We are excited to announce the “DBIC to DBIX Swap” as well as bonuses for early swapping.
We want the process to go smoothly for users so we strongly recommend reading the below details carefully.
The Swap Mechanism (as per Livecoin's guidelines)
As a pre-requisite go ahead and create an account over at https://www.livecoin.net.
1. The Swap date is the 18th of March 2017, this is the last day where any DBIC deposits will be accepted at Livecoin.
2. Livecoin will close deposits/withdrawals on March 18, 2017 for DBIC.
3. Livecoin will communicate to ArabianChain’s team the exact amount of DBIC deposited.
4. Livecoin will send all DBIC to a public wallet to be burnt.
5. The ArabianChain team will send Livecoin all the required DBIX for the swap at rate of 10 DBIC = 1 DBIX.
6. Livecoin will close trading for the old coin (DBIC) and cancel all open orders.
7. Livecoin will perform the swap according to specified ratio.
8. The community will receive DubaiCoin (DBIX) based on to their DBIC balance on Livecoin. This should take 1 to 2 business days.
9. Livecoin will open trading for DBIX.
10. Livecoin will delete DBIC trading pair.
11. Livecoin will test DBIX network, blockchain and nodes.
12. Livecoin will open DBIX deposits/withdrawals.
13. Swap complete.
The Bonus Mechanism (adjusted to reflect the above-mentioned process)
1. The bonus will be handled manually as Livecoin doesn’t accommodate bonus scenarios.
2. All deposits to Livecoin done prior to March 11, 2017 will be awarded with 1.5% DBIX. (deadline is March 10, 11:59 PM Dubai Time - GMT+4)
3. All deposits between 11th and 17th of March 2017 will be awarded with 1% DBIX. (deadline March 16, 11:59 PM Dubai Time - GMT+4)
4. No bonuses will be awarded after that.
5. There will be no exceptions.
Please note that any remaining currencies after the swap will be burnt.
We are happy to have you with us,
ArabianChain Team