community. And like you, I have seen this statement in the courts documentations with regard to LEO Ltd. financial situation, but again, LEO is a third party, for which I clearly cannot speak. But these issues do worry me too, as they could backfire on the community. For my stance on the whereabouts of Mr. Andersson, please see my previous reply. Nothing has changed in this regard and I see no need for you to ask about this repeatedly.

I do however strongly disagree with your assessment, that LEO would be the MLM structure behind LEOcoin. LEOcoin is a crypto currency on a blockchain. It was 5% pre-mined by the co-founders, Mr. Andersson and Mr. Kamran. The majority of LEOcoin (at that time) was mined by proof-of-work delivered by miners and their RIGs. Also the move to a solely proof-of-stake mechanism in 2016 was a normal move for a cryptocurrency and did benefit the environment -  by reducing energy (waste) caused by mining hashes - and the LEOcoin holders, by having them participate in new LEOcoin creation in a fair, decentral, democratic and distributed way. Today LEOcoin is still owned by those who hold LEOcoin in their wallets and these holders can freely exchange their holdings in LEOcoin on several exchanges. Currently, the market capital of LEOcoin according to CMC is a little below 10 million US-dollar, with around 121 million LEOcoin in circulation.

With regard to the true or pretended true allegations of Mr. Kamran - which he did bring up in the documentation accompanying the court verdict - I fear, that I cannot say much. It is your choice to call these allegations 'evidence', but as none of these claims were proven or discussed in court (at least I do not see any reference to these claims in the verdict), I rather opt for the word allegation. As this concerned a court case between a third party and one of its directors, I also do not see, why I should say something about this case that neither I, nor the LEOcoin Foundation were involved in, except for what I have already stated.

Positive, is that the outcome of this case did not greatly have impact on the LEOcoin price levels, which displays the balance between supply and demand. I assume that the outcome of this legal dispute was already prior to the verdict calculated into the price of LEOcoin, or perhaps, LEOcoin holders do not take Mr. Kamrans accusations to be very relevant.

I do hope, that the anticipated move to the Ethereum platform will enable LEOcoin to move on and find ways to increase in value, ease of use and more transparency. The LEOcoin Foundation is in contact with exchanges and other parties in the crypto world, so we can find good and appealing ways ahead.

As far as I am aware of, there is no reason why the LEOcoin Foundation CIC would be, or has been struck from the register, so thus no reason for any 'news' on an administrative filling.

From Dan Andersson, LEOcoin founder (25-02):

cryptodevil, I was due to health reasons not able to reply ... but I will have a look at your questions, and at your speculative interpretations ...

As these documents are public and partially could be relevant for the LEOcoin community, I let your post stand. Even when I find your conclusion premature and insinuating. However, I cannot speak for third parties, like mr. Kamran or Learning Enterprises Organisation Ltd. or the like. So, the court will have to decide on matters. I will have to read the documents a few more times, and if I see it necessary, I will add further thoughts.

The documents are obviously from the employment tribunal, but anyway; when you state "court findings against Andersson" I have to point you at the fact, that the allegations made against Mr. Andersson were not subject of this case, nor have they been discussed. They are mentioned as the opinion of Mr- Kamran, not as proven facts. This case was about the abrupt end of the employment relationship and whether or not this was according to employment law. I am not taking any stance on this, as said, and allegations could be true or false. For that reasons I labeled your conclusions as preliminary. Rest assured that we all are following the developments that relate to LEOcoin with great attention.

According to the documents filed, Dan is waiting to be removed from the Exit Control List (ECL) in order for him to leave Pakistan. As said before, his work for the LEOcoin Foundation was never in jeopardy.

Hi and thanks. I am checking how to proceed, but I will reply to you with a solution shortly.

For now, you can already start with downloading and installing the current LEOcoin wallet, so this can synchronize with the blockchain. You will need the V3 wallet anyway, in order to receive your coins.