StakeCube moved from PIVX to DASH codebase as is aiming for a safer and more robust chain. The DASH codebase will allow the platform to update quicker and will concentrate on progress instead of fixing errors and issues. Superior privacy, instant transactions, protection against 51% attacks amd X11 hashing algorithm are the other notable upgrades and benefits of the DASH migration. The Proof of Stake (POS) will be replaced by Proof of Work (POW) while the Masternodes are retained, will the collateral remaining at 1000 SCC. The mining algorithm will migrate to X11 and StakeCube Coins can be mined Stakecube .
The new chain will start on the 1st of October with the first 5000 block being launched. The block swap will continue between 1st and 3rd of October. The existing StakeCube Coin will be swapped in a 1:1 ration with the new chain StakeCube Coin. An estimated of 7.5 million SCC will be mined in the first block and the rest will follow. The current supply of 9.1 million SCC will lose 1.8 millions tokens, through burning and locking, therefore the remaining supply to be swapped will be only 7.5 million tokens. To the above transactions, a no swap ratio between 2% and 5% is added and assuming that all StakeCube Coins are swapped, there will exist between 7,388,625.72 and 7,162,443.30 SCC on the new chain. Th
The auto-spwap will work only for coins on platforms supported by block 480,000 while coins generated before the block must be swapped manually. Owners of these SSC tokens need to raise a ticket on the StakeCube Discord channel for verification.
The new block structure aims to reach the total supply of 18 million SSC by 2022. Each phase will last one year, exactly 250,000 blocks, starting at 9 tokens per block and will reduce by one token with each new phase. The final phase will create only 0.5 StakeCube Coin per block until the total is reached. The Masternodes will have to be re-installed using DIP3 while the Cold Nodes will be updated automatically. StakeCube will provide guides and tools to help with the transition.
StakeCube Coin (SCC) details
Total Supply: 18,000,000 SCC with Masternode collateral: 1,000 SCC
Block time: 120 seconds with a 0.5 – 9 SCC block reward
Masternode reward: 70% and the PoW reward fixed at 30% + TX fees
Masternode Minimum Confirmations set at 15 blocks
Delisting day!
StakeCube August Review informed users 8 coins will be delisted on 30th of September, and another review will take place in February 2021. Any other coin or token that will be found unsatisfactory will be delisted. The reasons that can make a coin or project unsatisfactory include but is not limited to no active development or progress, inactive or missing team, recurring chain/wallet issues, outdated chain/wallet code. To provide a growing number of supported coins, new active and promising coins, tokens and projects will be added.
Today APR Coin (APR), Ducat (DC), Deviant (DEV), GoldPoker (GPKR), SpectrumX (SPE), Ignition (IC), Stipend (SPD), xChainz (XCZ) will be removed. therefore is the last chance to swap them before they get burned and lost.
Quick guide for coin swap
Most tokens will have a multiple choice for selling, while others will have only one. StakeCubeCoin (SCC) has a lower exchange cap than Bitcoin (BTC) so this will be my main choice. StakeCubeCoin (SCC) can be used after to invest in other coins and tokens. If you currently holding APR Coin (APR), Ducat (DC), Deviant (DEV), GoldPoker (GPKR), SpectrumX (SPE), Ignition (IC), Stipend (SPD) or xChainz (XCZ), click the arrows and chose your preferred sell pair.
Select 100% on the "Sell" tab to sell the whole amount, and click the sell button. In the top right corner, a green confirmation message will be showed for few seconds, informing the user that the order was been successfully placed.
The "Open Orders" tab will contain the information related to the price, amount and how much of the order is filled. Orders can be cancelled and added again if the price fluctuated too much and the order is stuck.
Once completed, the order will be showed in the "Trade History" tab.
I changed my last batch yesterday to avoid losing them in case the trade gets stuck due to volatility.
* currently testing ReadCash
Links and referrals:
StakeCube swap details
StakeCube review and coin delistings
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