It’s due time for us to check back in with Caishen. After a successful launch, and launching their first game which is incredibly addictive, it became pretty quiet again. Until they announced you can exchange Caishen to CAIx now, and earn stake…
Caishen itself is a 100% pure Proof-of-Work cryptocurrency. There were quite a few mining pools to point your mining hardware to, and it can still be mined as of this writing, until the 18th of May 2014.
By then , all your mined Caishen has to be converted to CAIx, which is the Proof-of-Stake version of Caishen. There are roughly 1.6 million CAIx in circulation, and holders will earn a 5% annual stake.
For about another week or so, you can still mine Caishen, or buy it on one of the several exchanges. After that, there will be no way to obtain Caishen anymore, not even through a multipool, as that was never the intention.
The Caishen pre-mine, or what’s left of it anyway will be destroyed by not moving it over to the CAIx blockchain. The 8 Caishen/CAIx developers will receive 4,000 CAIx each, which will be put on different nodes in PoS mode, to make sure the blockchain is operational.
In order to swap your Caishen over to CAIx, you can visit the Coin-Swap exchange. The exchange between the two cryptocurrencies will be completely free of charge. Any exchange fees that would normally occur, are paid for by the Caishen team.
It will be interesting to see what will happen with CAIx down the line, but it sure looks like an intriguing project to me. I already exchanged my coins yesterday, and am now awaiting my first stake to occur.
Caishen Donations are welcome to : CJq3CYLe4M694RvyGgMDvByzrKyWZnJn9W
CAIx Donations are welcome to : XfapZedGAvDSQ9eJdx2gJZ1CQY9XyM5A3Y