Urgent BTZC Staking Update

If you are staking BTZC, you may be aware that an issue was faced in regards to claiming rewards. Although the contract was revised and tested vigorously for months, we’ve come to learn that Shasta Test-Net had not been updated to the most current Tron main-net variables. In other words, the contract performed flawlessly on test-net, yet faced issues with energy costs based on the complexity of the contract, as well as Tron’s new fee-structure, when distributing rewards.

Why did the team opt for such a complex contract?

We gathered many suggestions and desires from the community at large, and the goal was to provide a means for users to be able to continue to add to their stake, without losing their rewards position. We also strived toward having the distributing address cover the costs of distribution, rather than the user. Considering the new fee structures, both of these features will most likely be removed.

What are we doing to solve this?

We will be taking a snapshot of all users that have staked, and those who remain staking. Due to the inconvenience caused, we will perform an airdrop of the due rewards at double the amount to be claimed. The date of the snapshot and airdrop will be announced via the official BeatzCoin Twitter, Facebook, and Telegram. In the meantime, we are revising the contract to again be deployed at a later date (TBA).

Please be advised that when we announce when the snapshot is taken, no further rewards will be honored thereafter. It will be the user’s responsibility to migrate their tokens to the new smart contract.

I’m staking BeatzCoin. What do I need to do?

We encourage those who are staking to continue to do so. We will let you know when the new contract is ready ahead of time, so that you can Unstake in a timely manner.

We apologize for any inconvenience this may have caused. It has been extremely frustrating for all of us, especially being that over 1/3 of the entire supply has been set aside for staking. We will be re-launching soon! In the meantime, VibraVid is working well, and we encourage you to visit, use, and share the platform. New registrations are open!

We thank-you for your patience, support, and understanding.

Sincerely,

  • VibraVid Team

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