PRiVCY project update part I

privcy (29)in #privacy • 5 years ago

Hey guys, long time since we posted here but PRiVCY project is still alive and kicking. We will post a short recap in two parts to inform you what happened since the start of the project.

PRiVCY background info, part I

June 2018:

Official launch of the project after 3 months preparation
by the 3 founders PRiVCY, PRiVCY Manager and PRiVCY CMO.

Name: PRiVCY
Symbol: PRIV
Max supply = 30 Million
Premine = 21 Million
Algo = X-13
Block time= 45 seconds

Premine distribution:

Marketing/Bounty Fund = 2.500.000
Giveaway Fund = 500.000
Development Fund = 4.000.000
Founder/Investor reward = 3.000.000
Airdrop Fund = 11.000.000

The distribution of the Airdrop fund is divided in a series
of 20 weeks airdrops. First airdrop took place on June 9th 2018.

After a great start the BCT ANN page got deleted due to many spam posts. A new ANN page is setup and stricter rules for posting are incorporated.

October 2018:

20th and last Airdrop took place, completing the weekly series.
A total of 11 Million PRIV is freely distributed this way.

November 2018:

On November 7 approximately 275K PRIV get dumped at market on CREX24. A quick repsonse from the team prevents another 750K from getting dumped, with cooperation from CREX24 the wallet containing the remaining 750K PRIV gets frozen. Founder/dev PRIVCY reports that his wallet containing 1M coins got hacked and its these coins that found their way to the exchange. Community is informed and the founder/dev promises to report the hack to the designated authorities.

December 2018:

A series of monthly mini-airdrops is started to reward the holders. In the meantime we were still waiting for some clarification about the hack and a filed police report.

January 2019:

It stays quiet from the side of the lead founder/dev PRIVCY. There has been no contact since mid december. development stalls.

February 2019:

It became clear that the lead founder/dev left the project without any notice. The whole "hack" story looks like a hoax in hindsight. The most likely scenario is an ordinary scam exit dump. With the exit of the founder/dev we encountered
a list of problems that needed to be addressed.

No control over the servers (Website, explorer, forum)
-Limited control over the discord server
No control over the project funds (6M)

The team asked Bob-bit to be the new project leader and starts a search for a new developer, prepare a hardfork to regain control over the project funds and rent new servers. New explorer and website is needed. With help of
PRiVCY-CMO essential project info is gathered, shared and stored.

March 2019

Hardfork is executed. The old wallet address containing the project funds are blocked and the same amount of coins is premined again, and sent to a new project fund wallet. To reward the community the 10% POS is extended for a second year. After some minor hiccups in the days following the hardfork things finally begin running smoothly. Additionally the new website is released. Its the rebirth of PRiVCY project.

April 2019:

To reward the community one final Airdrop is executed
A new roadmap is released
Donation fund is setup

May 2019:

The new PRiVCY discord server is opened. A new start for the project. To get more exposure and serve the community with some fun and games the Pandabot is bought with donations from the team and communitymembers. New marketing and promotions are started to attract new members/investors to the project.
A new exchange listing is finalised (Altmarkets) and the new MAC wallet is released!

Thats it for part I, the second part will follow in a couple of days.

Thank you for reading.

PRiVCY Core Team

Website: https://privcy.eu/
Discord: https://discord.gg/TmGZcgp

Whitepaper: https://privcy.eu/assets/documents/whitepaper-v1-en.pdf
BitcoinTalk Forum ANN: https://bitcointalk.org/index.php?topic=4503790.0
GitHub: https://github.com/privcycoin/privcy
Wallets download: https://github.com/privcycoin/privcy/releases/
Explorers: http://explorer.privcy.eu/
https://www.blockexperts.com/priv
Twitter: https://twitter.com/PRiVCY_COIN
Facebook: https://www.facebook.com/PRiVCYCOIN/
Reddit: https://www.reddit.com/r/PRiVCY/
Instagram: https://www.instagram.com/privcy_official/
Official Telegram Channel: https://t.me/PRiVCY_announcements
Telegram community channel: https://t.me/PRiVCY_community
Crex24:
https://crex24.com/exchange/PRIV-BTC
https://crex24.com/exchange/PRIV-ETH
https://crex24.com/exchange/PRIV-RUB
https://crex24.com/exchange/PRIV-JPY