Metrix new direction and vote on swap rateLast week MetrixCoin pushed out the following article about the new direction:
https://medium.com/@Metrix/metrix-2020-new-direction-7ef7d2e9932bThe community answered by not agreeing to the proposed swap rate and as metrixcoin wants to go back to a decentralised coin they had a poll in discord which came up with the following vote to cast:
Hi Every the vote is now open for 7 days. You can vote by sending 1 metrix to one of the following addresses. Votes will only be counted from wallet addresses that were active (had a transaction) between 20/04/2019 and 20/04/2020. ie Old addresses with no activity and new addresses wont be counted. Any transactions over 1 mrx while appreciated will only count as one vote. One vote per wallet address
To vote for a 1:1 swap please send 1 mrx to: LanocQw1p5YxqbHN5ohjtgEqrBMrBppzbP
1:1 Cons Large circulating supply and market cap can have a negative effect on lower cap coins making it more difficult for new users to invest Listing on exchanges is limited as they must trade on sub sat levels. Price can continue to fall in sub sats which makes the price difficult to understand and purchase (doge has had this issue where you couldn't purchase it with BTC due to the subsat pricing which meant you were buying it for 1 say instead of 0.1 sat, as an example) New investors could argue that the coin has no support as it has already fallen to 0
Pros Potentially minimises the loss of everyone's holdings as the price will follow the same path as Metrix is currently. Although with the continual fall in sub sats everyone's holdings are already being devalued regularly
To vote for a 100:1 swap please send 1 mrx to: LR8T7FQKchKXQbBp3SgwqXwAkJoDJhTE8X
100:1 Cons Initial price decrease quickly devaluing everyone's holdings as the price may start at 100 sats but could quickly drop to 50 sats
Pros Smaller market cap and circulating supply which can have a positive for new investors as there seems to be favour towards these economics Listing on exchanges isn't limited to those with sub sat trading a sudden jump in sat price due to the swap could bring in new investors due to a perceived large upswing