We have determined that, in the longer term, the Ethereum blockchain does not suit, and cannot meet, our needs, and the needs and best interests of our token holders and users in terms of ease of use, transaction speed, transaction volume, and transaction costs.
Accordingly we are developing a new DeFi blockchain protocol with the working title “Siberia”. This new blockchain will sit above PDX and be governed as a fully decentralized and independent blockchain by an outside body, such as a foundation. Our goal is to complete development and testing of the Siberia blockchain by late-2023, and release it at that time. PDX Coin at that time will migrate off the Ethereum blockchain, and onto the new Siberia blockchain. This will provide PDX with vastly improved transfer and transaction speeds at next to no cost, and without the need for a clunky “middleman” mechanism, as with ETH, to effect a transaction.
The Siberia blockchain protocol is being built primarily with a banking and payments purpose in mind, but will also accommodate other applications. It will be based on smart contracts and be open-source, and third party developers and projects will be encouraged to develop and launch on it. The blockchain will be a multi-chain, multilayered and sharded protocol, enabling many applications and transactions to be run simultaneously, with interoperability between different blockchains. It will use a Proof-of-Stake consensus mechanism, and all holders of the Siberia Protocol’s native coin will have a say in its operation.
Siberia will help PDX achieve many goals, including enabling its integration more easily into. the metaverse, for provision of an array of payments, DeFi, and banking services, and development of entertainment, gaming, and gambling content.
The native coin for the Siberia Protocol will be listed and tradable, and upon completion and release, the majority of Siberia Protocol coins will be distributed to the holders of PDX Coin as at the date of transfer, on the likely basis of ten Siberia Protocol coins for each PDX token held on that date. As to potential valuation and market pricing, we cannot comment, other than to suggest looking at Cardano, Polkadot and Ethereum as guides in respect to a valuation model.
Visit for more information:
https://pdxcoin.io/
https://twitter.com/PDX_Coin
https://www.reddit.com/r/PDXCoin/
https://t.me/PDXToken
https://www.facebook.com/pdxcoin/
