There are many people confused with this CLO snapshot. Some of us believe it's a hard fork from ETC which is technically wrong. CLO is completely separate blockchain & currency, they are just going to airdrop using ETC distribution list. If you have ETC you will be rewarded with 1:1 ratio with CLO coin. I tried to cover few thing in this post to eliminate confusions spreading around youtube and other social media.
What is new with Callisto?
Callisto is a new protocol currently in testnet to reward miners as well as stakers. According to their announcement. People who really believe in the coin and HODL them, do not get rewarded at all in PoW (Proof of Work or Mining) mechanism. CLO is ?trying to solve that problem and promising to reward their HODLERS.
With this in mind, they are bringing a new consensus mechanism to the table by naming it "Cold-Staking". It is quite understandable by the name itself, it's not based on PoS (Proof of Stake). which means transactions will go through only with PoW mechanism and Cold-Staking should not be taking any part in authorizing transactions at all.
To me, it pretty much sounds like you are holding NEO and generating GAS for free as a reward of HODLING. Similarly, you will be provided with additional CLO just to HOLD, you can think of this as a dividend on your investment.
What exchanges are supporting CLO Airdrop?
It is still unclear, whether exchanges are supporting this airdrop or not, but we are certain about Bittrex, they have officially announced that they will not be supporting ETC to CLO airdrop at all. you can read the full statement released by Bittrex with blow mentioned link.
How to Claim CLO?
According to their announcement, if you are holding your ETC in "ClassicEtherWallet" or "ClassicMask" (Chrome Extension similar to MetaMask). You will automatically receive your airdrop, All you will have to do is switch the network from ETC to Callisto and you should see your CLO coins there.
For users, who mostly use "MyEtherWallet" to store their ETC should also get their CLO upon snapshot. However, I believe to check or claim the tokens you would need to unlock your MyEtherWallet using ClassicEtherWallet. Since it's based on similar blockchain technology, you can use your MyEtherWallet's Private Key or JSON file on ClassicEtherWallet.
When is the Snapshot?
They have decided to take the snapshot for CLO distribution/airdrop at ETC block hight: 5,500,000. It's current block hight at the time of writing this post is 5,493,467. It's less than 24 hrs left in this airdrop now.
In my opinion, we should take this opportunity and grab these CLO coins, Please let know your thoughts on this in the comment section below.
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Oh its a seperate coin😶 and i like yiur logo at the end.its too cute
thank you @barbie.doll
Good Luck
nice nice thanks.
Very well explained.
U clear all my doubts.
glad i helped @shagungupta
Thanks for the info. Its still strange that most exchange haven't announced their support for CLO, i mean its just hours away and till nothing from them.
@profchydon I am wondering the same thing...
to bad kucoin dont support it..
@bricone I don't have any confirmation but i believe they should support it.
that would be great
Welll i am new in crypto so i have heard about CLO the first time and everything became clear to me :)
thank you @munazza
What about wallets like Jaxx ? As far as i know this new coin is not listed in the interface.
Also, do you know if the 1:1 ratio will be rounded or work also for fractions of ETC ?
I've been mining a bit since a couple of weeks, but with a single gpu i don't have an entire coin yet ... 😕
@tof I don't have any information JAXX supporting this airdrop but I am sure it will work for fractions as well with 1:1 ratio or 0.01:0.01 ratio 😀
My dear friends visit my profile I have Airdrops on a daily basis for you in spanish!
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kucoin comfirms aidrop callisto (clo)
https://steemit.com/kucoin/@bricone/kucoin-will-airdrop-clo-to-all-etc-holders
Ethereum Classic (ETC), is currently trading under $29, with only 600 blocks to go before the snapshot for the Callisto (CLO) airdrop is scheduled to take place.
The current price was not the figure anticipated when the news was initially announced, but a Bitcoin drop, an overall market decline and a last-minute statement from Bittrex, not supporting the airdrop, all affected the price negatively.
https://steemit.com/airdrop/@bonusdeposit/airdrop-list-update-march-2018
This is very good information, because many people do not know yet, may I translate into Indonesian.
Interesting development, @bunnychum . I am not knowledgeable about all this. But it seems to be a new segment opening up :)
Nice Project. Please Back