There have been some exciting changes in the last few days, we now have PAL coin our brand-new token and also PALNet.io which is a Nitrous instance of Condenser. For more information please read the PALnet White Paper or a simplified version here.

You may have noticed that we closed our Community Upvote channel a few days ago as we are moving to a new system of rewards. Previously, registered members could type a command and recieve an upvote from the minnowsupport account. The new system is ready to go so here are the details!

_{Credit @elgecko}

How it works

As you will recall from our White Paper Palcoin Launch: A revised whitepaper and token launch by the Minnow Support Project this token offers multiple features:

Token Redemption (sinks)

Tokens can initially be redeemed for 1 of three things: upvotes, advertisements, and customizations.

Upvotes - The main account, @minnowsupport, currently allows anyone in the Discord community to use a command $upvote, and receive a low percentage vote on a post. After a year of trying to manage this we're still concerned that it leads to low quality posting. We'd like to continue to encourage posting, but we're attempting through this process to increase the quality.

Going forward users can exchange palcoin they receive for upvotes from @minnowsupport. The ability to store and use PALcoin later decreases the need to burn votes on a timer, which puts pressure to put out content on a schedule rather than when quality content is written. The goal remains the same of getting new users and active discord community members to post, but this approach we think will incentivize higher quality content.

A portion of the tokens received by the voting bot will be used to offset new inflation. A portion of the tokens will be distributed to delegators. To clarify, any SP owned by minnowsupport is stored to be issued as inflation instead of issuing new tokens. Any SP delegated to the bot will receive a portion of the daily PALcoin earnings relative to the percent on the bot.

Things to Know about the New Service

Community Standards

Please keep in mind The Minnow Support Project and PALnet community Standards to use this service, you can read Minnow Support Project Community Standards- "The Spirit of MSP" to know what posts are ok to use the service on. Failure to comply with community standards will result in an non-refundable vote removal.

Here Is A Helpful Guide on How To Get Unmuted By The Minnow Support Project
I've been muted by Minnowsupport, what should I do? Simple Edition

How to redeem tokens for Upvotes

You have 3 options

1. Steem-Engine (using Keychain)

In your Steem-Engine wallet you will see the icon to send your tokens as seen in the picture above, click this.

As you can see in the picture above you will receive a confirmation message of the operation and you are done!

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2. From Your palnet.io wallet

Go to your wallet in PALNet.io (palnet.io/@YourUserHere/transfers) and in PAL balance there is a down arrow. Clicking this will open a dropdown menu. One of the options is "Transfer", click this.

It will show you a window, fill in the required fields as follows:

To: minnowsupport, Amount: any amount but no less than 1 PAL, Memo: URL of link you want upvoted, see the example below.

Have any questions about PALNet, PALCoin or the Claim Drop?

here a few recommended post to help you out:

• Palcoin Launch: A revised whitepaper and token launch by the Minnow Support Project
• “How To” PALNet.io and PALCoin with Keychain and Steem-Engine.com
• PALNET: The dazed and confused user guide
• Palnet Quick Tip: Why No Claim Drop For Me?
  If you still have questions don't hesitate to ask in the channel #Minnowsupport-Help of our Discord Server