A Message from the team behind XPY.io

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Message from the team behind XPY.io

First of all, thank you for your loyalty! The team that developed and maintained XPY.io has always valued the community of people who joined us in a commitment to create a great product and value for its customers. The next chapter is now being written and we hope you will join us in helping to write it.

XPY.io was a business overlay upon an already established, but deficient coin with a tarnished reputation. For XPY.io trying to work with a broken coin was a setup for failure.

When we concluded these were barriers the company could not overcome, we also realized we had an opportunity to create a new brand, with cutting edge technology, and with a business model that works to incorporate them both.

We’re starting over from the ground up:

• New coin technology: a cryptocurrency called ION

• New business model: a gaming development company called ionomy.com

• For additional information about the ionomy.com business model and ION coin specifications, please see ionomy.com.

Because the ambitions of XPY were never fulfilled, we realized to build an effective company, we had to control the technology and make it work for us.

The XPY.io team drew important lessons from its year in operation. We learned that when dealing with something as sensitive as an investment platform, the underlying technology has to be stable and consistent. It’s just too hard to build a business when questionable technology is all that’s backing an investment platform. The coin technology needs both stability and the capacity to grow and evolve to meet new demands.

We also learned that the people involved in cryptocurrency are among the most resilient and generous we’ve ever come to know. We’re proud of that resilience, the generosity, and the enduring spirit of community that we all — not just the team, but all of us — have nurtured. At the end of the day, we’re about the people.

It has always been our goal to deliver value to our customers.

We now invite the community to take a quantum leap into new technology and a new business model that we believe can deliver real value. The new gaming development company, ionomy.com, and their business model involves growing the community of users of the new cryptocurrency, ION, through deployment of video games, a richly featured financial platform, and a social hub that keeps the community growing.

The technology behind the ION cryptocurrency is the newest POS version, powerful, adaptable, and secure. The people, as you know, are rock solid.

Initial Staker Offering details:

• XPY will have a fixed value of 8 to 1.
  Customers who hold XPY will be able to purchase ION stakers at a ratio of 8 XPY to 1 ION. XPY.io customers can use XPY to purchase ION stakers of three different term-lengths: 6, 9, and 12 months. The longer the term, the higher the base rate. ionomy.com will accept no more than 10 million XPY toward the purchase of ION stakers and reserves the right to set reasonable limits to protect the business model and its userbase.

• XPY will still be a coin.
  XPY is an open source project. XPY.io has never had control of it and has not been in charge of its development. XPY.io closure does not change that.
  All XPY used to purchase ION stakers in the ISO will be burned.

• All XPY currently held in stakers will be released to balance Sunday, April 3.
  Customers will have full freedom of choice and control over their XPY.

• BiTS in the ION economy.
  Customers will be credited 8 ION for each BiT they hold. Those ION will be held in 3 month Stakers at a base interest rate. BiTS remain held by the customer.
  BiTS will be the exclusive producer of “Electrons,” a valuable asset in the ION ecosystem.

• XPY.io platform will be closed permanately May 16th.
  All users have a little over 6 weeks to either remove their funds or purchase ION stakers in the ISO.

The ION Initial Coin Offering / Initial Staker Offering (ICO/ISO) period is 6 weeks. The Initial Staker Offering purchases using XPY will happen only on the XPY.io platform. If you hold XPY now and want to invest in the new coin, you will have a limited window of a little over a month to swap.

XPY.io will close for good on May 15th, so anyone who wants to purchase ION stakers directly with XPY must do so before the platform shuts down.

ION + ECONOMY = IONOMY

We look forward to this next step in the adventure with you into the new ION economy — the ionomy.

@huey This is awesome! I think this is the right move. There is just too much bad rep with XPY and you guys are way too smart to have to follow that. I’m excited about what this will bring! It sounds like you guys have been hard at work and its nice to have a clear road forward.

When you say BiTs, I’m assuming you mean that the current XPYBits will be converted to IONs?

@SIRacer09 said:

@huey This is awesome! I think this is the right move. There is just too much bad rep with XPY and you guys are way too smart to have to follow that. I’m excited about what this will bring! It sounds like you guys have been hard at work and its nice to have a clear road forward.

When you say BiTs, I’m assuming you mean that the current XPYBits will be converted to IONs?

BiTS will continue to play an important role, especially initially, as a primary producer of Electrons, a valuable new asset in the ionomy that can boost your Staker yield.

Nice move.
But there is one thing i dont understand:
8 XPY for 1 ION
and
1 Bits you get 8 ION.

Am i wrong with this? So 1 bits= 8 XPY while it is sold for 0.0035-0.007 BTC a piece which is more then 8 XPY?

Please explain.

Just want to understand.

@Paycoin_Asia said:

Nice move.
But there is one thing i dont understand:
8 XPY for 1 ION
and
1 Bits you get 8 ION.

Am i wrong with this? So 1 bits= 8 XPY while it is sold for 0.0035-0.007 BTC a piece which is more then 8 XPY?

Please explain.

Just want to understand.

BiTS in the ION economy.

• Customers will be credited 8 ION for each BiT they hold. Those ION will be held in 3 month stakers at a base interest rate.

• BiTS will be the exclusive producer of “Electrons,” a valuable asset in the ION ecosystem.

So that means i will keep my bits and get 8 IONS for each i have?
Or each bit will be replaced for 8 ION each?

@Paycoin_Asia said:

So that means i will keep my bits and get 8 IONS for each i have?
Or each bit will be replaced for 8 ION each?

Most probably option 1 since bits act like some sort of primes creating those so called electrons.

@Mrdeeds Ok, thank you.

We will be rewarded with 8 IONS for each Bits and keep the Bits. Nice.

Soo what’s happening with xpy? I assume now the only usable solution is going we have to switch or we’ll lose everything including all the reinvestments some of us have made over the last year? At this moment in time I’m not overly keen on switching everything for another unknown, sounds risky 🙁

Looks like buying xpy at going rates gives you a better deal for buying ion. At going rate 8 xpy is worth somewhere around 17 cents. So that’s 17 cents per ion if you pay with xpy instead of 20 cents at week 1 of the ion ico.

@nrps1 said:

Soo what’s happening with xpy? I assume now the only usable solution is going we have to switch or we’ll lose everything including all the reinvestments some of us have made over the last year? At this moment in time I’m not overly keen on switching everything for another unknown, sounds risky 🙁

Nothing is happening with XPY. It’s up to you to decide how much to convert.

Just bought 250 ION to test but i dont see them in my xpy.io site

@Mrdeeds said:

Looks like buying xpy at going rates gives you a better deal for buying ion. At going rate 8 xpy is worth somewhere around 17 cents. So that’s 17 cents per ion if you pay with xpy instead of 20 cents at week 1 of the ion ico.

Keep in mind your ION Stakers are locked for a least 6 months, whereas if you buy at ICO it’s not locked.

So whats happening with the mining power ? I have purchased 1,32 ths to support xpy .if xpy.io Closes the doors.what happens to my mining power. Do yo buy back the power ? Or are we able to mine ion with it ?

@broyhill said:

@Mrdeeds said:

Looks like buying xpy at going rates gives you a better deal for buying ion. At going rate 8 xpy is worth somewhere around 17 cents. So that’s 17 cents per ion if you pay with xpy instead of 20 cents at week 1 of the ion ico.

Keep in mind your ION Stakers are locked for a least 6 months, whereas if you buy at ICO it’s not locked.

Yes. But it stakes with at least 25% APR

@broyhill said:

@nrps1 said:

Soo what’s happening with xpy? I assume now the only usable solution is going we have to switch or we’ll lose everything including all the reinvestments some of us have made over the last year? At this moment in time I’m not overly keen on switching everything for another unknown, sounds risky 🙁

Nothing is happening with XPY. It’s up to you to decide how much to convert.

But the issue is without xpy.io there’s nothing left for xpy, and this announcement has just doomed it to 0.000 within a couple weeks, so we’ve finally lost our thousands of investment without getting a choice 😢

@Shaerox said:

So whats happening with the mining power ? I have purchased 1,32 ths to support xpy .if xpy.io Closes the doors.what happens to my mining power. Do yo buy back the power ? Or are we able to mine ion with it ?

Mining contracts will remain active.

Congratulations to the team, ION sounds exciting…

however I feel a bit JG’d all over again. Cant say I didn’t see this coming, looks like you dump your xpy now or switch to ION and hope that its worth something in 6 months when the stakers release… so my 170k xpy is converted to 21k worth of ion… feel like my hands are tied because like someone said above… without xpy.io XPY has nothing.

@huey thanks for good news, i for one have stakers expiring end June, what and when will happen to them?

@zok said:

@huey thanks for good news, i for one have stakers expiring end June, what and when will happen to them?

• All XPY currently held in stakers will be released to balance.
  Customers will have full freedom of choice and control over their XPY.

I might be too early, but tried to sign up on Ionomy.com and was told that my email address was already in use. Are you migrating the whole of XPY.io and if so, what about the 2FA - that might not work when transfering?