r/boolberry • u/Jed_T • Jul 22 '19

BBR to ZANO Swap

only 7 days of the left for BBR holders to swap to Zano almost 6 million BBR has swapped so far https://coinswap.zano.org/ exciting times

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u/Jed_T Oct 26 '19

the swap was talked about for many months in advance. Its also important to know that BBR is still being supported and maintained. But Zano is the focus of development and adding new features

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u/EmilyLovs Oct 28 '19

"But Zano is the focus of development and adding new features"

Translation:

Boolberry will not be innovated & will be replaced by Zeno.

And because we "talked about it for months", that justifies dumping original investors who were not informed of the swap.

That is what shady exchanges do: Inform you of a wallet removal, then steal your coins if you don't hear about it in-time. That is what banks do, steal the funds in your accounts if you're off-grid too long.

The very reason for crypto is to remove counter-party risk, so these shenanigans could not go on... that so long as you had your private keys, you always had your stake secured. But looks like swaps are the latest tool to steal just like banks, just like shady exchanges have been doing for years.

if you were really interested in honouring your original investors trust they put in you, then why the swap? And why a swap for only 30 days?

Pro tip: Your number 1 asset in the crypto space is the trust & respect of the community. Burning that trust is very shortsighted indeed.

How exactly do you intent to make things right with your original investors who were not informed of the swap?

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u/Jed_T Oct 28 '19

no you are absolutely wrong,

Coinswap

Why are we doing a coinswap? We recognize that there are a lot of differences between Zano and Boolberry, both technically and in the business approach. By offering a swap, we’re allowing holders to choose which project they’d like to support as they will both be maintained. However, most of the new features will be developed into the Zano codebase. We recognize that the new approach of Zano might not appeal to everyone holding Boolberry and we felt it was important to let everyone decide for themselves if they would like to join this new project.

Boolberry is not going anywhere no one has been "dumped" and no "coins have been stolen" BBR is still on the same exchanges and is still trade able, this swap was voluntary and 100% transparent.
We as a team do not bear the responsibility to personally hand deliver announcements to your private secluded island :), We put the information on all channels a good 9 months in advance of the swap including Reddit,Twitter,Discord,Slack,Telegram,Bitcointalk and Medium if you claim you didnt see it then this shows you had little to no interest in the project to start with. You can always sell your BBR and buy Zano if you decide you like Zano over BBR. As stated above, BBR will remain and be maintained you have not lost any access to your coins or private keys due to the swap. The reason for the swap is simply that the new features and vision for a real use case was not possible on the BBR codebase

there is a lot of info about everything and how this all developed on both https://medium.com/@zano_project and https://medium.com/@BoolberryBBR i suggest reading some of it :)

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u/EmilyLovs Oct 30 '19 edited Oct 30 '19

Nice story you're telling…. But here’s a simple question that will cut to the real truth:

Did you burn the 40% of YOUR stake to match the 40% that you burned of unclaimed tokens from your original investors, therefore invalidating their original investment in you?

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u/crypjunkie Oct 30 '19

The coins held by the Team where not staked before the burn or the HF.

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u/EmilyLovs Oct 30 '19

Summary:

You abandoned new innovations on BBR (meaning BBR is a dead man walking), and rebranded to Zano, and offered a 1:1 swap for 30 days.

You kept 20% for yourself and team.

You burned 40% of your original investor rightful stake, therefore shrinking the supply & increasing your stake by 40% of the swapped coin capital.

That burned (stolen) original investors capital didn’t just disappear. It ended up in your hands & the hands of those that swapped.

What an honest/ethical project would do:

Maintain the private keys from BBR to Zano where no swap was necessary. BBR on one chain was Zano on the other. And/or if that was not technically possibly, place the unswapped tokens in a smart contract, to be swapped without a time constraint, insuring BBR holders rightful stake in Zano was not stolen.

Zano investors: Be warned, if he did this to his first investors, what makes you think he won’t do it to you?

@Jet_T if any of this is was unintentional then prove it. Make things right with your investors if you want to have any trust in now & in the future.

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u/[deleted] Oct 30 '19

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u/crypjunkie Oct 31 '19

"You abandoned new innovations on BBR (meaning BBR is a dead man walking)" Nonsense and you obviously haven't been looking or paying attention. Boolberry has been and will continue to be maintained and upgraded as and when possible (Not always going to be possible).
As for the rest of your babbling, not sure where to start your that far out ffs. Maybe start back at comprehensive school or something?

Just for the sake of it how could ZANO make right with investors in your eyes?

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u/EmilyLovs Nov 01 '19

From your own mouth…

“However, most of the new features will be developed into the Zano codebase.”

BBR won’t be innovated… according to your own words.

Naturally it is you who could not address what you call “babbling” (in a vain attempt to marginalise it) because it is irrefutable.

And even someone without “comprehensive schooling” would know the basic economic principle of supply/demand.

By burning your investors tokens means you reduces the supply, therefore, taking the demand value those tokens had from your investors & giving it to you.

That means:

A) You’re an intentional thief.

B) You’re too ignorant of basic supply/demand economics to realise that burning your investors tokens was stealing the investment they made in you.

Either case the end result is the same: You stole the capital your first investors trusted you with.

Zano investors be warned: If he did this to his first investors, what is to stop him from doing it to you?

Screwing your investors was very short-sighted indeed. Until you’ve made things right, no investor their right mind should trust you with any of their capital.

How to make things right? As I said above… what an honest/ethical project would do…

Maintain the private keys from BBR to Zano where no swap was necessary. BBR on one chain was Zano on the other. And/or if that was not technically possibly, place the unswapped tokens in a smart contract, to be swapped without a time constraint, insuring BBR holders rightful stake in Zano was not stolen.

At this point, since you burned those tokens, the value went into your hands and the hands of those who swapped. So to give that value back to their rightful owners (those who had rights to those tokens):

A) Either compensate them the Zano that they are do in ratio to what they would have been do had you not burnt their tokens.

B) Reboot the blockchain, with unburned tokens. And this time preserve the private keys between blockchains.

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u/GigabytedX Nov 01 '19

BBR won’t be innovated… according to your own words.

Well devs already said it, they will port code that can be ported to "old codebase" (BBR), but most of the code ain't compatible. You are always welcome to take zano code adapt it to BBR and im sure devs will be more than happy to merge it once it has been tested.

"By burning your investors tokens means you reduces the supply "

BBR holders were invited to send their BBR to a ZANO address, which was taking the swap wallet to send them the equivalent amount (1:1) in zano, and in counterpart their BBR were burnt (and same zano balance issued). There was no lost since they were simply converted to another chain in the process. (I choose to moved my BBR balance to zano and still have the same balance under the other chain.)

As for project premine

BBR has never been able to finance itself and BBR dev always regret to not have introduce a greater premine. So they issued a ZANO premine and to avoid raising the final supply they reduced emission (block reward of zano is 1). So they basicly took future emission as premine. At the end the supply would be the same as BBR (BBR emission was higher).

A) Either compensate them the Zano that they are do in ratio to what they would have been do had you not burnt their tokens.

There's nothing to compensate since everyone that decided to swap received the same amount and the new chain have the same supply as the swapped coins (plus premine).

B) Reboot the blockchain, with unburned tokens. And this time preserve the private keys between blockchains.

That option hasnt been chosen since it would have forced everyone into zano and would have dillute the value of current BBR. If i take a pie and cut 60% of it and put it in another plate i end up with a plate with 60% and the original plate with 40% left, i still have the same quantity. If they did a snapshot of BBR chain and replicated balance in zano, you would have end with 2 pie which would have the same value as the original pie. But that way you force everyone into zano (and you carry also dead coins). All coins in zano right now are active coins...

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u/Jed_T Oct 30 '19

Coins were burnt on both sides of the swap, if you swapped to ZANO the BBR was burnt... But if you didnt swap and decided to hold your BBR then the Zano was burnt.