This article was first published on Po.et Blog - Medium
Po.et and Echo Update — April 2020
What’s the latest on the Echo partnership?
Last fall, we announced our intention to partner with Echo to become our primary smart contract platform and allow for upgrading POE tokens into their native token. We made some great progress towards running Echo nodes, building on top of the new blockchain, and educating our community about Echo’s future. We also included a bonus period to help build momentum for the upgrade and raise additional awareness about Echo.
In February, public statements from the PixelPlex team introduced confusion about the technical details of how the upgrade from POE to ECHO would work through an intermediary “ePOE” token. Echo has the ability to bridge from an Ethereum-based ERC-20 token into a similar Echo-based smart contract whereby POE can be locked on Ethereum to be made available to use on Echo’s network. However, the announced plan was to upgrade POE into ECHO, not create a second asset and we did not want to deviate from that plan.
Since the confusion on the mechanics of the upgrade came up, the Po.et and Echo teams have been working to resolve the differences. As of today, we still do not have a solidified gameplan and have decided that it is in the best interest of everyone to reassess the terms of a partnership with Echo.
The Po.et team is in control of the upgrade contract and will begin sending back any POE sent to the contract this week. We have taken a snapshot of the contract with bonus amounts and will continue to honor the bonuses in the future Po.et network.
The POE will be sent back to the Ethereum address that you originally used in the upgrade contract. You will not be required to fill out any forms or need to give ...
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Po.et Blog - Medium