Bitswift Token Migration
Bitswift is preparing for an Ardor child chain migration. To accomplish this task a NXT asset has been created : 12034575542068240440 , representing current Bitswift supply total.
Bittrex Swap Info:
To make this process easier, Bittrex will be hosting the token swap. The Bitswift market will be halted and withdrawals suspended at 6:00 pm PDT on 8/11/2017 while the new tokens are credited to Bittrex. Trading will resume only when both Bittrex and BDA Inc are satisfied with the migration, with Bitswift users now trading the new tokens. Bitswift users balances will reflect the same total that they had prior to the swap. The old Bitswift tokens will be collected by BDA Inc from Bittrex. The old Bitswift tokens will no longer be supported by Bitswift companies and will no longer be traded on Bittrex.
Ardor Swap Info:
Shortly before Ardor launches, a snapshot of the Bitswift token balances will be used for the ardor child chain balances during the Ardor Genesis Snapshot which will happen at least two weeks after the end of the last round of the Ignis ICO. You will be able to use your existing Nxt passphrase to access your new Ardor child chain Bitswift balance. We will join Jelurida and the Nxt Foundation in coordinating with Bittrex for crediting child chain tokens to the accounts that held the asset.
Ignis Holder Credit:
The Bitswift child chain token distribution will be done as part of the Ardor Genesis Snapshot, after calculating the Ignis balance of each account based on NXT and JLRDA holdings, another calculation will be run that allocates 10% of the Bitswift tokens to IGNIS holders based on those IGNIS balances. The remaining 90% Bitswift tokens will be distributed based on Bitswift token balances at the time of the same snapshot.
All unclaimed tokens will be sent to a public address where they will be reserved by BDA Inc. for those who missed the token swap, as well as to be allocated in a transparent manner to facilitate in the ongoing development of the Bitswift ecosystems. Exact details pertaining to the unclaimed allocation will come at at a later date.
We would like to thank the teams behind Nxt, Ardor and Bittrex for helping with this transition.