Ten days to launch $PAC!
It is amazing the number of things that need to be coordinated and in place to successfully launch $PAC and execute its coin Redemption, especially when most of its resources are volunteers – Passion is the only word that describes for what they do and for the future of $PAC. So, let me jump right into what everybody wants – an update:
⦁ We are currently on track to launch $PAC on Feb 1st and start the redemption the following day. Remember that we need to mine the necessary amount for the redemption and then start a few nodes to support the network.
⦁ We have a testing networks right now that we are sharing with a group of people that are helping us test and providing feedback. We have been testing for more than a week now and making a few changes as we collect feedback.
Things that are operational and currently under test (in a Testing Network):
- Full Operational Testing network
- Wallets: Mac, Windows, and Ubuntu/Linux- They are working fine so far in the current environment:
- Block Explorer:
- Masternodes are working fine as well. We have several masternodes running and collecting rewards (fake rewards)
- Mining Pools are fully operational and ready to be deployed on Feb 1st
- Most of the functionality has been tested and working fine. There are a few features that we still need to test such as Governance voting, etc… We should be able to complete by Feb1st
- Redemption scripts are still in progress, but on track to be ready for Feb 1st, the idea is to create a few scripts to help with the redemption process and reduce human errors as much as possible – More details on this during this weekend. We’ll provide a more detail update.
A quick summary on the plan/flow for the launch and redemption:
- Prior to Feb 1st, we have several videos and instructions on what to do for the redemption. We want to make sure everybody knows what to do and where to go.
- Feb 1st, we’ll launch $PAC and mine 3.55 Billion coins to be used for the redemption
- Feb 2nd, we’ll start the redemption in a slow pace for the first few days. We want to make sure that redemption process is working properly and redeeming accurately. From Feb 1st to Feb 28th, we’ll redeem only transactions that are 500,000,000 or larger. The idea is that you use them to create Master-nodes to build and strengthen the network.
- March 1st through April 30th, we’ll redeem everybody else.
- We’ll put in place a ticketing system so that you can report issues or questions related only to the redemption process – we want to make sure that every has a way to reach us in case there are issues with your redemption coins.
Thanks for your patience, we are trying our best to make this a smooth and simple process that is fair and simple for everybody.