BTCD Valuation for the swap
In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August. The swapping process will take place after the ICO and detailed information will be posted soon.
If you are a BTCD holder, keep an eye on the BTCD thread. Tomorrow we will post more information there, such as what does this mean for BTCD.
In order to simplify the BTCD to KMD swap, a fixed exchange rate of 1.0 BTCD to 0.00532074 BTC was established, meaning that if you send one BTCD you will receive 0.00532074 BTC worth of Komodo. This exchange rate was determined by adding a 50% bonus to the daily closing price average of August. The swapping process will take place after the ICO and detailed information will be posted soon.
If you are a BTCD holder, keep an eye on the BTCD thread. Tomorrow we will post more information there, such as what does this mean for BTCD.
Does the BTCD swap also get the deposit bonuses, ex. 1st day +25%? Would be fair imho.
The BTCD holders got a 50% bonus on the average closing price of august. The price of the last days was close to the fixed swap rate, but we couldn't know this before. The formula for the swap rate was set before August and cleared by James.
The time-bonus is for BTC investors, the BTCD swappers will only be able to swap after the ICO is done, so there is no need to incentivize early swapping.
The reason for all this is pretty simple the project needs to raise funds so James and his team can create the tech for all this and finance the dPoW algorithm. This is only possible with the freshly raise BTC.
