Say there is a reference height X for opt-in. When someone is making a request to opt-in for an account, only the xem that were on the account at height X will be given on the catapult side.
That is my understanding.
4 Likes
Yes, that would be opt-in before Catapult launch. But after you could move your NIS1 XEM around and opt-in all over again because that will be allowed. So more Catapult XEM.
It wont be allowed. Its very easy to get an accounts balance at a particular block. If acc B did not have a positive balance at block X, any xem that reach that account after block X will not entitle that account to catapult tokens.
3 Likes
Example:
Reference height is X.
At height X account A has 1000 xem, account B has 100 xem and account C has 0 xem.
If you opt-in for Account A at height X and then move the xem from account A to an exchange and from there to Account C and try to opt-in for account C after catapult launch at some height X + 100000, then the commitee doing the opt-in process would look at the balance of account C at height X. Since there was 0 xem on the account at height X, there would be no xem given in the catapult chain.
If you would move the xem from account A to an exchange and from there to account B and opt-in for account B at height X + 100000, then only the 100 xem that were on account B at height X would be given in the catapult chain.
Clear now?
6 Likes
it will not work with exchange account.
they have millions of xems, so i can in and out my 100k xems multiple times
Or you exclude exchanges acc from opt-in, and you need to withdraw coin first?
aha ok,
so you need to save private key of adders holding xem at reference point.
This needs to be explained clearly. I still can see pontifier screaming, but it looks acceptable to me.
1 Like
Unfortunately, it’s still not clear for me. In your example:
- Who can make the reference point?
- How many reference point can be made?
- Will the opt-in committee check ALL addresses at ALL reference points whenever an opt-in is requested?
I think we need a better example of multiple use-case scenario’s.
- Since there is no reference height that is especially good or bad, it can be chosen arbitrarily within some reasonable interval. The migration commitee could do that for example.
- exactly one
- for each opt-in there has to be a check for the given address, yes. I see no way around that.
8 Likes
the actual implementation and timing with exchanges are critical. Let see how things going forward.
Everything sounds very difficult here and as it seems it is really extremely difficult such a swop or hard fork.
I just hope that it will work and not some walle get even bigger, this must not happen.
The best would be to bring the whole blockchain to a standstill and then execute the hard fork so that only 1 coin remains. of course such a procedure is not decentralized and probably also not possible but that would be the best.
A HardFork is always bad and the people are not worried if NEM 1 will be used anymore or if everyone switches to NEM Catapult.
Would now normally say let the community vote on how it should happen, but I dare to doubt that only 5-10% understand what is most correct. It seems to be very complex
Translated with www.DeepL.com/Translator
1 Like
It can still be circumvented since post-fork opt-in is possible. If I have 1000 coins and I opt-in pre-fork I get my 1000 catapult. I then send those 1000 to an exchange and sell them. I buy back 1000 which I then instruct the exchange wallet to send to some unknown new wallet. So no connection to my original wallet. I opt-in with the post-fork option, get my catapult coins. I then repeat the process.
Reread what i wrote. i don’t think it can be tricked.
3 Likes
this scheme means that all those who want to receive catapult coins should withdraw Xem from all exchangers before the block x?
1 Like
name must be NEM2 nothing else
is important name will be NEM2
1 Like
So all opt-ins have to occur before actual launch - so pre-fork? Meaning that when block height X hits all opt-ins will be recorded and no more opt-ins will be accepted after this snapshot? So all old XEM not opted-in pre-fork will never represent a catapult token post fork? So the post-fork opt-in only refers to the date/block when you will actually receive your coins? I was under the impression that opt-in could occur at any time - pre or post-fork because post-fork the committee designated for that would evaluate my request and dish out tokens.
to my understanding if u opt in later to claim xem on new chain u still can only claim the snapsjot balance so all that happens on nis based chain after snapshot is no longer relevant for ur claim rights only the balance ur keys hold at snapshot
the only goal of opt in was to not force people claim coins at a for them in their country bad tax situation.
example tgey can choose clsim after their nis coins older then 12 months which in some countries could make big difference
please clarify that snapshot balance will also be used for delayed later claims
This would only be the case if the exchange doesn’t opt in. If the exchange opts in, they should do it automatically for their users or follow the same method and wait for users to opt in.
What should happen is the same/similar thing as when a regular fork happens.
- Fork block set to X
- Exchange opts in some time before X
- Exchanges freeze trading a few blocks before the fork height and take a snapshot of user balances
- After some blocks past X, the exchange starts trading xem again, and a new market for catapult tokens would start in parallel to nis1 xem at the same time
After 3, either the users will be given the catapult tokens without any input needed from users or the exchanges will require users to claim them.
Even if the exchange does not opt in in time, they can do so later but will only be able to claim based on the balance of the exchanges account at block X.
Because the exchange would mimic what is happening at the network level, a sybil attack as described in previous posts wouldn’t be possible. Actually, even if they didn’t, it still wouldn’t be possible.
1 Like
That’s right. It wasn’t the only goal for the decision but it is one of the goals.
1 Like
No that isn’t right. If you have an account with some xem in it at the fork block, but did not opt in in time, you can still come back and claim the catapult tokens, because your account had a certain balance at the block height.
If instead of opting in, you send those tokens to another account after the block height, that new account won’t have a valid claim on catapult tokens, but the original account still would.
It’s the state of accounts at the fork block that matters, not what happens before or after it. Anyone who had xem at the fork block height, has a valid claim to the amount of xem they had at that point in time. When users make that claim is completely up to them.
1 Like
日本語で申し訳ありませんが
英語が出来ませんのでご容赦ください。
catapult大変期待しています。
ただ日本語の文章で確信が持てなかった部分をお聞きしたいです。
2チェーン方式はわかりました、同時に２つのトークンが存在するという意味で。
確認をしたいのは、今のxemと同数のトークンが配布されるという事ですが、それによってxemが消えるということではありませんよね？
100xemもっていたら、新トークンが100配布され、手持ちが100xemプラス100新トークンになる
という解釈でよかったでしょうか。
そうだとは思ったのですが微妙に文脈では確信が持てませんでした。
よろしくお願いします！
2 Likes