Irrespective of where evolution takes the DMD Diamond blockchain, the ecosystem will continue to build on its previous version. The next upgrade—the DMDv4 and its native DMDv4 coins—won’t be an exception, thanks to the unique DMD Diamond blockchain’s vision and coin economic design principles.
With your existing DMDv3 coins, you can claim equivalent DMDv4 coins in a 1:1 manner following the DMDv4 mainnet release. However, before the launch of the DMDv4 mainnet, a DMDv3 snapshot block would be created, and its announcement would happen at least 14 days before the mainnet launch. A week is the planned time for the snapshot. During the snapshot period, all exchanges supporting DMDv3 would halt DMDv3 coins’ deposit and withdrawal to prepare for the claim of DMDv4 coins.
All exchanges supporting DMDv3, such as Bitmart and P2PB2B, have promised to support the DMDv4 switch automatically. A reminder is to always consider using Bitmart, as they appeared to be more stable over the years. Manual claiming is also possible for DMD Diamond coins in the DMDv3 wallet, where you can access the linked private keys. Suppose you have your DMD Diamond coins held at multiple addresses. In that case, we advise you to withdraw all the coins to a single address to ease the claim process for your DMDv4 coins.
Read through the DMDv4 coin’s claiming guide and learn how to claim stepwisely. Suppose you don’t want your coins to return to the pool of coins after the DMDv4 mainnet launch. In that case, you must adhere to the DMDv4 coin’s claiming timeline below:
- Between the first three months of DMDv4’s main net release, DMDv3 coin holders will be able to claim a full amount of DMDv4 coins.
- Between 3-6 months of release, DMDv3 coin holders can only claim 75% of the coins, while the remaining 25% are returned to the coins pool as lost coins.
- Between 6 months and 5 years, DMDv3 coin holders can only claim 50% of the original coins, while the remaining goes back to the coins pool.
- The claiming period ends after 5 years of the main net launch! All leftover DMDv3 coins are then redirected to the governance and reinserted pot.
In conclusion, all lost coins are used for validator rewards and to fund the DAO. Also, after the DMDv4 main net release, we will stop supporting DMDv3 developments. Therefore, it is necessary to learn how to prepare for DMDv4 mainnet release and maximize the claim of DMDv4 coins.
Learn more on our whitepaper!
