Breaking Tradeqwik News
Some Tradeqwik customers received cryptic emails last night about a withdrawal that they did not initiate.
It wasn't phishing or scamming. Yes, the email actually originated from Tradeqwik, though it's technically a bug in the system.
So what happened?
First, your VTR holdings were doubled.
Why? Well, we're very close to rolling out the conversion feature which will allow you to play the market with any coins listed on Coin Marketcap without leaving Tradeqwik. You will be able to convert your VIVA into a representation of any other coin you want, but each conversion burns a treasury right. So just to make sure you have enough treasury rights to make some conversions, we doubled your holdings.
Second, if you owned 1180 or more VIP, your account was temporarily switched to drawdown mode and 24 of your VIP were converted to 24 VIVA. This triggered the cryptic email. You also received a test deposit of some additional VIP.
Again why? Well, we wanted to make sure you had some VIVA to convert.
Last night's extra Tradeqwik giveaway is being called the most significant airdrop in the history of crypto.
Third, if you'd like to try to make a manual conversion to a non-gateway asset at VIVA Peg, you have a one time opportunity to do this tonight with no fee. The details are in our main Discord channel. You might have to scroll back to find it, but the news came out not long before the publication of this article.
Why the manual conversions? It will allow the non-gateway assets to have some market liquidity before we formally roll out the conversion feature. It also allows us to test this new feature before it is fully automated.
Meanwhile, VTRs which do not get burned in conversions are set to automatically convert to VIP on November 5th. If this conversion were to happen tonight, each VTR would yield 100 VIP.
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Wow, so much technical blur in my mind or, maybe, it is only because it is early morning here and I'm half awake...
Nevertheless, this is great news and very positive updates on the situation. thank you so very much for letting us know. If I get to understand how to work Discord, I might even get to know more about the situation. Luckily, someone points out the ways down here in the comments section. What a GREAT community!
All for one and one for all! Namaste :)
Since scrolling back through history is a PITA, here's the detailed instructions. BUT, you will still need to come to Discord to get the full details. This will just save you from having to scroll back.
"here's what's needed.... Email title "Convert To vX" include the viva.id, the amount and the currency. "Convert vX to VIVA" viva.id, amount, currency Also note that if you make this in .csv style, that makes my job of copy/paste a little easier. These manual conversions are a 1 time courtesy, I will never do it again after tonight. They are done exactly at peg with no fees. Your current BTC, LTC etc can convert to non-gatewayed vX BITCOIN, LITECOIN etc and if you choose that option, you will receive a vX dividend payment equivalent to 3 days worth of dividends since that is now how long this maintenance cycle has technically lasted. Finally, you can also choose to pair jump directly, again at peg. Just say "Convert vX to vX, your viva.id, the amount of the base, the base currency and the counter currency, example. "Convert vX to vX" 1234567797,1, BTC,MONERO" You can request anything listed here.... https://api.coinmarketcap.com/v1/ticker/ for conversion to vX and be first in the new markets when they open. (keep in mind these conversion requests produce assets that cannot be gatewayed, but do pay interest)."
Here's another useful explanation:
"we will be creating markets that will look like BITCOIN/BTC, LITECOIN/LTC etc. The purpose of these markets is to separate out gatewayable assets from non-gatewayable assets (you can withdraw BTC immediately, but BITCOIN is just something that stores and transfers 1 bitcoin worth of VIVA, according to the coinmarketcap). Once the viva.cash gateway launches, the BTC, LTC, etc assets will be gatewayed there and TQ will be dealing exclusively in vX as designed. For now we just need to carry this load as we get the economy moving and I don't want to get into a situation where we end up with a fractional reserve that we would then have to remedy in order to make things work correctly again. So just keep in mind BTC = I want on or off of VIVA. BITCOIN = I want to hedge. BITCOIN and other vX will gain an interest rate in order to encourage their holding, and the more complicated formula that relied on reserves will just go away and we revert to a fixed spread again."
Thanks for clarifying and showing what step to follow.
Some super exciting times in TQ land. Loving all the customer-friendly changes.
nail-biting as well sometimes... lol
Firstly, I would like to thank you guys for this update. When I received that mail yesterday, I was so supprised not knowing what happened so I quickly went to decline the withdraw. I am happy,lucky and proud to be a tradeqwik customer and a TQS holder.
Many many thanks @tradeqwik for those breaking news.upvote and resteem your great post
By the way, guys, there are still some cheap Vivas on the market! My pocket is drained. Hope someone can get them soon...
Post of the day.you are a great man.Congratulation bro.best of luck.
Good! Hope we start seeing a lot of market movement at tradeqwik!
I will like to get started on tradeqwik formerly now. Any help on where to start from will be appreciated. I stumbled on tradeqwik a long time ago through the logo contest organized and in which I made my submission, but never really had time to peruse the platform. I got the mail as well and I will like help on where to get started.
Thanks for the post and very nice