As of November 29, 2019, at 6 AM UTC, the swap for eXperience Points has concluded.
If you've missed the swap, you've missed the swap. The swap window was open for a generous amount of time, and we advertised the swap on many channels including Discord, Telegram, Twitter, Blockfolio, and others.
Why did we swap?
This is really a great question, and every time it is asked, an opportunity is created to educate, so we really like to see this question! The primary reason is for adopting new features and enchancements that will bring value to the coin and community. For the coin, BIP 38 wallet encryption, SwiftX for instant transactions, and Dark Gravity Wave 3 difficulty management are being added. The codebase itself is switching to an entirely different codebase that has a reputation for being well maintained and supported by many developers across many platforms. For the community, masternodes are being added so there are more ways to earn eXperience Points, the supply is being capped to limit runaway devaluation, block rewards are switching from percentage to fixed value to better control inflation, and the overall supply is being lowered to help the coin reenter BTC, ETH, and LTC markets.
To what have we swapped?
The devil is in the details, right? Look below for a quick breakdown of technology fundamentals:
- The new codebase is a PIVX variant.
- Privacy is available, but will not be activated till issues with Zerocoin implementation are resolved.
- Swap ratio was 200:1, meaning 200 coins on the old chain had to be exchanged for 1 coin on the new chain.
- Masternode collateral is now 500,000 coins.
- Proof-of-Work, Proof-of-Stake, and Masternodes are supported.
- Proof-of-Work is reserved for coin launch and ended in first 300 blocks. Proof-of-Stake began at block 301.
- Max coin supply is now 20,000,000,000 XP.
- Premine was 4,003,000,001 XP, of which 2,000,000,000 was allocated for swapping and other issues like web wallet and Lionbit exit scams. Effective foundation premine is 10% of supply.
- Block time is now 1 minute.
- Block rewards begin at 1,200 and gradually decrease to 400. See Block Reward and Split chart below.
- Stake versus Masternode split starts at 60% versus 40% and gradually changes to 25% versus 75%.
- Coins are never burned. Stake versus Masternode for transaction fees is 40% versus 60% for the life of the chain.
|Block Reward||Starting Block||Ending Block||Duration in Years||Stake Percent Share||Masternode Percent Share||Stake Coin Share||Masternode Coin Share||Average Yearly Supply Increase|
|1,200||12||52,571||0.1||60%||40%||720 XP||480 XP||-||1,100||52,572||210,251||0.3||58%||42%||638 XP||462 XP||-||1,000||210,252||525,611||0.6||56%||44%||560 XP||440 XP||27.59% 1
||900||525,612||1,051,211||1||54%||46%||486 XP||414 XP||15.64%||800||1,051,212||2,102,411||2||49%||51%||392 XP||408 XP||11.54%||700||2,102,412||3,679,211||3||46%||54%||322 XP||378 XP||8.03%||600||3,679,212||5,781,611||4||42%||58%||252 XP||348 XP||5.50%||500||5,781,612||8,409,611||5||38%||62%||190 XP||310 XP||3.75%||400||8,409,612||30,796,911||43||25%||75%||100 XP||300 XP||1.83%|