Posted: April 11, 2020, 11:52 a.m.
Hello PAWS Community,
This article is to remind you all that PAWS is approaching a major milestone in its history. As was mentioned in an earlier article announcing the swap into CRYO, PAWS has been in existence since late 2018. Times were very different then, and especially masternode projects were in high demand. Presale masternodes were sold at high prices and some projects sold many of them. PAWS was launched at the end of this period where masternode projects were popular and it was starting to slow down. A lot of projects experienced problems during or at some point not long after launch, where high amounts of coins were sold while the buying power was not present or at least not strong enough. Never the less, PAWS did secure some BTC during the presale it could start the project off with.
PAWS spent a lot of resources on building a crypto project, which was required to be noticed and considered at the time with investors and traders. It spent a lot of its resources on exchanges, fees for listings on statistics sites, and services that would run our masternodes. Resources were also used on marketing and promotions such as lotteries and competitions. PAWS used a concept of NOT using its premine to restrict the number of coins released on the market, trying to maintain scarcity. In late 2019 PAWS burned its entire premine and more it had bought back from exchanges, a total of 1 million PAWS to reduce the coin supply and help coin price and its investors. Looking back, a lot of effort went into the crypto side of things, but we produced far too little in terms of generating building blocks for the project itself. It is really obvious looking back now of where we went wrong.
Currently, PAWS also has got a lot of what it needs in place, for doing what it was set out to do, namely Animal Charity. There are 2 legal entities and we have top branding and design to work with. PAWS also produced a WooCommerce payment plugin in late 2019 that will allow your existing WooCommerce webshop to accept PAWS or VAULT as payment without having to make any modifications to your webshop. This was the first piece of technology that was released by PAWS. With that, it is a ready-made legal charity providing a solid foundation for a relaunch and with the protection of CRYO by VAULT.Investments, it can deliver the rest of what it is lacking currently.
CRYO by VAULT.Investments
The CRYO program by VAULT.Investments has been running on VAULT for over 10 months and it has proven to be very effective at managing the supply of a project. CRYO was not around at the time when PAWS was launched and the blockchain specifics that were common at the time called for a startup ROI of over 1000% to attract investors into a project. This has not been beneficial for a charity project like PAWS, which should be appealing to anybody that loves animals, and that wants to support our cause.
This is like a new beginning for PAWS all over again, but this time we launch much stronger and better prepared with legal entities, new roadmap, website, and a restructured team that contains dedicated team members. The team that was behind PAWS initially and VAULT.Investments later, has been split up and new resources have been added to make sure PAWS gets the focus it deserves. Jelle has left the VAULT.Investments team and will be focussing on PAWS entirely. In the new team we will find Mike, who has been a die-hard PAWS fan since he was introduced to it, and the man behind the PAWS mug initiative, as well as Harris who designed and implemented the BitBuzz.today platform. Ian, as the driving force behind PAWS will remain in the team as a founder, while Jules will primarily focus on the VAULT.Investments platform with Motz. We hope that these changes will give PAWS the badly needed new boost towards its goals.
The swap for PAWS is intended and designed to give a relaunch of the project a better chance. The PAWS team has never done anything to hurt their project or investors before, and have no intention of doing so now. But the massive number of coins that are freely available today, could instantly destroy any attempt at recovering the project, no matter how well we do our homework and implement the building blocks required. This would hurt not only the project, the charity organizations that could benefit from our initiatives but also the investors that in some cases have bought PAWS at a much higher price than we see today. Instead of cutting the project and investors loose and starting a new project, as you too often see in the real world, we have decided to honor the existing investors and move them all over onto a new blockchain with different specifications. The new blockchain will have a much lower ROI compared to the original blockchain. Our initial plan for the new blockchain was an ROI of 100%, which would be quickly reduced according to the new block reward scheme, but we are currently considering an ROI of 50% to start with. We need inflation and new coins as we are growing the project and our users, as coins are always lost and will be spread over more users and wallets as time passes. However, we don't want PAWS to be a target for ROI hunters looking to seek out projects with high ROI to make money on trading alone.
As mentioned, PAWS will also be launched in CRYO, with all coins frozen on the VAULT.Investments platform. Only rewards will be released and can be withdrawn from the platform or used with the new Coin Swap feature released by VAULT.Investments just before the Easter holidays. As time goes by, the rewards generated that are NOT frozen will surpass the initially locked coins and the blockchain will turn slowly into a regular crypto project/currency. Once CRYO expires usually after 1 year, all coins will be slowly unfrozen to turn the project into a regular crypto project. It is important to mention, that regardless CRYO, the blockchain for PAWS is a regular blockchain based on the PIVX blockchain and if an investor can obtain the coins required for the collateral a cold masternode can be run from your wallet just as you can do with other projects. The only requirement you have to run your masternodes is to accumulate enough coins that can be deposited in your wallet.
The VAULT.Investments platform is the ONLY way and ONLY place where you can have your coins swapped. They will be swapped in a ratio of 10:1. You must transfer your PAWS to the VAULT.Investments platform where they will be swapped on the new blockchain automatically in a 10:1 ratio. For example, if you move 1000 PAWS to the platform, you will have 100 PAWS after the swap. There will be no other way to swap your PAWS, and all PAWS remaining on the old blockchain will be trapped. We are considering options to swap after the cutover date for a limited time, with a reducing ratio as time passes for those of your that are not aware and don't follow developments.
There are currently NO plans to sell PAWS in a new presale. We think you have currently enough opportunities to increase your holdings with cheap PAWS from exchanges. However, since not many PAWS will be available after the swap, it will be possible to buy OTC using the newly released swap feature on the VAULT.Investments platform.
A swap always involves a lot of work for any team as there are usually a lot of individual issues to deal with. Some people will have forgotten to transfer their PAWS to the platform, others will not have seen the announcements. Once that is under control and the new chain is launched under CRYO conditions on the VAULT.Investments platform the team is planning to release a new and updated Roadmap for the project. I know that for some, updating the Roadmap for a project, is like changing the constitution of a country. The foundation that was at the base for an investor to put money into a project. Changing the Roadmap would be like moving the goalposts while you already kicked the ball towards to where the goalposts were before. However, we are not changing the mission and goals of PAWS and we are not fundamentally converting the project into something else. We will be updating it with realistic goals with realistic dates for the coming time to come. The Whitepaper will be updated where necessary and the website will be replaced with a new and updated design with fresh and up-to-date content.
We feel that we have exciting times ahead. Not only do we hope to get some of our former glory back and regain support from earlier supporters and community members, but we also hope to gain many new users, investors, and fans as we roll out the new Roadmap for PAWS. The next article that will be published will likely contain many more details of the plans for the relaunched PAWS project.
Please note once again that all PAWS must be deposited in the VAULT Investments Platform by April 30th, 2020 to be eligible for the swap. The new PAWS will launch soon after the swap end date.
No matter what you decide, to stay with us or get out before the relaunch, there is still time to sell your PAWS or buy more to increase your holding. On the relaunch, nothing will change and all new coins will be hosted for free.
The links and references below contain more information about some of the topics mentioned in the article above:
PAWS.Fund on BitcoinTalk:
CRYO explained on BitcoinTalk: