v1.02 Staking vs v2 Staking Release

We were super excited to share the release of staking v1 with everybody, and it went over very well. Over 100 Trillion Altrucoin was added to the vault in the first 24 hours, with a large portion of people staking for 10 weeks. We love the HODLers! However, several people ran into rising gas prices as the smart contract that controls the vault got called, and the prices got to the point that it was something we wanted to address.

We have been working on a v1.02 which will reduce the gas fees that are paid to interact when entering/exiting the vault, but also have plans to release a v2 in the future with new features.

The options: -Release v1.02 now and v2 later With this, we would release v1.02 in the next few days, with the only update being reduced gas fees. This will be good for new holders, but would not have a significant impact on current holders, except those choosing to leave. The team has a detailed plan on how the transition would happen. Users would be able to move tokens to the new vault or remain in the old v1.0 vault, though the old vault will have deposits disabled, so no new entry fees will be collected on it for the rewards pool. Regardless of if v1.02 happens, v2 will be released in 3-4 weeks. This will have several new features and upgrades, including even further reductions in gas fees.

-Finish v2 and release it With this option, the development team will focus efforts on finishing staking v2, including the gas fee reduction and the new features. It will be released in 3-4 weeks, at which point we will implement the transition plan.

Once the community votes on their preferred option, the Altrucoin team will release a detailed article on exactly what will happen within the process, as well as the options available to all coin holders. We have several plans in place to make sure that nobody loses money because of the transition.

If we release v1.02, this would mean transitioning to v1.02 then again to v2. A transition directly from v1 to v2 would prevent extra entry/exit fees.