Added On: 25/12/2017
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ZCoin Znode Payouts
UPDATE: Read Update Here
We have decided to offer our customers free Zcoin rewards via Znodes. By holding a Zcoin balance on BX.in.th you will be able to earn additional Zcoin rewards.
How does it work?
We will lock some portion of the Zcoin cold storage in 1,000 Zcoin chunks, and then run Zcoin masternodes (Znodes) based on these 1,000 XZC holdings.
Note that no coins are put at risk or spent during this process, the coins are still held in cold storage and are completely safe.
By running Znodes we will earn rewards from the Zcoin network, and from these rewards we will payout 50% to customers and keep 50% ourselves for Znode server costs and admin.
You can follow our Znodes by looking at Znodes that pay out to our cold storage address: a4FW4MSw4xFCpqUj6AhCkCL5Mz8qRn7kjv
How will I receive my Zcoin rewards?
Seeing as the coins are kept in our cold storage, so the rewards will also be paid into our cold storage. About once a week we will transfer funds that have been earned from the Znodes into a designated reward address at aLPme619JL46E5BKmbZ1DWLmVfWjn9FHKq and the funds will then automatically be distributed to all customers holding Zcoins in their BX.in.th balance.
We plan to have our nodes fully running by January 1st, 2018, and should start receiving rewards after about 2 weeks.
Notes and Conditions
- The Znode rewards should be considered an added bonus to customers, Bitcoin Co. Ltd. is not entering into any contractual obligation and although we will strive to pay out Zcoin rewards, we do not make any kind of guarantees or give any expectation of future rewards.
- We may decide to stop running Znodes at any time without notice, or adjust the customer/admin profit share percentage at any time.
- We may decide to run more or less Znode depending on hot wallet requirements; we are not under any obligation to run any amount of Znodes.
- Reward payments will be sporadic and unpredictable for a number of reasons:
- Znode rewards will be received to a cold storage address, so will need to be manually moved by human each time
- To avoid creating market conditions where users are attempting to buy into Zcoin immediately before a reward payment.
Also to prevent this, the balance lock-in date/time to receive the reward will be 2 hours prior to the transfer between cold storage and reward receiving address.
- Rewards are designed to benefit users who are holding Zcoin balances; if you are frequently trading in and out of Zcoin it's likely you can miss a reward.
Can I opt-out?
Yes you can withdraw your ZCoins from BX.in.th at any time and hold them in your own wallet, or run your own Znode.
I didn't receive any reward what should I do?
Nothing. Our system will automatically/programmically distribute the rewards, and you either received it or you did not. There is no appeals process or reward adjustment process. You can rest assured that our system does work correctly, so if you did not receive a reward this means that you did not hold a Zcoin balance at the reward lock-in date/time.