1. Get rid of dead/inactive wallets : only people who actually migrate would be included in the new KCC20 supply
2. clearer view of the real holder base. after migration, we would know how many active KREX holders are really there.
3. Stronger narrative for new buyers : if a meaningful part of the old supply never migrates, the KCC20 supply would be lower, which could make KREX more attractive:
OG Kaspa meme + better KCC20 tech + cleaner holder distribution + reduced supply. 🔥
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I would opt for leaving the process open for as long as possible so if someone has in been in a super nice desert island in the pacific for 6 months and comes back hoping to see their KREX exploding (as it will in the next few months) won’t find an ugly surprise seeing their KRC20 tokens are gone and unable to claim their KREX KCC20 tokens.
But again, it’s just my opinion. Would like to hear what others think.
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D A Haha, no, no, Ivan! :D This is NOT a bridge migration where your KRC20 KREX gets burned or locked and you have to claim the new tokens. The snapshot simply records your KREX balance at a specific date, and based on that, I will distribute the exact same amount of KCC20 KREX 1:1 to your wallet. So even if you disappear to a desert island for 6 months, your KCC20 KREX will already be waiting for you. 😂 Nothing is being burned or locked, and there is no claim deadline or migration window for holders. The only thing you need to do is hold KREX in a wallet you control at the time of the snapshot. Let me craft a short post before I go to sleep. 🤝😁
IvanMaybe you can create an “official” burning address which will also help you to keep track of KREX holders: people would send KRC20 KREX to that address and you send back KCC20 KREX to the sender address in return.
Not sure is feasible with the kasplex disaster still going on...
This was pretty much what I was trying to communicate with my feeble attempt of words
no offense but youre dropping silly ideas. both Artur and me had the krc20 to kcc20 bridge in development (send krc20, receive kcc20 back). there is many good reasons this isnt a thing anymore, with the most important part of how its not trustless and never can be. only a 1:1 airdrop is the real deal.
KREX Migration Clarification
Lol, hold on guys, haha. There is some misunderstanding, so let me clarify how the snapshot-based migration would work 😉
🤩 1. Snapshot
The snapshot will be taken at the specific date, which I will officially announce once everything is ready.
It will generate a JSON file containing every KREX holder wallet and its exact KREX balance at that moment.
🤩 2. You do NOTHING
You do not need to claim anything.
You do not need to fill out anything.
You do not need to migrate anything.
You do not need to press any buttons.
Just keep your KREX in a wallet that you control.
I will handle the rest.
🤩 3. 1:1 Airdrop
The new KCC20 KREX will be distributed 1:1 based on the snapshot.
If you hold 100,000 KRC20 KREX at the snapshot, you will receive 100,000 KCC20 KREX.
If you hold 1,000,000 KRC20 KREX, you get 1,000,000 KCC20 KREX. etc.
Exactly 1:1.
No more. No less.
🤩 4. Same supply and tokenomics
The new KCC20 KREX will have EXACTLY the same max supply and tokenomics as the current KRC20 KREX.
The supply will be redistributed to the eligible holders according to their exact snapshot balances.
21B max supply, 8 decimals, etc. Same as the current KREX.
🤩 5. What will happen to your tokens
Because this will not be a Bridge migration involving burn/lock/mint mechanisms, your old KRC20 KREX will not automatically disappear. It will not be burned or locked somewhere else.
You will therefore have TWO separate tokens in your wallet:
KRC20 KREX: the old token, which will no longer be supported in the ecosystem.
KCC20 KREX: the new token and the continuation of KREX on KCC20.
They will have the same tokenomics, but they will be different.
This is only a technological shift, not a fundamental change to KREX.
🤩 7. What about the old KRC20 token?
The spontanius discussion about "burning" is ONLY about the old KRC20 KREX, and what people could do with it if it will no longer be used in the ecosystem.
The new one becomes the main KREX.
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Tomorrow I will craft a post explaining the pros and cons, why I believe the snapshot migration is the better option at this point, and how it could be much more beneficial for holders and the project
But now, guys, forgive me, I am heading to bed. My eyes can no longer see what I am writing, haha. 😂
GN Krex fam 🤝
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KREX Migration Clarification
Lol, hold on guys, haha. There is some misunderstanding, so let me clarify how the snapshot-based migration would work 😉
🤩 1. Snapshot
The snapshot will be taken at the specific date, which I will officially announce once everything is ready.
It will generate a JSON file containing every KREX holder wallet and its exact KREX balance at that moment.
🤩 2. You do NOTHING
You do not need to claim anything.
You do not need to fill out anything.
You do not need to migrate anything.
You do not need to press any buttons.
Just keep your KREX in a wallet that you control.
I will handle the rest.
🤩 3. 1:1 Airdrop
The new KCC20 KREX will be distributed 1:1 based on the snapshot.
If you hold 100,000 KRC20 KREX at the snapshot, you will receive 100,000 KCC20 KREX.
If you hold 1,000,000 KRC20 KREX, you get 1,000,000 KCC20 KREX. etc.
Exactly 1:1.
No more. No less.
🤩 4. Same supply and tokenomics
The new KCC20 KREX will have EXACTLY the same max supply and tokenomics as the current KRC20 KREX.
The supply will be redistributed to the eligible holders according to their exact snapshot balances.
21B max supply, 8 decimals, etc. Same as the current KREX.
🤩 5. What will happen to your tokens
Because this will not be a Bridge migration involving burn/lock/mint mechanisms, your old KRC20 KREX will not automatically disappear. It will not be burned or locked somewhere else.
You will therefore have TWO separate tokens in your wallet:
KRC20 KREX: the old token, which will no longer be supported in the ecosystem.
KCC20 KREX: the new token and the continuation of KREX on KCC20.
They will have the same tokenomics, but they will be different.
This is only a technological shift, not a fundamental change to KREX.
🤩 7. What about the old KRC20 token?
The spontanius discussion about "burning" is ONLY about the old KRC20 KREX, and what people could do with it if it will no longer be used in the ecosystem.
The new one becomes the main KREX.