OPEN Platform recently launched their token swap last week with their first snapshot. Interested parties had to register their wallet by Thursday, June 28 to be eligible. Up until now, OPEN had received overwhelming support from the community and they wanted to give back to their loyal supporters.
Token swap bonus
The OPEN token swap was designed to reward additional tokens to OPEN holders and community members for their long term support. So instead of the usual 1:1 swap that people were accustomed to, OPEN was doing a 2 for 1 bonus on the OPEN tokens held in their wallet. In simple terms, what this means for long term HODLers is that they can double their portfolio of OPEN by just letting it sit there. This doesn’t even take into account any potential price rises in the coin as OPEN continues to roll out new features and updates.
The maximum bonus is 2:1 from the first snapshot. However, registered users who missed out, or who have bought more tokens leading up to the token swap event, will have two additional chances to get in on the bonus. The second snapshot will have a bonus ratio of 1.75:1 and the third snapshot will still give a 1.5:1 bonus.
Furthermore, early investors with vested tokens yet to be released, need not worry. OPEN will ensure all of the early investors have a 2:1 swap bonus for their entire amount of tokens, both vested and unvested.
To combat volatility and keep prices from speculation, OPEN will also be holding random snapshots in between the large snapshot events. This does not affect long term holders at all and is designed more to deter quick flippers. The frequency and timings of these snapshots will not be released in order to keep the random aspect of it and hold the integrity of the program.
First snapshot: June 29th
Second snapshot: TBA
Third snapshot: TBA
OPEN token swap event: later half of August (exact date to be confirmed)