Refund announces its integration to a new blockchain

Refund Token announces that one part of our total supply will be moved to the second blockchain.

We have reached this decision together with our advisor yesterday; which also responds requests of our Refundian community which has been constantly asking for new blockchain option, so as a part of a market research, we are listening to our community.

As a result, all holders will have two options. It’s like to go the Sunday’s buffet if someone asks you what you want: scrambled eggs or pancake?

Every holder can decide between two options:

• Stay with (SLP) Refund Token (RFND) where users can obtain staking rewards payable in BCH, ETH, BNB or Spice

Or

• Convert SLP RFND into a new Token which will run on E-cash blockchain. Our holders will have option to receive staking rewards in E-cash (XEC) and Avalanche (AVAX). AVAX will be only available for larger holders. We decided also for this option just by the fact of healthy fundamentals of both projects and 

We want to let you know that E-cash is a new community, it’s a rebranded former BCHA token which has a total supply of 21,000,000,000,000 XEC. So basically, they multiplied the original Bitcoin’s supply by six zeros and converted it into 21 Trillion. All the information can be found on their website: https://e.cash/ , Twitter and Telegram Groups.

The exchange rate between those two tokens, rules for conversion, timing will be announced in detail during September and we will start  with the conversion process as of October 1st.

Both tokens will coexist in parallel way for a minimum period of 450 days (December  31st, 2022). So if someone for example decides that he/she wants to move into a new blockchain, he/she can do it freely, and also they can go back. We won’t put any pressure on anyone’s decision; everybody will finally decide what they want according to his/her preference.

We decided for this decision because we want to provide additional option for new users.

What does it imply for the team of RFND token?

1) First of all, we will send at least 27,000,000,000 RFND to new blockchain. That will shrink our supply of RFND by 30%, from 89.9 to 62.9 billion of RFND. By the end of conversion period we expect that the final supply will go below 60 billion RFND. The purpose of it is to guarantee that we won’t be issuing more tokens but keeping the same ones.

If we have remaining token balance in a new blockchain, we will remove them by the end fo 2022.

2) Every person who prefers the conversion, will have to send us his/her RFND tokens and we would send them new tokens. Their RFND tokens will be burnt after that transaction. This will speed a stronger deflationary process for RFND token. In the same way if someone decides to move from E-cash environment back to SLP RFND, we will have to do the same operation.

3) We are still at process of setting up initial supply of new token, exchange rate for the initial conversion which will be valid for the period of first 3 months. Then it will move according established rules.

All of these details will be communicated during the first two weeks of September because we are still carefully analyzing them.

4) The staking reward mechanism will be different for users of the new chain, basically the difference is that users will have option to receive XEC and AVAX. We also analyze option of inclusion of Polygon (MATIC) staking rewards.

5) Our team is also analyzing option of additional burning of RFND tokens before the conversion process starts. However, we are still in the process of its corresponding analysis, we don’t guarantee this outcome; as we said – we keep on analyzing this.

6) Depending on result of having our tokens in 2 blockchain, we are also opened for further inclusion to new blockchains. But the new inclusion period will start as of 2022 if we decide to go for it.

We want to also let you know that we are bound to our main values of financial sustainability and neutrality.

When we talk about neutrality, we refer to the fact that we don’t say that one cryptocurrency or blockchain is better than the other one; we just have to stick to our basic principle which is to maximize our stakeholders’ profits and defend their interests.

We have learnt very well during our journey through crypto space that the token you believe in the least, can bring a lot of surprises; such as Dogecoin; nobody would have expected one year ago, that Dogecoin would have become one of the major players in our crypto space.

We appreciate all your kind support and preference through all these last months.