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qora_to_qortal_transition [08/04/2021 02:05] – fixed some broken links quickmythril | qora_to_qortal_transition [12/08/2022 04:25] – gfactor | ||
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====== QORA to Qortal Transition ====== | ====== QORA to Qortal Transition ====== | ||
+ | {{: | ||
How do I burn QORA? How does this work? | How do I burn QORA? How does this work? | ||
- | http:// | + | http:// |
QORA Holders on Poloneix and OpenLedger? | QORA Holders on Poloneix and OpenLedger? | ||
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I burned QORA, do I have to mint in order to receive QORT? | I burned QORA, do I have to mint in order to receive QORT? | ||
- | No. QORA holders don't have to Mint to get their QORA/QORT conversion but can issue a reward share key to themselves to start Minting. 20% of each block reward | + | No. QORA holders don't have to Mint to get their QORA/QORT conversion but can issue a reward share key to themselves to start Minting. |
- | + | ||
- | Is there a pre-mine? What will be the supply of QORT? | + | |
- | There is no pre-mine. There is no ' | + | |
What's the difference between QORA forgers and holders? | What's the difference between QORA forgers and holders? | ||
FORGERS are given minting accounts without a need of sponsorship. When you enter your seed to burn QORA, the system will tell you if you're a FORGER as well as your account level! FORGERS and QORA holders who burn are two different things: | FORGERS are given minting accounts without a need of sponsorship. When you enter your seed to burn QORA, the system will tell you if you're a FORGER as well as your account level! FORGERS and QORA holders who burn are two different things: | ||
- | QORA holders who burn, get into the transition: 250:1 (QORA: | + | QORA holders who burn, get into the transition: 250:1 (QORA: |
Why can't OpenLedger and Poloniex wallets be used to burn QORA? | Why can't OpenLedger and Poloniex wallets be used to burn QORA? | ||
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For example, I burned QORA and my account level is 7. What are my rewards? | For example, I burned QORA and my account level is 7. What are my rewards? | ||
- | If you burned QORA, you will receive a portion of the 20% block reward for QORA holders. If you are also a Level 7 and minting, you will also receive a portion of the 20% block reward for Levels 7 & 8 bracket. The ' | + | If you burned QORA, you will receive a portion of the 20% block reward for QORA holders. If you are also a Level 7 and minting, you will also receive a portion of the 1% block reward for Levels 7 & 8 bracket. The ' |
When will my QORA:QORT be granted or how does this work? | When will my QORA:QORT be granted or how does this work? | ||
- | Let's assume you are a level 2. Your level 2 reward is separate from your QORA:QORT transition reward. The transition reward is 20% (split among everyone who burned but also paid at a ratio based on the amount you burned. For example, if you burned twice as much QORA than someone, you will receive twice the payout the other person would receive. This continues until you reach your total 250:1 conversion). This means you can expect a level 2 reward (split among all level 1&2 accounts evenly) PLUS 20% transition reward (split among accounts accordingly as I just stated in previous sentence). | + | Let's assume you are a level 2. Your level 2 reward is separate from your QORA:QORT transition reward. The transition reward is 1% (split among everyone who burned but also paid at a ratio based on the amount you burned. For example, if you burned twice as much QORA than someone, you will receive twice the payout the other person would receive. This continues until you reach your total 250:1 conversion). This means you can expect a level 2 reward (split among all level 1&2 accounts evenly) PLUS 1% transition reward (split among accounts accordingly as I just stated in previous sentence). |