From Nova Exchange today:Swapped 1728567.29471593 SANDG for 172,856 POSIV
From getinfo in the wallet: moneysupply: 3,090,610.Why is there such a discrepancy?
Does this mean, in addition to the swap, there was a Premine??
Please clarify, thank you!
Edit: Just went to check Nova and it got dumped to 4 Sats. It was predictable that
some holders of SANDG would want out. But, the concept of POS coins buying back
the supply and, burning the coins is one that I see as a solid strategy.
I for one will hold for the POS portfolio to start to make gains. I do believe it will take
at least 1+ BTC of coins in the portfolio to absorb the new coins created by mining
and POS production .
Woody is correct there is some discrepancies with the numbers, when i built the coin it was originally meant to be a 1:1 swap but after talking to others I made it a 10:1 swap.
When I built the coin there was 3064800 SandG in circulation so i needed to create that amount of POSIV because although unlikely that every SandG would be swapped I needed that amount just incase.
So when the swap started I sent 2mil to Nova as can be seen here:
Coins available for swap
1826383.27052843Active rate for swapping
10:1
Coins swapped so far
Swapped 1736267.29471593 SANDG for
173626.72947159 POSIVRed +
Blue = 2 mil
Now its impossible for that 2 mil to ever be used as 3064800/10 = 306480 which is the maximum amount of POSIV that can come from the swap.
That would leave a total of 2758320 doing nothing, I was going to get nova to burn the remaining POSIV they have in the swap wallet which would then leave 1064800 in the dev wallet.
What I should do with that is up for debate on here and Im open to suggestions.
Some certainly could be used for bounties and other helpful stuff, some good be kept for future ICO possibly should we want to raise funds for further investment...As said im open to suggestions
Crunck
