TWINS progress: New Exchange, Wallet update and coins burning

vcxv (41)in #bitcoin • 6 years ago (edited)

In this article I will write about the progress TWINS has made in the last week.

Background
TWINS is the crypto currency of win.win project. Aim of the win.win project is to create a truly decentralized exchange platform with cross-chain atomic-swaps capabilities to facilitate the direct transacting of value between network users.

The TWINS cryptocurrency will be used to power the exchange platform for buy and sell order listings and to reward the community-supported and decentralized hosting of network nodes.

New Exchange
Till now TWINS was available on only one exchange Bitsane (link available in the end of the article). This week Twins has been listed on another exchange p2pb2b.io .

P2PB2B is an Estonian cryptocurrency exchange which was established in 2014. At the time of writing the exchange is listed on 26th on Coinmarketcap. This exchange requires KYC for even crypto withdrawal but the good thing is that their KYC process is quite simple and quick. A user can get KYC complied in just a few minutes by automatic process.

TWINS has done a good job in getting itself listed on another top 100 exchange. This is good for a project which is just one month old and have not had any ICO. This also paves the way for coinmarketcap listing of TWINS. They have applied for it and in just 1-2 days it might be listed there.

Wallet Update
TWINS core wallet was updates in this week to TWINS Core version v3.2.0.6 . This update brings some security fix to the TWINS wallet. All masternode owners and stakers are requested to update the wallet.

As per guide posted in the Discord channel, master node owner need not restart their wallets from the local PC. only the remote VPS needs to be updated which can be done by following: (copied from the Discord channel)

Instructions for your manual VPS masternode update:
./twins-cli stop
wget https://win.win/wallets/twins-3.2.0.6-MN-x86_64.tgz
tar xvfz twins-3.2.0.6-MN-x86_64.tgz
./twinsd
./twins-cli getinfo

you should see "version": 3020006

Normal wallet users simply can install the newer version on their PC, just remember to take the backup for security purpose before starting the process.

150M TWINS Burnt
A community voting was organised in the Discord and as per the voting result it was decided that from 1 march onwards weekly Dev funds will be used to pay for the bounty activities. For the TWINS deposited in the Dev wallet till now except for 20 M Twins which were sent to new exchange for liquidity purpose, all of the TWINS available in Dev fund was to be burned.

The burning process has been completed. A total of 150M $TWINS have been burned in 2 transactions at blocks 46359 and 46394. The burning process has been recorded and can be viewed by any at -

This is a great news for TWINS holders, because their TWINS are now more valuable. The total marketcap has been reduced by 25% due to burning but this gives more value to the TWINS.