Many of you were waiting for information related to an exploit that took place a few days ago. As we mentioned earlier, we believe that we have a solution that will be fair to holders before and after this incident.
Due to the required changes, we decided to take advantage of this moment and include several additions that should have a positive impact on the long-term vision of our project.
As you know, we’ve been waiting for our exchanges to confirm that the changes we are applying are acceptable to all of them. After a few days of waiting for answers from each of them, I am pleased to say that we finally have a green light.
We are currently preparing the upcoming update, which will include the following steps & changes:
Snapshot of a ABET blockchain, exact block will be announced tomorrow or the day after:
- everyone which had ABET before 72593 block will receive additional amount of coins equal to x10 multiplier (example: if you had 10,000 ABET, you will automatically have 100,000 ABET after the update), —
- everyone else which bought or received ABET from staking or MN after 72593 block will remain same as it is.
- As a result the 6,000,000 ABET generated by the exploit will be 3% of the circulating supply compared to the 30% currently.
- max supply increase from 21,000,000 to 210,000,000 ABET,
- minimum stake amount increase from 30 to 300 ABET,
- masternode collateral increase from 10,000 to 100,000 ABET,
- closed phase for development team to generate additional coins to compensate changes to all holders before 72593 block,
- new block reward which will set initial ROI below 100%, reducing to below 50% quickly.
— Altbet Team
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