We are excited to be joining the BitTorrent ecosystem and migrating to the TRON blockchain as we mentioned in the previous announcement. The migration to the TRON blockchain is expected to complete on or about April 15th, 2020.
Today, the Lino project foundation announced that it will officially discontinue support of the Lino blockchain as of 12:00:01am Pacific Time on April 15, 2020 (“Cutoff Time”). Following the Cutoff Time, the Lino blockchain will no longer be live, and LINO tokens will no longer be transferable or have any value or utility.
To ensure a smooth transition, DLive users who hold LINO may continue to use their tokens through the Cutoff Time as follows, depending on your jurisdiction.
United States Only
DLive will accept LINO for the purchase of Lemon on the DLive platform. Lemon is a fixed-value platform currency used in DLive and can only be used to make purchases and donations on the DLive platform.
To use your LINO to purchase LEMON, you will need to meet the following requirements:
- Minimum LINO to convert = 1 LINO
- 1 LINO = 1 Lemon
- Available starting January 15th, 2020
Please note that if you are a streamer and would like to utilize the “Get Paid” function on DLive for your Lemons, you will need to meet the minimum requirements for all users of DLive.
- Verify your email
- Upload a government ID and be at least 16 years of age
- Stream on DLive (3/3 days and 8/8 hours)
- Minimum of 4,250 Lemons
If you will not be utilizing the “Get Paid” function on DLive, you will still be able to donate your Lemons to various content creators on DLive.
The Lino blockchain will no longer allow you to use LINO to purchase LEMON after the Cutoff Time.
All Other Countries (Excluding United States)
For DLive users outside the United States, we have partnered with the BTT Foundation to allow you to receive a number of BitTorrent (BTT) Tokens based on the number of LINO tokens you hold.
To participate, you must create an account on Poloniex.com.
- Minimum LINO to convert = 1 LINO
- The BTT exchange rate will be based off the BTT market price on Poloniex.com at the time you choose to convert
- A 3% premium will be granted to LINO holders who participate
- You must create an account on Poloniex.com to receive BTT
- Poloniex.com is expected to list BTT in mid-February
- Your Lino account will require you to follow certain instructions and agree to a set of terms and conditions
- Available starting February 25th, 2020
What happens to Lino blockchain and LINO Coin/Stake after migration on April 15th?
Beginning January 15th, 2020 at 10 pm PST, Lino blockchain validators will implement an upgrade that allows all Lino Stake to be staked out in 1 day. This means all stakes that have been processed before this time and after this time will all be staked out into LINO within 1 day.
For DLive users who wish to retain their LINO Stake, staking rewards are expected to continue functioning until the Cutoff Time.
DLive strongly recommends that all DLive users who hold LINO Stake stake out before the Cutoff Time. After the Cutoff Time, the Lino blockchain and LINO Coin/LINO Stake will no longer be supported. There is no assurance that LINO tokens can be transferred or that there is any value or functionality on the LINO blockchain after the Cutoff Time.
Changes to the DLive Platform after April 15th, 2020
- Lemons will remain on DLive and transactions will be recorded on the TRON blockchain
- In place of the Lino account/wallet to check balances for Lemons and LINO, users will now have a DLive wallet to check balances for Lemons and BTT
- The new DLive wallet will support BTT
- Staking features for BTT on DLive
- Vote for DLive features
- Receive DLive consumption rewards
- BTFS will be integrated into DLive to allow longer past broadcast storage durations
I hope you’re ready, because the BitTorrent engine is just getting warmed up!