Spreadcoin > Helium Snapshot and go-live window

hey @everyone (Spreadcoin > Helium Snapshot and go-live window)

some people new may have the wrong idea about the snapshot process. We discussed the snapshot in this slack in April.  We discussed picking a block height in early August (which became 1st August). That would give us details of all the coins. Our plan was to then start the chain soon after the snapshot and do a fast mine for about three or four weeks. At the end of the fast mine, we would have the final set of coins which we would allocate to accounts based on a reconciliation of the database from two explorers. We then advised everyone that we would be looking to open up mining to you all around early September. So the go-live date was due in early September.

So, snapshopt target of early August, go-live early September. This launch window hasn’t changed. The snapshot is only prep for a production go-live window.

Since April, we've had an overwhelming request from pretty much everyone for Bittrex to handle the new coins / swap. So we are now in the process of discussing a listing with Bittrex and we will work to the timelines they provide. They have indicated that they can handle a swap, but they haven’t confirmed they will or that we will get listed – we have to apply like any new coin.

We are going to retain the go-live window of early September and give that target as a window for Bittrex, if they agree to work with us.

If Bittrex agree, we have discussed with the team the option of not doing a fast mine for 3-4 weeks, but just generating a pre-mine within a closed 2-4 day period when we will let Bittrex have sight of the chain going live. We were against a pre-mine as it creates so many potential negative issues, but the feedback has been that with so many ICO’s, what used to be a taboo (pre-mine) is now considered normal. Any alternative views on this, please say so now.

Again, subject to Bittrex’s agreement - they will want to know details about the pre-mine to make sure we are not being underhand in anyway (this is likely to cost us extra fees for them to do some extra checks). During the potential 2-4 day closed launch period, they will be vetting the code and doing various checks. If they agree to list us, they will also use this closed 2-4 day period to do a reconciliation of your accounts and give you your new Helium coins.

Anyone that still wants to do the manual swap with us or with ‘smooth’ (the Monero dev) as escrow, they can still do that. We'll leave the escrow swap process open until around February 2018, and then we'll see about extending it again depending on how many unclaimed coins there are.  You won’t be able to transfer coins from Bittrex to an address after a fixed block height, which we’ll provide when we know the situation with Bittrex, and try to claim Helium coins.

Any Spreadcoins you have on Bittrex or in your own control, you will still have those back, but only for those before a fixed block height, yet to be announced.
Any coins mined after a specific block height on the Spreadcoin chain, will still be yours. You just can’t claim and Helium coins.

If we can't get agreement from Bittrex, we'll likely retain the 1 August snapshot timeline and also aim for first few weeks of September for opening up mining to everyone.

We are right now preparing some extensive documentation to give to Bittrex. The minute we know their confirmed answer, we'll let you know. They have said that listing is not to be taken for granted and it is not guaranteed, but they have also give me positive sounding feedback - so it is my opinion (so not fact, just a view) that we'll get a listing and support on a swap.

August is going to be a tricky period for exchanges as Bitcoin is potentially going to be splitting, not-splitting, upgrading to segwit, not upgrading to segwit. So we'll wait to hear from Bittrex how this impacts their views on our listing and coin swap.

Sorry I can't give you cast iron guarantees and absolute fixed dates, but these things are, because of popular demand, outside of our control - , but, as I have said, the overwhelming feedback is for us to do what we can to get Bittrex onboard and to let them handle the majority of the coins being ‘swapped’ (it’s not a swap as such, we’re giving you new coins for every single Spreadcoin you own, and you’ll get to keep the Spreadcoin too.

So getting Bittrex on board and applying to other top exchanges is now my top priority so that we can give you something more firm timelines as we start ramping up towards a potential go-live in early September.

Also remember, we are not supporting Yobit at all with any coin issue / swapping.

We are starting a marketing campaign as we near a launch date, and so we are, in many ways, committing to a launch window around early September.