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PAC · 102w

$PAC | Developer Update 13th March 2018

$PAC is alive! – There’s probably no better way to describe the general state of our project now other than living, breathing and functional. It’s no lie that this has been a nerve-racking time for all of us behind the scenes, launching any cryptocurrency is no easy task. Launching a cryptocurrency whilst also having to manage the expectations of thousands of investors who collectively held 3.5 trillion worth of old PACcoins was a different ball game altogether.

TRUST – Trust is something that we feel is the biggest component of this whole process that isn’t being championed enough. What cryptocurrency on the market today has ever done anything like what $PAC has achieved? We asked for our entire community to send their balance of PACcoins to us and TRUST that we, as an operation would return their balance of $PAC to them safely. That in itself is unheard of in the crypto-space. It required a great level of finesse and flawless execution to get right and judging by the numbers so far, the whole team has done an outstanding job. Here are some statistics:

21,437 Successful Redemptions Cryptopia & Yobit, on-site auto redemptions completed successfully More than 200 IT support tickets successfully resolved

We will continue to redeem coins as the transactions come in, we have seen a drop-off in volume of redemption transactions taking place as existing holders continue to stake their old PACcoins in their wallets to complete any last minute PoS rewards before redeeming them before the 1000:1 redemption window closes on May 31st.  We are getting closer to the goal of 80% of initial $PAC mined pool being redeemed and the window will close forever.

Burning the midnight oil

As the dust settles from the redemption, it’s time once again for us to pick ourselves up and push forward the underlying projects that will ultimately add to $PAC’s core value as a currency. We successfully demonstrated and released the iOS mobile wallet and ...

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