Hey everyone, I was just researching some crypto news and came across an article that I thought I would share with all of you...all of this info comes from the link below. Click below to learn more.
If you are currently holding ETC, then you are in for a treat. All ETC holders will be credited with Callisto (CLO) on a 1-for-1 basis. This means that if you are holding 100 ETC, then after the Airdrop, you will receive 100 CLO. Pretty sweet deal right?!
Airdrops are different than hardforks. Callisto will be going to a brand new blockchain (in which CLO is the native currency) rather than forking off of ETC's blockchain. Callisto's blockchain will offer possible scaling solutions, test experimental protocols, and set up a governance system which incentivizes both miners and coin holders. Callisto introduces a Cold Staking Protocol that rewards coin holders for being network participants. Coin holders can stake their coins and earn interest, without having to validate transactions, since consensus will continue to be achieved via Proof-Of-Work (POW).
The Airdrop will make a Snapshot of the ETC Blockchain at Block 5500000 (Approximately March 5, 2018). This date depends on ETC Block Time and ETC Hashrate Changes). At the time of the Snapshot, all ETC holders will receive CLO coins automatically in a 1:1 ratio to the amount of ETC that was held at block 55000000.
There is still plenty of time to purchase ETC in my opinion. Now is the time to get in. As we get closer to the date of the Airdrop, the price of ETC is most likely going to rise. I also expect a pretty significant price drop in ETC right after the Airdrop. So you have a few options...Hold ETC to earn the CLO and ride it out, Sell you ETC prior to the Airdrop if the price rises and you're "in the profit," or hold ETC to earn CLO and then immediately sell ETC during the drop. I myself will start accumulating more ETC now and continue to watch the market to decide my next move. Please share your thoughts and feel free to upvote and resteem. Thanks for stopping by and good luck investing...
For those that are unaware - cold staking is a way to incentivize CLO coin holders by allowing them to stake their coins and earn interest, without having to validate transactions, since consensus will still be achieved via Proof-of-Work (POW). This is an impressive accomplishment. The crypto chicken and egg problem is incentivizing the coin holders to continue holding the coins.
The techchat team is excited to follow this project! It appears as if most of the incentive is for the miners, but CLO has the attention of the space now.
I'm excited as well. Thanks for the support!
Excellent research and very well explained.
It so happens that I purchased a 2-year "cloud mining contract" on ETC sometime last year and it has done very well. Then unfortunately I just sold most of it to fund my new Binance account in December. It's the Crypto dilemma -- you either sell something or plow more fiat into it.
Thanks. Yes the ebbs and flows of crypto. Yesterday's sales becomes tomorrow's purchases. I have done that plenty of times. Sounds like you purchased the right mining contract...hold onto your future ETC!
First of all big thanks to you ...because i got my Lend token today which you shared about the air drop earlier :D Yayyyy thanks again for sharing this
Awesome! I received mine as well. Easy money. Lets hope this one works out as well...
intersting !
Yep. Get on board. You’ll be glad you did.
That does indeed looks great for the holders of ETC ;)
Enjoy the airdrop!
I think long term holders of ETC will be very happy in the next month or so. Still plenty of time for new investors to get in.
Hey appreciate you sharing about this. Yeah we still have plenty time to buy some more in
Always good to get in early. It should have a nice run up closer to the airdrop. I did very well with NXT by buying early before the IGNIS drop. It had a huge run up until about 2-3 days before the airdrop...great time to sell for profit and hold some for the airdrop.
thanks info...
No problem.
Thanks for sharing! You can have a look on $ELF too.
https://steemit.com/bitcoin/@crypto.guide.btc/easy-free-coins-with-aelf-usdelf-candy-program
Cool. Thanks for the share.
great! So many new coins the last year find their way to the market!
Yea...tough to keep up. This one could have potential though...
Thanks for this info @pbgreenpoint. 🥂
What is going to be the approximate price of CLO?
It would be great if ETC rises on the D-Day and I will extract my profits. Cheers.
Way too early to tell about price speculation for CLO. I'm sure as we get closer to the Airdrop, there will be a "futures" market trading CLO, but those are never really accurate. In a few weeks, if I hear anything about prices, I'll do an update post. Thanks for commenting.
Awesome. Thanks a lot. I will keep an eye on you. 😎
This post has received a 0.91 % upvote from @booster thanks to: @pbgreenpoint.
Looks like now that we are experiencing the dip, it's a great time to stock up on ETC. Thanks for writing up about this.
Is March 3rd still the date for the CLO forking?
Can you guide us how to get the CLO coin? I mean e.g I have ETC on my private wallet, then how can I get the CLO? is it automatically dropped into my wallet? Thanks in advance...
Yes, that is how it works. Just don't have it on an exchange, as some of them don't pass it on
If your ETC is on Binance, how do you claim or take control of your CLO?
Thanks for the article! Can you advise how to claim the airdrop? I have my ETC on Bitfinex but I'm assuming I'll need a dedicated ETC wallet? Will the ClassicEtherWallet suffice?
Etc didn t rise at all. What to expect?