On April 3rd, we listened to the StrongBlock AMA and created a short wrap-up giving information about all the topics covered in the conversation. Yesterday, a Medium article was released giving further information about the upgrade/migration which is supposed to start today, on April 5th. Here we will give you the most important information!
First of all, you can find the Medium article itself published on April 4th/5th (depending on where you live) right here. But, what is the essence of the article? What do you need to know about the upgrade?
The essentials of the STRONG to STRNGR upgrade starting on April 5th
First of all, claiming of STRONG will be stopped a few hours before the upgrade starts and it will remains unavailable until the upgrade is finished.
All rewards will be paid in STRNGR after the upgrade
Do you have a node right now? No matter if you have an Ethereum node, a Polygon node, or a Sentinel node, all rewards will be turned into STRNGR rewards and after the upgrade, you will receive STRNGR rewards only. This will happen on a 1:1 basis.
As the upgrade is complete, the price to create a new node will be 10 STRNGR (meaning that you will no longer use STRONG to create nodes).
- For Ethereum 2.0 pool, contributions will be upgraded to STRNGR, but rewards will remain in Ethereum.
- For the liquiduity pools (ETH/STRONG – LINK/STRONG) rewards will come as STRNGR tokens.
- A new pool for STRNGR/ETH will be added, and your LP tokens can be added to the platform in order to earn STRNGR rewards.
- All NFTs will have the same effect and function after the upgrade (reward boost coming in STRNGR).
What will happen to STRONG tokens in mining pools?
HERE IS THE WRONG ANSWER TO THE QUESTION
Are you mining with STRONG tokens? What will happen to those tokens? It was some confusion on this topic, but the following answer was given to that question on Discord.
This means that you will keep your STRONG tokens, but the rewards will come as STRNGR tokens.
THE CORRECT ANSWER TO THE QUESTION
Even though we received information that our Strong in the mining pool would remain STRONG, real life has told us otherwise, meaning that they have all turned into STRNGR tokens automatically. Currently, the STRNGR tokens are more worth, meaning that it is a good deal, but it is worth being aware of this no matter what!
What will be the price of STRONG and STRNGR after the upgrade?
This is one of the main questions and all investors are interested in predicting the future. What we do know is that STRONG will become incredibly scarce and very hard to acquire. But, STRNGR will not be easy to get either. Even though there will be a total supply of 10,000,000 tokens, only 528,886 STRNGR tokens will be circulating after the upgrade (the same as the total number of STRONG tokens right now).
So, all rewards will come as STRNGR tokens, but the tokens will not be “dumped on the market”, but instead the circulating supply will remain very conservative.
Based on this, it is hard to tell whether the price of STRONG will pump (or dump) and what will happen to the price of STRNGR. It might be that STRONG will become scarce, but seeing that it doesn’t really have any function yet (besides mining), it might be that people will rather use STRNGR and buy STRNGR to create new nodes.
But, also understanding the scarcity of STRONG, it might be that people will cling on to their STRONG tokens as if it was gold, and thus, the price will increase. Lots of people expect STRONG to increase in price, just check the tweet below as an example.
In other words, it is very hard to know what to expect, but that is probably a part of the Game Theory thought of David Moss, which means that we play the game and work, and then adapt and see what life will offer!
What will happen to unclaimed rewards?
You do not need to claim your rewards, but once you do so (after the upgrade) you will receive them as STRNGR tokens and not STRONG tokens.
Will there be an airdrop of STRNGR tokens?
Some earlier posts seemed to point in that direction, but in the most recent AMA and the last Medium post, the thought of a STRNGR airdrop has been removed, and the only change is that rewards will be turned into STRNGR instead of STRONG.
