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the_qora_transition
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| the_qora_transition [04/27/2023 17:47] – [QORA:QORT Transition] gfactor | the_qora_transition [05/01/2023 01:53] (current) – gfactor | ||
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| **THE DATE TO BURN QORA HAS PASSED, NO MORE BURNING WILL BE ACCEPTED.** | **THE DATE TO BURN QORA HAS PASSED, NO MORE BURNING WILL BE ACCEPTED.** | ||
| - | Every user of the existing QORA project had the ability to transition into Qortal excluding Poloniex and OpenLedger wallets due to these exchanges inability to honestly return user's " | + | **QORA Burn Rewards go to wallets every block without having to mint. This is the only reward that does not require minting. If you are also a minter, this reward is still issued on top of your minting reward.** |
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| + | Every user of the existing QORA project had the ability to transition into Qortal excluding Poloniex and OpenLedger wallets due to these exchanges inability to honestly return user's " | ||
| Methods for this transition varied depending on which type of user you were in QORA. | Methods for this transition varied depending on which type of user you were in QORA. | ||
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| ===== QORA Burners ===== | ===== QORA Burners ===== | ||
| - | Users who held QORA coin on the original QORA chain were also able to transition to Qortal if their wallets did not come from Poloniex and OpenLedger. Users who held QORA, upon registration for their account on the Qortal platform, were asked to input their private QORA key. When they did this, Qortal automatically implemented the assigning of an asset on the chain, called QORA. Then distributed this asset in 1:1 ratio with the QORA held in the imported private key. Once this had been completed, the user then had a QORA balance on Qortal. | + | Users who held QORA on the original QORA chain were also able to transition to Qortal if their wallets did not come from Poloniex and OpenLedger. Users who held QORA, upon registration for their account on the Qortal platform, were asked to input their private QORA key. When they did this, Qortal automatically implemented the assigning of an asset on the chain, called QORA. Then distributed this asset in 1:1 ratio with the QORA held in the imported private key. Once this had been completed, the user then had a QORA balance on Qortal. |
| - | The QORA asset was NOT SENDABLE nor was it able to be used in any fashion other than to be a ' | + | The QORA asset was NOT SENDABLE nor was it able to be used in any fashion other than to be a ' |
| For example: | For example: | ||
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| User B has 500,000 QORA | User B has 500,000 QORA | ||
| - | Both users imported their keys and now had the representative amount of QORA asset on Qortal. QORA burners originally received 20% block reward for every block, regardless of the minter who found it (just as every minter on the Qortal Network does not compete to sign blocks). If Users A and B are the only ones who have imported their keys, they split the 20% block reward, in a 2:1 ratio, as User A has double the amount of QORA as User B. | + | Both users imported their keys and now had the representative amount of QORA on Qortal. QORA burners originally received 20% block reward for every block, regardless of the minter who found it (just as every minter on the Qortal Network does not compete to sign blocks). If Users A and B are the only ones who have imported their keys, they split the 20% block reward, in a 2:1 ratio, as User A has double the amount of QORA as User B. |
| - | **Please note:** the QORA burn reward was modified from 20% to currently 1%. This is due in part to 1) after two years, QORA burners have made a fair return on their burnt QORA coin that would otherwise be rendered useless as QORA chain is not being developed, and 2) QORA burners were the only block reward that does NOT require actively running a node to earn their burned portion over time (this means they were and currently are not required to support the network by running a node). A community vote was held to decide what modifications to make to the [[Block Rewards & Distribution]]. | + | **Please note:** the QORA burn reward was modified from 20% to currently 1%. This is due in part to 1) after two years, QORA burners have made a fair return on their burnt QORA coin that would otherwise be rendered useless as the QORA chain is not being developed, and 2) QORA burners were the only block reward that does NOT require actively running a node to earn their burned portion over time (this means they were and currently are not required to support the network by running a node). A community vote was held to decide what modifications to make to the [[Block Rewards & Distribution]]. |
| ===== Ratio Of QORA:QORT ===== | ===== Ratio Of QORA:QORT ===== | ||
| - | The ratio of QORT overall that will be given for each QORA, is 1:250 (QORT: | + | The ratio of QORT overall that will be given for each QORA, is 1:250 (QORT: |
| =====QORA: | =====QORA: | ||
the_qora_transition.1682632075.txt.gz · Last modified: 04/27/2023 17:47 by gfactor