Welcome Bitcoin Air Community,

We are currently only 21 days away from our snapshot date, (November 22nd, 2018). For starters, we’d like to thank those of you who have been with us from the beginning for all your contributions towards helping the community grow. Without the support of the community all of our efforts would be in vain. Secondly, we’d like to welcome all newcomers to the Bitcoin Air project. We have been hard at work building our private testnets, establishing key partnerships that will spur our growth and adoption, as well as working on the tablet, desktop and mobile applications. As every good project should, we will focus the bulk of our efforts on developing solid tech before we “shill” our project to the masses.

With that being said, there are a few topics we’d like to officially cover before the snapshot. The first being what are the distribution ratios of XAP for Bitcoin and Peercoin holders?

Distribution Ratios

Bitcoin Air Distribution Ratio

The exact block from which the snapshot will be taken on November 22nd will be announced closer to the snapshot date. We have an estimate based on current mining rates but there is no point in releasing the block until it is certain. As you can see in the diagram above; Bitcoin (BTC) holders will receive 1 XAP for every 1 BTC they hold at the time of the snapshot. Peercoin (PPC) holders will receive 1 XAP for every 20 PPC they hold at the time of the snapshot. A list of exchanges and wallets that support the airdrop will be posted before November 22nd for those who would prefer to keep their coins on an exchange or wallet service.

Secure Airdrop Claim (No Private Keys Required)

For those of you who weren’t present when it was discussed in the chats, you will NOT require you to use your private keys to claim your Bitcoin Air.

Any address that held Bitcoin or Peercoin at the time of the fork, will be able to claim Bitcoin Air simply by signing a message with their wallet. This was done both for security and so Peercoin holders would not be required to move their PPC as staking age is important for them.

Our Blockchain will also be extremely light to begin with, since we are not handling this fork via importing and merging the UTXO. Instead, the entire supply is being mined in the genesis block and then our difficulty will be adjusted to fit in par with the current supply. The Blockchain will then be security audited and released publicly to be reviewed by any developers who would like to do so. This will also open the network for miners to begin getting in early and aid in dispersing the Airdrop to the addresses that begin to claim Bitcoin Air by signing a security token provided to match the Public Key holding Bitcoin at the time of the Snapshot. Once you guys sign the message and place the signed message in our claim script, it will allow you to claim the allocated amount of XAP to your XAP Wallet.

In previous forks, you would have to risk security, and move Bitcoin out of your wallet and then provide this private key. We are removing this risk for our users, and also making it easier for exchanges to adopt a secure form of claiming Bitcoin Air. Instead of exchanges needing to provide their private keys to claim XAP, they will simply sign a message with their hot wallet and disperse it as necessary within their central database.

We will give every exchange and person a year to claim their XAP, afterwards we will burn the remaining unclaimed supply for our 1 year release anniversary on December 22nd, 2019.

Free for All Airdrop

If you were an early member you may have noticed or commented on the change in distribution ratio for Peercoin holders. Essentially we are implementing “whale protection” on the initial supply of XAP. It will now be prohibitively expensive for one individual or a group of people to acquire enough PPC to obtain controlling interest in the network. Additionally this allowed us to establish a “community fund” that will be used to stimulate community growth and directly reward community/network participation. The Free-For-All bounty will be handled via our custom Rain Bot, that will rain free XAP directly to active members in our Discord chat. This will give all new comers a chance to gain XAP even if they couldn’t afford it at the time. Or didn’t hear about the fork announcement. We want our distribution to be broad and cover as many people as possible. Although Bitcoin Holders will receive majority of the airdrop, everyone will have a chance to get a bit of XAP for simply being active in our community, voting, and helping out where needed.

As always, feel free to bring up any questions concerns or just drop by to say hello and see how things are going.

Thanks for your support,

The Bitcoin Air Team