The Particl token exchange is in it’s final 5 days!
The purpose of this post is to remind everyone thattime is running out to get PART.
Once the token exchange is complete the offer extended to the SDC community for first right of refusal will be voided and the seed funding round will be closed. There are (3) three groups of token holders watching/participating in this exchange and I wanted to address each group, their unique scenarios and the next steps (if any exist) towards acquiring Particl.
We began the exchange period Saturday, March 18th at 22:00 UTC and it is scheduled to last for 4 weeks. As I mentioned above, we are 3+ weeks into the process of assigning PART to SDC token holders with nearly 64% of the network already converted. This leaves roughly 2 million tokens still remaining to be converted and only 5 days left to swap them for PART. Broken into sections below are 3 groups of participants.
Group 1: Token holders who have chosen to exchange SDC for PART.
This is our largest group and represents nearly 1100 participants at the time of this post. 64% of SDC token holders have swapped to PART and are supporting the team as we deliver Particl, an open source, decentralized privacy platform built for global person to person eCommerce.
Subgroup A: Participants who have been made whole.
You fall into this group if:
- In your dashboard, SDC REQUIRED balance is 0.00000000
- In your dashboard, BTC REQUIRED balance is 0.00000000
- You’ve successfully confirmed your email address
- You can verify you can reset your password with the email on file
Congratulations! You are in the majority (>97%)
Subgroup B: Participants who are half full.
You fall into this group if:
- In your dashboard, SDC REQUIRED balance is 0.00000000
- In your dashboard, BTC REQUIRED balance is 0.00000000
- You can not confirm your email.
A small number of participants have had trouble getting their confirmation email to properly work. Please login, request a new confirmation email, double check your spam folder and click the confirm link.
- If you don’t receive the email please double check your spam folder
- If you still don’t receive the email please let us know; hello@particl.io
Subgroup C: Participants who are half empty.
You fall into this group if:
- In your dashboard, SDC REQUIRED has a positive balance (OR)
- You sent SDC directly to the SDC Conversion Address: SUaqjDUwAuVKnmWUX5tgU3fK1PkmbdfVCD (AND/OR)
- You sent BTC directly to the BTC Donation Address: 3Dms5LZbkdiyyvZhaF2UzomyKDKtuXKBx7
Most of you who fall into this group have already reached out to us which has helped us find a resolution. Thank you. If you fall into Group 1: Subgroup C and haven’t reached out to us, please do; hello@particl.io.
For clarification, if your dashboard has a balance in the SDC REQUIRED field then you donated more BTC then what was automatically displayed in your BTC REQUIRED field. The majority of SDC/BTC sent straight to the transparency addresses has been straight donations but a few of you have reached out to us saying you accidentally sent tokens there versus the addresses you generated in your dashboard. If you accidentally sent it straight to the SDC/BTC transparency addresses (A common confusion for donators used to Proof of Burn fundraisers and/or Ethereum ICOs) then we will work with you to properly link your funds and apply any 15% bonus (only available for over-donated BTC) after the completion of the token exchange. By law our multi-signature transparency wallets can’t be accessed by our custodians until the terms of the exchange are completed.
Group 1 next steps:
The final Terms for the new Particl (PART) tokens is being finalized by our Legal council and in the coming days we will be contacting you to have you login to your dashboard. A new mechanism for generating a personal receiving address offline and linking it to your account for PART distribution will be active, along with an updated Terms and Conditions. For now hold tight, you are ready for the next steps.
Group 2: Token holders who still have SDC tokens on exchanges.
This is the second largest group and the majority of people remaining to exchange SDC for PART. We have begun discussions with all exchanges that have SDC services. Since this isn’t a traditional coinswap all SDC coins on exchanges will need to be transferred off the exchange and into PART or they will be lost forever. Remember, the Particl token exchange offers an exclusive first right of refusal to current SDC token holders to get PART. Once the 4 week exchange period wraps up any SDC tokens left behind on exchanges or in personal wallets will void the PART exchange offer.
Group 2 next steps:
We strongly encourage SDC token holders interested in getting PART tokens to begin moving coins off the exchanges and into the Particl token exchange. If you’re a first time participant please refer to the following guides to clearly show you the process of converting SDC to PART; here and here.
Users need to verify their withdraw limits on exchanges and plan accordingly. The token exchange will not be extended for any reason.
Group 3: Token holders who still have SDC tokens in personal wallets.
All SDC coins in personal wallets will need to be transferred off the exchange and into PART or they will be lost forever. The Particl token exchange offers an exclusive first right of refusal to current SDC token holders to get PART. Once the 4 week exchange period wraps up any SDC tokens left behind on exchanges or in personal wallets will void the PART exchange offer. There will be no more options to exchange SDC for PART after this week.
Group 3 next steps:
We strongly encourage SDC token holders interested in getting PART tokens to begin moving coins off the exchanges and into the Particl token exchange. See guides linked above for first time participants.
This is a 2 part series. The next article will offer a walk-thru of updates happening on the Particl token exchange dashboard and steps each PART token holder will need to take in order to prepare for the Particl platform release clients. Please subscribe to our blog to receive the latest news from Particl.