Stish to Migrate to New Smarter Contract!
This is great news and will change the game for Stish and Stishit. There is no doubt about how awesome the future is. I think everyone can see the direction we are heading in will make us the easiest platform to begin using cryptocurrency. From auto generated wallets to being able to trade Stish directly into other popular currencies with our internal market.
We are building an epic micro crypto economy!
With many of these changes comes some changes of our own so that we can adapt. When we originally developed Stish it was a simple token that would be used to prove ownership of the rights to use our Upvote services on another platform. We have since changed direction of course and the existing token did not allow us to do the things we really wanted to do in the future.
While beta testing much of the platform many early adopters have witnessed various changes and we appreciate your patience as we found our niche in the market. Stishit is a vibrant growing social network with a core common passion. The passion for cryptocurrency can cause a unity among all of us no matter our race, sex, age, country of origin, religious beliefs,etc. This has been witnessed time and time again in the social portal. Topics sometimes get brought up that we might disagree with or strongly agree with but our unity for a social network with freedom and a micro crypto economy is stronger than all hurt feelings and disagreements.
As Stishit grows and develops and waves of new people join everyday we will all look to leadership from all of the early adopters and founders to help shape our world and give guidance as to how best to develop this new online economy. With rewards for creating content and comments and sharing photos and videos comes responsibilities. The currency should be valued based off of how you value yourselves and your time. If you list your Stish crypto currency for sell at a cheap price it will likely sell but may not impact your friends and neighbors in a positive way. Though all are obligated to protect themselves and be active in the free markets we would ask that you not sell Stish and flood the markets with low priced currency as this will have a negative impact on the whole micro crypto economy.
What Is Stish 2.0?
With our original version having limitations due to its original purpose, Stish2.0 is a next generation token built on the Ethereum Blockchain. Specifically it has enhanced features which allow us to launch an official Token event to raise funds for the last leg of development. The automation of the token event allows you and other to participate easily through various methods.
What Changes Were Made To Stish And How Will It Affect Me?
These are all great questions. The one thing that the old Stish lacked was decimals. This made it unfriendly for traders. When we developed the new Stish2.0 we split the difference and decided to launch with 4 decimals as many new people will be dealing with the currency for the first time. Trading against 16 decimals can be scary for new crypto curency users.
Stish became a more secure token. The old version used the ERC20 standard coding while the new version compiled under ERC223 standards giving it a solid foundation for Dapp development and causing the contract to allow direct sending of Ethereum in return for Stish tokens. The old ERC20 token has many currencies sent to it and they were lost forever as the Old Stish Contract lacked a fallback feature. Making changes to an existing contract is not allowed due to immutability so a new contract has to be created.
What does all of that mean to me, the end user?
Stish the old version will need to be replaced. We will likely start air dropping the new Stish2.0 to each wallet address that holds Stish as soon as Sept 1st or possibly sooner. If your wallet that you added to your Stish Social Portal Account Holds Stish then you will need to take a few steps to see your new tokens.
First You Might Wish To Send Your Old Stish To A Burner Account. Only do this after verifying you have the new Stish in your wallet. You can send your old stish to this wallet 0xae684a264b43cce57a16883c6ef48cf1ae3d5261 and the stish will be locked up. The old Stish will not be good for trading or usable as we will terminate it.
You might need to add a custom token again to your wallet to see the new Stish.
Info You Need Right Now!
See The Contract On Etherscan at: https://etherscan.io/address/0xb472c71365ef9ed14226bb0aa4c9a3fa45ece510
The Contract Address:
The Currency Name: Stish
The Currency Trading Symbol: Stish
The Currency Decimals: 4
The Total Currency Minting: 100,000,000
The Total For Sale During The First Round (possibly only round): 10,000,000
The Rate Of The Token Event Sale Will Be 1000 Stish Per 1 ETH Through The Contract.
The Total Raise SoftCap We Really Need To Hit At Minimum For Success is $100,000 USD equivalent.
The HardCap is 10,000 ETH.
The Total Allocated For Early Adopters Founders And Pre-ICO sales of Stish1.0: 10,000,000
The Total Allocated For Future Marketing, Dev Costs, Legal Fees, Misc Expenses and Retainage: 20,000,000
The Total Allocated For Rewards Pool Distribution: 60,000,000
Notice: If you are buying Stish on the black market be careful to always verify the Stish is originating from the above contract address. 0xb472c71365ef9ed14226bb0aa4c9a3fa45ece510 and it should have 4 decimals. You can verify it on Etherscan
As we move to automate the Stish Credits being converted to Stish Crypto here are a few things you need to know.
- We can complete this once we raise enough funds during the Token Event. It is vital that we raise enough capital to accomplish this as it will allow for easier adoption of the platform and crypto currency in general.
- During the transition from Stish1.0 to Stish2.0 We will freeze rewards and trading of Stish crypto. This is to protect all users involved.
- During the freeze period we will automatically deduct Stish Credits and convert them into Stish Crypto and reset the Credits database. The exchange rate will be 1 to 1.
- Existing holders of Stish the old version will have sent to them the new Stish2.0 version. This is called an airdrop in our case as we will be giving these new tokens to existing holders for free.
- The rewards pool has a definite ending and will cease to distribute rewards for community involvement at the end of that period when credits reach zero.
- We are looking at our trading exchange options for after the completion of the Token Event.
**Stish is not a security or stock or bond or other investment opportunity. Cryptocurrency is a risky endeavor and only those that understand the risks and rewards should attempt to participate in cryptocurrency related businesses. Stish and Stishit are not get rich quick schemes. The community is developing over time and there is no guarantee of a return on investment. There is utility in Stish that allows users to exert effort in the social community in exchange for Rewards points which can then be exchanged for Stish crypto currency that can then be exchanged for other crypto currency depending on liquidity in the market place. Stish nor Stistit has any control over the liquidity of the markets as they are free open markets and value is placed on the currency by not only the community but traders and other market conditions. Nothing you see or read should be construed as investment advice or legal advice, or financial advice. **