1. What's the reason for PLY re-listing as PLX?
The main reason for re-listing is a business pivot for enhancement of profitability. Existing blockchain projects including PlayCoin have been undergoing chronic profitability issues, PlayCoin’s PLX re-listing is looking for stepping forward to be a better project with business diversifying and profitability increase.
2. What's the type of PLX coin?
PLX is based on ERC20 architecture.
3. Where I can proceed to swap to PLX?
PLX swap is available at the listed exchange, and the additional swap support will be announced later.
4. What happens to the existing exchanges with PLY listed?
If your PLY is in the exchange wallet, PLX swap will be automatically done. If you store your PLY in your private wallet (e.g.: Metamask, Qbao, etc.) please contact us. As stated in article 3, additional swap support will be announced later.
5. How do I swap my PLY to PLX?
If you are holding PLY in the listed exchange, the swap will be executed automatically. However, if you have your PLY in your personal wallet (i.e.: Metamask, Qbao, etc.), please refer to the answer 3 and use PlayWallet or listed exchanges.
6. So will PLY (ERC) disappear? Is there a due date for PLY to PLX swap?
PLY to PLX swap period has not been confirmed yet. If additional swap support plan is fixed, it will be announced shortly after. The existing PLY (ERC20) will be burned after PLX swap.
7. Why the re-issuance needed for business pivot for expansion and enhancement?
Since the business pivot is a form of alliance, the total valuation will increase dramatically. We acknowledged the need for a new smart contract is necessary. A big alliance with various projects definitely needs a new type of token, so we decided to re-issuance.
8. What is the PlayCoin Crypto Alliance?
PlayCoin Crypto Alliance (PLX) was formed in collaboration with various blockchain projects focused on profitability and sustainability. It is a next-generation project that continuously buys back a part of the profits of the federated structure and restructures it into a form that can give holders realistic profits with various realistic rewards. Businesses that are not profitable will be removed from alliance quickly and we will continue to expand the projects by focusing on real profits by collaborating with various projects according to the trend. Current profitable projects in the alliance are Coinfarm Online, Stellar, LifePharm, Philippines CEZA (Cagayan Economic Zone Authority) License, e-Commerce, and MCN business. We will add a few more projects soon.
9. What's the difference between PlayCoin Crypto Alliance and previous PlayCoin Alliance?
The previous PlayCoin Alliance is mainly focused on the game sector. However, the newly established PlayCoin Crypto Alliance is not just focused on the game, but on various scope of field to maximize the profitability by gathering of the quality projects.
10. The current PLY's total issuance amount is 1 billion, but PLX is saying 10 billion for its issuance amount. Wouldn't it be the disadvantage for existing PLY holders?
By looking at the overall expected valuation, we designed the new project for giving more benefits to our existing holders. Every PLY holder will receive PLX at the rate of 1:1, then another 200% bonus will be given away monthly for 20 months. We expect that would be the first half of 2020, and there will be many ways to decrease circulating PLX by having under the effect of lock-up. We will present every transaction transparently and maximize the profitability of our existing PLY holders and new PLX holders.
11. What is the reward plan for the existing holders?
As stated in article 10, there will be immediate swap right after the PLX listing at the rate of 1:1, and the bonus amount equivalent to 200% will be distributed in 20 months. The bonus amount will be decided by snapshot before the re-listing based on the PLY holding amount. From a month after the PLX re-listing, the bonus amount will be distributed by the amount checked with monthly snapshot and the current amount will be checked against the amount was held before one month. If the amount is lower than the first snapshot, the difference in amount will be calculated for reduced bonus. This is for the long-term PLY holder bonus plan and also circulating amount control with price defense.
12. How do I get my reward?
Current listed exchange will support the automatic monthly bonus deposit into the holders’ wallet. For those who are using the private wallet (e.g.: Metamask, Qbao, etc.) to store PLY, we will prepare the additional bonus deposit plan by separate announcement.
13. Is there any price defense plan while the issuance amount increases 10 times?
Even with the 10 times increase in the number of tokens, the valuation of the alliance is overwhelming. Additionally, most of the lock-up periods are set 2 to 3 years, making it around a similar circulation amount at the early stage of PLX.
14. Are those projects in the alliance all ongoing projects?
There are ongoing projects and some are about to launch. Please check the announcement through the official announcement channel.
15. When is the start of profit realization by each project?
Each project’s announcement channel will provide detail information regarding this.
16. What's the standard for the valuation for each project in the alliance?
In case the existing business is running, the company’s valuation data is used for valuation according to the terms of the contract with PlayX, and the projects currently in the planning stage calculated through objective valuations according to precedents and market size projections of similar projects.
17. Could you explain the PLX token circulation in detail?
1. Regular buy back 20% of the net profit generated by projects in the alliance.
2. PLX holders can participate in token sale with their PLX for the newly entering projects in the alliance.
3. The unidirectional swap of PLX to project’s token is available, making the PLX be the path of unlisted projects service.
With 3 plans mentioned above, we will try to make a higher demand than the supply of PLX for the increase in its price.
18. What's the meaning of the unidirectional swap of PLX to alliance's project token?
As mentioned in the answer 3 of question 17, if a project in the alliance is not listed on the exchanges with proximity or the token itself playing a role as the consumer goods, PLX can be converted to the project’s own token so PLX holders can use their services, making the PLX be the path of service payment.
19. Will the 20% buyback amount be burned later?
The actual burning of the token may cause the security token policy issues of listed exchange guidelines. We will perform alternative ways of burning such as a permanent lock or similar method to have the effect of burn.
20. After PLY's listing, there was no soar of the price and now the price is about 1/100 of the early price. What would be the reward for this?
We have been planning this new alliance project in a very sophisticated way to ensure steady profit sharing with our long-time awaiting holders. Not only the 200% bonus giveaway by the swap, but we will focus on the steady price increase as the primary goal of the alliance.
21. Can holders' opinion about the newly joining project be reflected?
We are planning the vote or similar democratic new project selection with our holders. Once the policy is set, we will announce it with no delay.
22. There are many lock-up plans on the token distribution section, will there be an announcement when the planned lock-up is released?
No. There is no plan for such announcement for that.
23. Even with the lock-up plans, existing PLY's circulation 1 billion will be just circulated at the early stage of PLX after the swap. Please specify the early-stage circulation amount.
The early-stage circulation amount will be the same as current PLY’s if the total amount of PLY is swapped.
24. What's the vision of the PlayCoin Crypto Alliance?
PLX enables the business pivot and spin-off. When a project successfully get on its track by proper accelerating, the project can be independent. PLX is sharing those projects’ revenue and sales, hence the bigger economy we can pursue.