after countless hours of coding and testing now it's time to release the new GOSSIP 2.0 blockchain.
1. Technical details GOSSIP 2.0 Blockchain
- Swap ratio: 10:1
- PoS/MN system without PoW
- Premine: 19M for the swap + 6M possibility to swap other projects to GOSSIP
- Block time: 90 seconds
- MN/PoS ratio: 65% MN / 35% PoS
- Masternode collateral: 9999 GOSS
- Governance proposal fee: < block 277,777 = 100 | > block 277,777 = 50 GOSS
- Governance funds: max. 10% from the block rewards
- Coin maturity: 59 blocks
- Minimal coin age for staking: 2 hours
- Codebase: PIVX 3.x
- Code fork from: PHORE
- Integrated governance voting function in the wallet
- Easy masternode setup function in the wallet
Planned start: 22nd March 2019 - 5 p.m. GMT +0
We have our own swap platform (which was used too for the CSPN swap). The swap will be possible till 31nd August 2019 5 p.m. GMT +0. We will set up 3 steps so that we have a reason to leave the old blockchain.
- 22.03 - 22.04. = 10:1
- 23.04 - 30.04. = 15:1
- 01.05 - 31.08. = 20:1
Example: We are in Phase 1 and the swap ratio is 10:1, the ROI before the swap was 295%. On the 25th March the ROI is 505%, because many people swapped their coins but we have masternodes in the old chain still running.
We will calculate: ROI of 295% to a swapfactor 10 = ROI of 505% to a swap factor of X
Result: ROI 295% to 10 = ROI 505% to 17
It means, the swap factor will be 17:1 and will be same same like the 10:1, because you earned more coins on the old chain than the people which changed immediately.
If there are less than 50 masterternodes on the old blockchain for more than 5 days, we reserve the right to shut down the old chain, because it has no value to maintain the old chain with a few nodes which didn't change. In this case, we will manually exchange the old coins to the new one.
We spoke with Graviex and CryptoBridge. For Graviex the swap is not the problem at all. All will be the same (name, ticker, logo, etc.)
For CryptoBridge can only work a 1:1 swap, all other swaps they can't handle. The coin must be new listed. The standard listing fee are 3 BTC now. During the last weeks (or months), our trading volume on CryptoBridge is nearly 0$. To relist the coin on that exchange is worthless. The main idea is here to list on another exchange, like Crex24 or so. The listing fees on Crex24 are actually around 0.6 BTC.
Update: Even to list new can't work on CryptoBridge. It is not possible for them to add us under the same ticker. So we can only delist GOSSIP from CryptoBridge and to find another exchange.
4. Reward table
5. Further plans, purpose of GOSSIP
I think this point will be the most exciting. The new chain is running, what do we want to do with the GOSSIP coin?
In short: We want to offer services around the blockchain. The payment for this will be of course in GOSS.
How it looks in detail:
- Social Media
- Blockchain Development
- Tools Development
- Swap Service
All this will be write down to the whitepaper, which is the next task after the swap. When the whitepaper is done, we will create a new website with an integrated webshop for our products.