Qlyphs Moving to the curve
Tokens launched on lots move to the bonding curve under the same ticker. Holders receive the new tokens in the same wallet, with nothing to claim.
You hold a token that was launched on lots. What happens to it when the new curve opens?
Every token launched on the old 1,000-lot curve, except YUVI, moves to the new bonding curve under the same ticker. You do not have to do anything: your share of the new token arrives in the wallet that held the old one.
How the move works
Block 312,600: the curve opens. From this block every new token is a curve token, and no more lots are sold. Old tokens keep moving as before.
Block 312,900: lot tokens freeze. They can no longer be minted, sent or listed. Offers that are already open can still be bought until they expire.
The snapshot. Once a token's last open offer has closed, the old token is retired and the rules record who holds how much of it.
Relaunched on the curve. Qlyphs creates the new token under the same ticker and makes its first buy, paid by Qlyphs: as much QTC as holders paid for their lots, about 35 QTC across all the tokens that move.
Delivered to you. The tokens that first buy gets are shared among the holders in proportion to their balance at the snapshot, and credited to all of them at once. Then the new token opens to everyone.
What you need to do
Update your wallet before block 312,600: the extension from version 0.10.0, or keys.qlyphs.com. Older versions cannot read curve tokens.
That is all. You do not claim, sign or pay anything to receive the new tokens. From about an hour before block 312,900, your wallet stops signing sends and listings of lot tokens, because a transaction signed then could only land after the freeze.
Who shares the new tokens
Everyone who holds the old token at the snapshot, in proportion to their balance. Two kinds of balance are left out, so their share goes to the other holders:
- the tokens the curve's reserve bought back from sellers;
- the wallets Qlyphs uses itself.
A lot bought after block 312,600. No lot is minted from that block on. If your wallet paid for a lot that landed after it, the rules record its price as owed to you. Qlyphs adds that amount to the new token's first buy, and the tokens it buys go to you, on top of your share.
The new token
The new token is a curve token like any other: buy, sell and send it from the moment it opens. It has the same ticker and a new asset ID; your wallet shows the old one as retired. Its curve starts from the first buy, so its price opens where those QTC take it. Qlyphs creates each new token, so it receives the creator's half of its trading fees.
What does not move
- YUVI has already graduated to NEAR; its holders claim on NEAR.
- Quarks and NFTs stay exactly as they are.
- The old token stays visible in its history, frozen. Nobody can mint, send or list it again.
Check it yourself
The list of who receives what is published, with its fingerprint, before anything is handed out. The rules accept the hand-out only if it matches that fingerprint, gives every holder at least their share of the snapshot, and hands out exactly the tokens the first buy got, no more. Anyone can rebuild the list from the chain and compare.