Economic Fixes – Enabling Nomination with BetaNet Wallets

xx network Sells 9.7 Million in xx coins

The final component of the economic fixes for the xx network are starting this week.

For background, you can review the general problem and solution here: https://xx.network/archive/economic-adjustments/

Last week, in order to prepare for today’s fix, we distributed November compensation into a new wallet: https://xx.network/archive/economic-fixes-for-the-xx-network-stage-2/

Per the plan, today we will begin the process of moving your nodes to new wallets – allowing you to nominate any node with the bulk of your BetaNet coins while retaining your full Team Multiplier.

The steps for this plan are as follows:

Step 1 – November Compensation

You should have already made a new wallet and gotten your November Compensation in that wallet. This was announced last week (3/7/2022) and compensation will be sent by the team every Monday, first being 3/14/2020. You must get your November compensation in a new wallet. If you have not received your November Compensation, you cannot move on to step 2.

Step 2 – Sign up

You must sign up for a transfer slot. This requires that you are available that day, and the next day for roughly 30 minutes.

For example, if you sign up for the March 17 slot, you must:

March 17: Stop validating and Commit Wallets

Email with instructions will be sent at 7:00 UTC March 17

Can be done anytime from 7:00 UTC March 17 until 18:30 UTC March 17.

March 18: Do cMix ID Transfer and Start Validating

Email with instructions will be sent at 7:00 UTC March 18

Can be done anytime from 7:00 UTC March 18 until 18:30 UTC March 18.

It is your responsibility to be available in the time periods for the selected days

Every day there will be a maximum of 50 slots available with the form closing at 23:00 UTC the day before

Slot 1 – March 17 

  • Close at 23:00 UTC March 16

Slot 2 – March 21 

  • Close at 23:00 UTC March 20

Slot 3 – March 22 

  • Close at 23:00 UTC March 21

Slot 4 – March 23 

  • Close at 23:00 UTC March 22

Slot 5 – March 28 

  • Close at 23:00 UTC March 27

Slot 6 – March 29 

  • Close at 23:00 UTC March 28

Slot 7 – March 30 

  • Close at 23:00 UTC March 29

Step 3 – Move your node

On your registered days, you will receive emails each day with instructions on what to do. In general, we expect the steps for each day to take less than 30 minutes. 

The team is limiting access to the instructions because it involves steps which remove your node from the network temporarily. We are concerned that too many operators will take their nodes offline at once, resulting in the network failing.

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