Ardor Genesis Snapshot - Instructions for Exchanges

The Ardor Genesis Snapshot is scheduled to occur on December 28, 2017, at block height 1636363.

 

On the Nxt blockchain, any transactions with the following assets will be disabled at the snapshot block:

  • ARDR: 12422608354438203866
  • Bitswift: 12034575542068240440
  • Janus: 4348103880042995903
  • JanusXT: 14572747084550678873
  • ComJNSXT: 13363533560620557665

 

NOTE THAT SINCE THE ABOVE DEACTIVATION CONSTITUTES A HARD FORK ON THE NXT BLOCKCHAIN, AND IS DONE AUTOMATICALLY, ALL NODES RUNNING NXT VERSION OLDER THAN 1.11.6 WILL BE LEFT ON A FORK! UPGRADE TO 1.11.6 OR LATER IS MANDATORY, ESPECIALLY FOR EXCHANGES, REGARDLESS OF WHETHER THEY SUPPORT THE ARDOR GENESIS SNAPSHOT OR NOT!!!

The user account balances of NXT, the above assets, and the JLRDA currency, as of the block height of the snapshot, will be used to calculate the distribution of IGNIS coin, ARDR coin, BITSWIFT coin, and Janus, JanusXT, ComJNSXT assets on the Ardor platform when it launches on Jan 1st, as follows:

NXT blockchain Ardor blockchain
1 NXT 0.5 IGNIS coin
1 ARDR asset 1 ARDR coin
1 JLRDA currency 1 IGNIS coin
1 Bitswift asset 1 BITSWIFT coin
1 Janus asset 1 Janus asset
1 JanusXT asset 1 JanusXT asset
1 ComJNSXT asset 1 ComJNSXT asset

The asset ids (for the above assets only!!!) on the Ardor blockchain will be the same as on the Nxt blockchain.

In addition, after the distribution of IGNIS coins has been calculated, each IGNIS holder will receive an airdrop of BITSWIFT coins based on 406136.2 coins (10% of the originl Bitswift asset quantity) distributed proportionately to all IGNIS holders.

For users who keep their balances on a shared exchange account, it is the exchange account which will receive, on the Ardor blockchain, the above holdings airdrop.

Note that as the mapping between passwords and accounts has not changed from Nxt to Ardor, on the Ardor blockchain, accounts can be accessed with the same password as the corresponding Nxt blockchain accounts, and the NXT- or ARDOR- account prefix is for display purposes only, this prefix is ignored by the API. Exchanges therefore will be able to access their accounts on the Ardor platform once it launches, and should be able to re-distribute the holdings airdrops they received to their users.

To support the Ardor Genesis Snapshot, we recommend that exchanges take the following steps:

  1. Permanently disable deposits and withdrawals of ARDR, Bitswift, Janus, JanusXT, ComJNSXT, on the Nxt blockchain, shortly before the snapshot block height.

  2. There is no need to disable deposits and withdrawals of NXT itself, or trading of the above assets, unless the exchange finds that such a temporary freeze would simplify determining the user account balances on their books at the time of the snapshot.

  3. After the snapshot height has passed, record a snapshot (as on the books of the exchange) of user balances of NXT and the above assets, as of the time of the snapshot block.

  4. If a freeze of asset trades or NXT deposits/withdrawals was done, re-enable those.

  5. Deposits and withdrawals of the snapshot assets (ARDR, Bitswift, Janus, JanusXT, ComJNSXT) should not be enabled on the Nxt blockchain, as they will no longer be supported on it. Only after the Ardor platform launches on Jan 1st, and the exchange adds supports for it, those holdings could be deposited from or withdrawn to the Ardor blockchain, to which they are being migrated as part of the snapshot.

  6. After the launch of the Ardor platform on Jan 1st, and the exchange adding support for it, user accounts should be credited, by distributing the holdings (IGNIS, ARDR, BITSWIFT, and the Janus assets) received by the shared exchange account to each user based on their corresponding balances at time of the snapshot.

  7. Handling of user assets sent to the ARDR issuer account:
    UPDATE: Due to the uncertainty whether exchanges will be prepared to handle correctly such automatically refunded token transfers, we will keep any tokens erroneously sent to the ARDR issuer account, and return them (including the corresponding airdrop) manually to users, after the Ardor blockchain is launched and running stable in production.
    • Some users have mistakenly sent ARDR assets, or NXT coins, on the Nxt blockchain, to the ARDR asset issuer account NXT-FQ28-G9SQ-BG8M-6V6QH. Since this account has outgoing transactions disabled, it is not possible for us to return these assets or NXT coins back before the snapshot, however the snapshot code will allocate the ARDR assets back to the senders, so that each user that sent ARDR to NXT-FQ28-G9SQ-BG8M-6V6QH will be allocate that number of ARDR coins on the Ardor blockchain. There are a few users who sent ARDR to NXT-FQ28-G9SQ-BG8M-6V6QH directly from shared exchange accounts. For those, it would be the exchange account to which the ARDR coins are allocated, and it would be up to the exchange to distribute these ARDR back to their users on the Ardor blockchain.

    • For the NXT coins mistakenly sent to the ARDR asset issuer account NXT-FQ28-G9SQ-BG8M-6V6QH, the 0.5 IGNIS airdrop will again be allocated to the transaction sender instead of to NXT-FQ28-G9SQ-BG8M-6V6QH. In case the sender is a shared exchange account, it is up to the exchange to distribute these IGNIS back to their users on the Ardor blockchain, and also the corresponding part of the BITSWIFT airdrop to their account that is performed based on IGNIS balances.

    • The NXT coins themselves that were mistakenly sent to NXT-FQ28-G9SQ-BG8M-6V6QH will be returned to their senders manually, by Jelurida, after the snapshot, when the outgoing transaction lock on the above account is lifted. If the sender is a shared exchange account, again it is up to the exchange to distribute those NXT back to their users on the Nxt blockchain.