Topic: Koinos KOIN Snapshot ANNOUNCED (Read 144 times)

Hey bitcointalk! On November 6th, 2020 we shared an update on this forum about the launch of a proof-of-work mineable ERC-20 token (KOIN) that would act as the native currency for the Koinos blockchain; an evolving, free-to-use, and truly decentralized blockchain with proof-of-burn consensus, built by the former core developers of the Steem blockchain. In order to launch this new L1 fully decentralized, a snapshot of the ERC-20 would be used in the genesis block of mainnet to initialize all token balances.

On August 19th, 2022 we launched version 0.4.0 of our testnet (Harbinger) which includes all of the features we have spent the last two and half years building to deliver on that original promise by bringing to market the world’s first truly free-to-use, truly decentralized, and truly evolving general purpose blockchain (“L1”).

Harbinger V4 has now processed its 450,000th block and performance continues to be fantastic! That's why we're excited  to announce…


The date of the snapshot will be October 31st!


Yes, this is going to be one spooky Halloween because following the snapshot, the KOIN ERC20s will become effectively worthless. That's because the mainnet tokens will give people the Mana they need to banish gas fees to a fiery grave and participate in proof-of-burn consensus.

The snapshot will not take place any earlier than Mon Oct 31, 2022 00:00:00 EDT (12:00 AM). It can happen at any point after this time.


Snapshots are scary, which is why we're giving well over a month's notice for everyone to get prepared. Those who want to claim tokens on mainnet must have their KOIN ERC20 on Ethereum at the time of the snapshot. If you're using a wallet, make sure that the wallet is non-custodial and provides you with a recovery phrase. The recovery phrase is how you can move keys from one wallet to another. By making the target the recovery phrase, or a hardware wallet that connects to Metamask, we cast the widest net and hopefully don't lose anyone when mainnet launches.

Prelude to Mainnet!


The snapshot is a necessary step to launching the mainnet, and we wouldn't be announcing this date if we weren't confident in the performance of the testnet. There will be at least one month between the snapshot and the mainnet launch, but we're not ready to announce that date quite yet, so stay tuned!

To stay up to date on Koinos developments, follow @koinosnetwork on twitter, subscribe to the Medium, and join the newsletter at koinos.io.