Allvor announces the end date of the Initial Distribution Program for XRP Holders
- Posted by: admin
- Category: Initial Distribution, News
Allvor informs the community about the end date of its ALV token Initial Distribution Program for XRP token holders. It will be on December 31 at 23:59 (GMT 00).
The program was created with the intention of engaging and establishing links with the XRP community.
The distribution, active since the beginning of the project, has as single rule that the user had an active Ripple account on March 27, 2018, which is the program starting date. To set the amount of ALV received, the Program considers the amount of XRP the user had on March 28 at 01:00 (GMT) (Ledger 37539810).
The user receives the ALV tokens according to the value they have in XRP, plus 30%, plus a standard amount of 5,000 ALV. For example, a user who had 1,000 XRP on March 28 may receive 1,000 ALV, plus 30% (300 ALV), plus a bonus of 5,000 ALV. In total, he will receive 6,300 ALV in his account.
To request a payment, the user must use the form available on the Allvor portal. Simply enter a trust line for Allvor into your account, enter the account in the appropriate field and request the payment, which is done immediately.
The distribution is limited to 1,000,000 ALV token per person. All details can be checked in the program’s regulation.
If you are not entitled to receive ALV from the Program, or if you have already received and wish to purchase a larger amount, this is currently possible in the XRP Ledger’s decentralized exchange (XRP Ledger’s DEX) by using one of the suggested wallets, such as GateHub, ToastWallet, or Harbor Wallet.
In 2019: user base growth and Allvor Pay in practice
The end of the Distribution Program for those who owned XRP on March 27, 2018 and the launch of Allvor Pay with the WooCommerce platform Plugin, which will take place in the coming weeks, mark a new phase for Allvor.
In 2019, the Allvor Project will continue to develop strategies to foster the community growth and expand its user base, including promotional actions for exchange listing, incentive programs to use Allvor Pay, targeted airdrops and other actions.
No Freeze and Blackhole of the issuing account
After the end of the distribution program, “No Freeze” and “Blackhole” of the issuing account will be announced in the following weeks.
With the “No Freeze” tag checked, The Allvor Project will not be able to freeze the ALV balances from any account (something that is currently possible). Blackhole means destroying the secret key from the Allvor issuing account. In practice, this means that it will become impossible to issue more ALV beyond the current issuance (100 billion), ie this ensures that the initial issuance remains the maximum limit of the existing ALV.
Details about No Freeze and Blackhole will be announced when they are made.