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pure_swap_faq.md

Swap by Coinexchange

Please have all your pure v1 coins deposited in https://www.coinexchange.io/market/PURE/BTC before July 3rd (Countdown Timer)

Why do we need to swap?

Pure Swap gets us better code quicker, and allow for payouts from Puredex (click to see short video demo) which will be released by the end of Q2.

Key points of new coin

  1. Pivx has a better codebase
  2. Queue based Masternode rewards
  3. Reducing inflation and supply
  4. Better track of masternode statistics so that puredex will reward more mature Masternodes.
  5. Governance and budget system
  6. Obfuscation
  7. Bip 38 Encrypted Wallet

After Swap we will have a token Airdrop at 1:1 to Pure holders. These tokens will be used for Smart contracts and DApps. Exact time for this platform will be announced after Puredex is launched; but estimates are Q3/Q4.

When will swap happen?

It will happen July 3rd. Swap ratio will be 2:1 meaning that you send 2 pure in return you get 1 pure. Masternode collateral will stay at 5k but due to 2:1 swap you need 10k or 2 masternodes to have 1 masternode after the swap. If you don't swap on July 3rd your coins on the old chain will be useless.

New Pure Specs:

  • Proof of Stake (PoS)
  • Block time: 60 seconds
  • Max supply 21 Million
  • Block reward: 20
  • Masternode 15
  • Staking 5

FAQ

I have only one masternode now. What will happen to me?
You need to buy more if you want to keep running a masternode after the swap.

How will the swap work?
https://www.coinexchange.io/ will host the swap. Deposit all your coins on that exchange before the 3rd of July.

Someone private messaged me saying they can swap my coins
Don't trust them. Report to a mod on the sidebar even it the usernames look the same they can be different people; this is why mods have a different color.

Why was 13m premined, and what will happen with it?
The premine is so each swap bot can handle most of the swap if needed. The extra coins after the swap will be burned. crypto-bridge was going to be the other swap bot, but at this time it looks like that will not be the case.

I just bought some coins, can they be used for the swap?
Yes all coins bought and generated are currently eligible for the swap. Be sure to transfer them to your wallet on https://www.coinexchange.io/ before July 3rd.

@cryptopoly
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Love it - nice work

@MorgothCreator
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Great joob 👍

@developerinlondon
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is there a guide on how to upgrade the masternode?

@SillaceMiningInc
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Zoldur has a 2.0 script if you look in his repositories

@mikeytown2
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@SillaceMiningInc
Zoldur's masternode script will take a long time to sync and is limited to 1 pure masternode per VPS. I'll be releasing the V2 guide 1 hour before the swap starts which has a 8 minute video showing 2 masternodes starting up from 1 IP/vps as well as the script to run in order to do so. It's easier to use than Zoldur.

@cryptopoly
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cryptopoly commented Jun 8, 2018 •
edited

Mikeytown2 is bossman. Has everything covered

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