We are pleased to present a new program aimed at solving critical organizational and technical issues that impede the growth of the CPT token and the entire Cryptaur ecosystem.
When developing the novel LIXI token, we set ourselves the goal of protecting the legitimate interests of the CPT token holders in order to help them replenish their funds invested in the token that had been seriously affected by a series of hacker attacks as well as the “crypto winter” unfavorable market conditions.
This decision is defined by the following factors.
The CPT token was created in 2017 on the Ethereum blockchain, the only decentralized system suitable for use in our project at the time.
Unfortunately, in the long term, this caused a number of critical issues significantly hampering the further development of the Cryptaur project:
- The speed of the Ethereum network is currently insufficient to build a payment system suitable for everyday needs, while the disproportionately high cost of Ethereum transactions deprives it of any advantage over traditional financial tools.
- In the course of a series of hacker attacks, a significant volume of CPT tokens ended up in the hands of cybercriminals. This makes any efforts to grow the token and increase the demand for it extremely costly, and actually only leads to further enrichment of the attackers.
What is the Golden Phoenix program?
Golden Phoenix is a CPT-to-LIXI exchange program with LIXI being a next-generation token powered by Cryptaur’s own blockchain, which provides much faster performance and much higher reliability.
The exchange procedure assumes the CPT token holders identification using built-in Cryptaur ePassport-based KYC system and Swype-ID technology. The AML will also make it possible to track and withdraw from circulation CPT tokens stolen by cybercriminals.
How the new token will be introduced
- The LIXI token will become the platform’s main settlement tool as well as the bonuses unit rewarding the activity of participants.
- The number of LIXI tokens issued will be equal to the number of CPT tokens issued.
- LIXI tokens can be obtained by any CPT token holder for the same amount of CPT tokens at the fixed 1:1 rate.
- To ensure the smooth relaunch of the ecosystem basing on the new token and regulate its value at the first stage, 95% of LIXI tokens received by the user in the exchange procedure will be frozen in the user’s account, while the remaining 5% will be immediately available for trading in against ether and circulation on the CPT Point platform .
- The automatic unlocking of LIXI tokens will start in 12 months after the release. Thus, 1% of the frozen balance will be unblocked in the 13th month , then 2% in the 14th month, 3%m in the 15thmonth, …, and finally, the remaining 9% will be unblocked in the last, 26th month.
- Also, purchasing LIXI tokens for BTC at a fixed rate will be possible. Each such purchase will trigger the unfreezing of the user’s referrer’s tokens with the amount unfrozen equal to 10% of the purchase amount. For example, if the user buys BTC for 10 LIXI, his referrer gets 1 LIXI unblocked.
And one more positive news: a team of professional market makers will work on promoting the LIXI token.
Expect other big updates to follow in our next releases!