$PAC Redemption (Micro Update)

We have been having a lot of behind the scenes chats with some of the more influential members of the $PAC community. A “draft” operational budget has been shared for discussions, and it is still in the process of being finalized. We are no longer considering using these coins as operational master nodes. These $PAC operational funds will be controlled by a soon to be hired $PAC treasurer. The treasurer will manage all the outflows visibly online. We are happy to report that all the current masternode holders will not be diluted by this pool of $PAC. When released in the next few weeks our “In Circulation” number will change to reflect the same number as “Total Supply”.

When discussing the use of the remaining leftover redemption coins ops budget, it was quickly determined that we cannot burn these coins. If we were to burn them it would directly lower our market capitalization, as they are not in circulation on Coin Market Cap.  Releasing this leftover $PAC will have a positive impact. These coins also serve as a more efficient system of expense management for recurring expenses and gets them capped in real dollars, and not inflated due to current trends in market conditions.

The coins will be allocated to core DEV and marketing operations, management incentive and an exchange fee payment fund. This fund when exhausted will be replaced by the use of the DAO for these operational areas as well as the management incentives. These exact numbers are still being finalized and will be released for final community discussion shortly.

Happy Father’s Day to all the $PAC Dads out there!

This Post Has 8 Comments

  1. Very nice job $Pac team I really appreciate the transparency of the whole process.

    1. am sill having issues moving my old pac. I have the new wallet and the old wallet but not a redemption wallet…any help would be appreciated please.

  2. Just curious how will this have a positive impact on share price if outstanding PAC are going to be equal to pac total supply?

    Won’t this dilute pac holders?

    Or are you saying it’s a good thing “long term” ?

    Seems like the price would fall, no?

    1. The marketcap is from Circulating supply x the price. But the difference between circulating supply and total supply was the amount of masternodes when last update of Coinmarketcap.
      So with the correct number showing circulating supply means our marketcap is been shown good. Wich makes our CMC rank better

      1. still having issues moving the old to the new, any help would be appreciated

        1. Hello,

          If you want to redeem pac to $PAC please email [email protected] and open a ticket to request redemption.

          Since now it is on a Case by Case basis.
          In that email include:
          – The amount of Pac you want to redeem
          – Reason of late redemption

  3. I always read what they say about coins on the website of a coinmarketcap. It is necessary to update more often announcements about a coin listing on new exchanges!

Leave a Reply