Wow, here’s a year already! Silicoin's first Anniversary will launch SIT on the Ethereum.
Silicoin team has felt the passion of Crypto in the past year with our supporters. However, it is very difficult to realize our many innovative ideas in the Silicoin network rather than on Ethereum, so we decided to migrate temporarily from Silicoin mainnet to Ethereum to help us better complete the Silicon 2.0 upgrade.
Silicoin on Ethereum will be exploring more experimental and innovative NFT and WEB 3.0.
One is a new farming system with a Virtual PoB consensus mechanism, and the other is an NFT Marketplace featuring trade mining.
Reasons to consider moving to Ethereum
Ethereum has a very mature technical foundation in both NFT and WEB 3.0. Although Chia is also a good infrastructure choice for NFT, Ethereum is more stable and suitable to try more innovative development.
After the gradual exploration of Ethereum, we will definitely pick up our original ideas and return to Silicoin’s main network to realize the dream linkage between ETH and Silicoin.
Therefore, SIT will temporarily move from Silicoin main chain to Ethereum. It is recommended that all Silicoin participants complete the mapping of SIT as soon as possible. All your SIT in the exchange should also join the mapping to avoid any loss of assets.
How to operate
Transfer your SIT into the FutureCash wallet and wait for the auto-mapping. You can feel free to withdraw or transfer your SIT once the mapping has been completed.
To encourage your active participation, there will be 500,000 SIT lockers to incentivize miners to participate in the mapping, so the mapping ratio between the main network SIT and Ethereum SIT is 1:2. After the mapping is completed, the rest of these SITs used for mapping will be burned.
It is worth noting that the mapping deadline is 30th June 2022 at noon (GMT+0) when the deposit of FutureCash will be closed and all unmapped SIT may be lost in the future. So please pay attention to joining the mapping.