SNT airdrop for MaidSafeCoin Holders

Hi, I’ve read the topic: RFC 0061 - Safe Network Token Distribution, but it’s still not clear to me how the airdrop works for MaidSafeCoin holders.

Can anybody please clarify when and how to redeem my MaidSafeCoin for SNT?
Many thanks.

Details of how to convert won’t be available until later, around launch I expect so keep an eye on the updates. The mechanism will involve sending to a burn address, but more than that I can’t guess.


I see, thank you.
The topic I mentioned above stated: “Start Date: 23 June 2022”.
Was is it then deferred because of some issue?
Is there any estimate of the actual distribution start date?

Ah, that was the start date of the RFC process itself, not launch.


Wait, did they just devalued MaidSafe holders by 90% / created x10 more supply ?

Why did we hold that for 8 years again ? :face_with_diagonal_mouth:

An RFC is a proposal for discussion (Request For Comment) so specifics are undecided and no dates have been proposed.


No … they did not :wink:


Hmmm, good question. Unless the cap target is not less than 10x the amount they raised on the 2014 ICO, that doesn’t seem fair at all to the MaidSafeCoin holders.
I tried to read through that lengthy topic but couldn’t find a clear explanation.
Can anybody clarify?

That’s not how crypto works. Monetary inflation is a good thing when you start with only 10-20k holders.

There must be, I repeat there must be meat on the bone for the next 8 billion people who did not buy from the token in 2014 or the network will be forked.

You want to have a small slice of a huge pie, not a big slice of a miniature pie.

Privacy. Security. Freedom


That sounds about right. I was wrong about my initial assumption.

But, what’s up with the genesis supply ?
How come it went from 452m safe tokens to 1356m ?

Total supply of maidsafe tokens - MAID and eMAID == 452,552,412

Total supply of SNT (safe network tokens) will be around 10x of the supply of maidsafe tokens.

This has been the same from the beginning. Nothing has changed as far as I am aware.


The original proposed supply of SNT out of its total was to be the 10% for MAID holders and the 5% reserved for investors. Total SNT was always to be 2^32 - approx 4 billion, as @TylerAbeoJordan said

Now it is that (10% + 5%) with an additional 15% held by the foundation.

That 15% is not for the foundation but advance holding for the foundation to pay out the non-farming rewards, They hope to make that automatic but if it cannot be done that way by launch then by human. Core dev rewerds is likely to be under the foundation control because of the difficulty of determining the worth of any work done.

The 15% is an advance holding, not the totality that will ever be paid out for non-farming rewards/royalties.

Also remember that as people purchase resources those SNT will go back into the network to pay out any rewards.

In essence there is not an increase in initial supply as far as the market should be concerned with, as informed traders would know. That extra 15% would be used in that manner anyhow under the original proposal, just handled differently.

The difference is in the small portion being given for the foundation to do its work related to this.