We hear a lot of questions about the coming launch of Ardor and especially Ignis, the first child chain on Ardor blockchain. There wasn’t much information available yet, because the development of this unique platform takes time and is never done before. Fortunately, the developers of Nxt and Ardor (Jelurida) posted information about the upcoming ICO for Ignis. To be certain that we post then information correct, the post of Ignis ICO is copied from the website of the developers.
Jelurida is developing its next generation scalable blockchain platform – Ardor, currently running on a testnet. The unique design of this platform allows the simultaneous existence of multiple fully featured blockchain instances (child chains) with their security guaranteed on global level by the parent Ardor chain. The first child chain of Ardor will be the Ignis child chain which will use IGNIS tokens for its operation.
IGNIS and ARDR coins will be allocated to user accounts in the Ardor genesis block. Their distribution will be based on a one-time snapshot conducted over the Nxt blockchain (the “Ardor Genesis Snapshot”), to be performed shortly before the Ardor launch, as follows:
The total amount of IGNIS coins issued will be equal to half of the amount of NXT coins existing on the Nxt blockchain at the time of the Ardor Genesis Snapshot, plus 500 M (five hundred million).
As already promised, approximately half of the IGNIS coins will be reserved and distributed automatically to the NXT holders based on their account balances at the time of the Ardor Genesis Snapshot, at 1 NXT = 0.5 IGNIS ratio.
From the remaining 500 M (five hundred million) IGNIS, 420 M (four hundred and twenty million) will be offered to the general public in a crowdsale (ICO), and 80 M (eighty million) will be kept by Jelurida. The funds raised during the IGNIS token sale will be used for the further development, maintenance, advancement and world-wide promotion of the Nxt and Ardor blockchain platforms, as well as protecting the intellectual property of the code base.
The Jelurida team is now happy to announce that the legal, technical and organizational preparations for the IGNIS ICO are entering their final stage. The ICO will start near the end of July or early August 2017 (exact date and time to be disclosed at least two weeks in advance).
The token sale itself will be conducted on the Nxt blockchain platform. A “controllable currency” called JLRDA will be issued and offered for sale in several consecutive rounds. The price of the JLRDA tokens will be denominated in NXT and will increase at each round. Each round will continue one week and there will be at least one week break between subsequent rounds. The first few rounds will be priced attractively compared to the 2:1 snapshot ratio, but the price will increase significantly for the later rounds.
Being a controllable currency, the JLRDA tokens will not be tradeable or transferable between user accounts. The purchased JLRDA currency units will only serve as a proof of ownership and initial IGNIS balance for the Ardor Genesis Snapshot. A controllable currency was chosen to prevent trades from happening while the token sale is ongoing so that purchases of JLRDA directly contribute to funding the development of the platform.
Purchasing JLRDA tokens will require NXT, however users will be able to exchange other cryptocurrencies to NXT conveniently within the Nxt wallet using the integrated ShapeShift and Changelly third party exchanges, subject to availability.
The Ardor Genesis Snapshot will be performed at least two weeks after the end of the last JLRDA sale round.
For 1 JLRDA token the participants in the ICO will receive 1 IGNIS coin at the time of the Ardor Genesis Snapshot.
The ARDR coin distribution will be 100% based on ARDR asset balances from the Nxt blockchain, in 1:1 ratio, with each user account automatically receiving the same number of ARDR coins on the Ardor platform as the number of ARDR tokens they have at the time of the snapshot. As a reminder, ARDR tokens on the Nxt blockchain were allocated to NXT holders based on their average NXT balances during a three month period in 2016. ARDR tokens have been freely tradeable ever since. No new ARDR coins will be created.
All official information regarding the IGNIS ICO will be published on this website only. If you receive information from other sources always make sure that it is consistent with this page.
We hope we provided you with more information about the Ardor and Ignis launch. If you have more questions go to Nxtforum.org of join Nxt Slack.