27 Feb Ethereum Classic Callisto (CLO) Airdrop/Fork Expected March 2-5 (2018)
The Callisto Airdrop is expected to occur for Ethereum Classic (ETC) holders between March 2nd and 5th, 2018. People holding ETC during a snapshot taken at block 5,500,000 will receive free CLO tokens at a 1:1 proportion to their ETC holdings.
Airdrops and Forks are one the best aspects of hodling. Free money.
How to Claim your Callisto (CLO) Tokens
Hold Ethereum Classic (ETC) in a wallet where you control your private keys such as MyEtherWallet or Metamask prior to the snapshot being taken during block 5,500,000. Once you have received the tokens after the snapshot is taken, check your CLO token balance and you should have received the airdrop.
Is it an Airdrop or a Fork?
On one hand its a fork in most ways, as parities are as of now connected with addresses, so there is nothing to “drop.”
On the other hand, each source aside the GitHub is depicting the minute when CLO tokens are available as an “airdrop.”
Either way, the outcome is the same: 1 free CLO for every ETC.
What is Callisto About Anyways?
Callisto is a blockchain technology that runs on the Ethereum Classic protocol. It introduces a cold staking protocol which rewards token holders for being participants.
Cold staking gives CLO token holders incentives for holding for a specific period of time, allowing them to earn interests without validating transactions as transactions will be achieved by the Proof-of-Work algorithm.
“The main goal of callisto is to research and develop a reference implementation of self-sustaining, self-governed, self-funded blockchain ecosystem and development environment,” explains the CLO white paper.
Callisto aims to establish a secure and contribution-friendly environment for further protocol development and improvements. It will rely on a built-in system of smart-contracts to achieve this goal.
It will be possible for Callisto smart contracts to be used on Ethereum classic blockchains and also ETC smart contracts run on Callisto blockchain effectively.
Callisto’s development team is also looking to settle a couple of issues identified with contract hacking.
Callisto’s Effect on ETC Price
Ethereum Classic’s price has surged from the $30 range to a high of over $40 in anticipation for the Callisto fork before a minor price correction.
I am anticipating an upwards price movement as we get closer to the fork, as many traders will move into positions to exploit the airdrop and receive free CLO tokens.
Ethereum Classic, is a remarkably stable cryptocurrency judging by its price trend compared to many other coins in the market. I wouldn’t expect any extreme volatility for the fork but traders should keep in mind that ETC price is likely to drop after the fork as profits would be taken by traders exploiting the airdrop almost immediately.
Whatever your trading plan is, it’s important to trade with funds you can afford to lose. Always Do Your Own Research. Here is the Callisto Whitepaper.
Hold on for dear life.