Thread by @daniel_wwf

PSA: The #CSCL #CasinoCoin to #XRPL $CSC swap has NOT started yet. While the XRPL CSC already available as an asset in #XUMM and you could send XRPL CSC to it, NO ONE OUT THERE does own any.

Instructions will be posted as soon as everything is ready.

You might see some low offers on the DEX but this is mainly the teams testing things.

The following accounts are official, everything else is NOT legit:

Issuing Account: livenet.xrpl.org/accounts/rCSCM…

Hot Wallet: livenet.xrpl.org/accounts/rCSCC…

Swap Wallet: livenet.xrpl.org/accounts/rCSCS…

So repeat after me:

The CSC swap has not started yet, you don't have to do anything for now :)

Things that are safe to say as of today:

- Swap only off-exchange
- Consolidate ALL your CSCL CSC into ONE account on a CSCL token wallet (casinocoin.org/downloads/)
- One swap per person, for logistics reason
- You will need an active XRPL account in XUMM or 26XRP to activate

(You can go with 20XRP as well, I just want to keep it easy)

About the increased supply: While we secured a considerable amount of funding in "hard cash", there are issues we can not solve with cash alone. Ill will address some of the arguments and reasons.

The additional 25bln coins will NOT be released into the market in one shot. That wouldn't make sense and we would end up with the old problem of having no coins.

The price of CSC was down to 0.0000000015BTC, that's ten digits. As of today, the injection is priced in.

Any argument that the injection would harm the price in the long run, ignores the fact of how we got back to where we are as of today. We were at rock bottom. The majority of the community supports the increase. So what are the coins going to be used for?

a) Liquidity: While cash is one thing in the equation, tokens are the other. It would make no sense to buy larger amounts of coins back and burn our investment in order to be able to provide it in some shape or form.

b) Exchange listings: Some exchanges require to pledge coins in some shape or form. In order to do this, we need to own some.

c) Paying fees for other services. Not every service wants to be paid in cash. It's not feasible to exchange FIAT for coins all the time back and forth.

d) Bounties: We want to be able to pay bounties again for people who do some really hard work by supporting us. May it be coding, designing stuff, supporting, etc. Those efforts need to be honored.

e) Possible bankroll agreement with operators if necessary. It's not feasible for every op to get the bankroll on the open market if they have dedicated ones, as taking CSC in, gamble in CSC, and pay CSC out.