IF YOU DON’T HAVE TO TAKE PART IN GENESIS, THEN YOU DO NOT NEED TO PERFORM ANY KYC PROCEDURE!!!
Hello everyone, we are here today to make an announcement that has been in the air for weeks now and which is quite historic and of exceptional importance for our ecosystem, that is, THE LAUNCH OF MAINNET 1.0.
Let’s begin by saying that all accounts that were banned/excluded during the previous security checks will be re-enabled, as new security measures have been adopted along with the creation of the new control dashboard. Due to new AML regulations, all accounts intending to carry out any type of transaction with btsg in the Account Manager, must perform the KYC test, in order to be enabled.
All tokens will be credited to Genesis and although our token remains a cross-chain token (eth ERC20 — btsg mainnet bech32) we will no longer release any tokens in ERC20 now that our chain is ready, so for cross chain transactions we’ll have to wait for the peggy zones built on Cosmos, which will be released after the IBC. $BTSG will therefore remain a cross-chain token, we have no intention to make its erc-20 version disappear from circulation. We will also publish guides on how to open/add your btsg wallets to the Mainnet and much more.
As for users who hold $BTSG in ERC-20 but wish to take part in mainnet, they will be able to do so through our Account Manager, by connecting to their account or by creating a new one for those who do not have one, run KYC test and then carry out the transaction through the smart contract. We strongly advise users not to interact directly with the smart contract and to always use our Account Manager for such operations as an operation carried out in the wrong way could cause the permanent loss of your tokens.
Therefore, the only way to enter the genesis from erc-20 will be via our Account Manager, while for a period of time from the launch of the mainnet it won’t be possible to IN-OUT BitSong, as we are still waiting for some peggy zones to be released on Cosmos, at which time it will be possible to do so in a totally decentralized way.
Therefore the planned program for the 4 weeks coming is as follows:
- Tuesday February 2nd
we enable the new Account Manager (the old one will be disabled in the coming days) and users can already start performing the KYC if any btsg operations are intended to be executed.
- Wednesday February 10th
users who have already passed the KYC and have been enabled, will be able to start allocating tokens in genesis.
- Tuesday February 16th
users will be able to interact with the smart contract that runs from erc-20 to bitsong genesi after the KYC is passed.
- Tuesday February 23rd
Stop smart contract interaction, stop kyc, stop allocations
- Friday February 26th
Genesis will be created, go-bitsong mainnet 1.0 will be released
- Friday March 5th
Users who have not participated in the ICO or still do not hold btsg but want to take part in the ecosystem and enter genesis, can purchase tokens in the following pools:
Users will then have to perform the KYC in our Account Manager and then allocate the tokens in Genesis. This operation must be carried out no later than February 23rd, after that date smart contract reopening must be waited in order to be able to perform new operations.
ACCOUNT MANAGER — https://account.bitsong.io
What will be enabled in Mainnet 1.0?
1. Bank — Transfers
The version of Cosmos SDK that will be used for the Mainnet will be v0.39.x.
Ladies and Gentlemen, the first very important step in BitSong is about to be completed and we are delighted to have you with us in such a special moment.
A special thanks goes to those who have been with us since the beginning in 2018 and who have always believed in us and in the potential of BitSong, but also to those who will be with us from now on, hoping that this path that we will get together is a prolific and full of exceptional events one, as in the end let’s not forget that we are going to improve the Music Industry!