https://poswallet.com is an online staking wallet serving up more than 70 of the most common PoS altcoins, along with block explorers and faucets for each coin. There are NO deposit or withdrawal fees for users – revenue is generated via a flat fee on staking plus initial coin listing fees paid by developers. Nearly 100,000,000 altcoins have been staked and distributed to user accounts over the past 14 months.
Once the PoSW coin is launched, all profits will be paid to PoSW holders in the form of PoSW dividends. We will cover the hosting/server/business costs with all extra profits returned to PoSW coin holders, in a transparent fashion. Proceeds from the coin pre-sale will pay for the development of new features, server upgrades and additions, and other business expenses that will make https://poswallet.com a one-stop-shop altcoin portal.
The goal of the PoSW coin is to maximize investor ROI by driving increased revenue through poswallet.com – rolling out new features, top notch customer service, and a crack marketing team will help drive to this goal.
The dividend schedule is one of the main benefits of owning PoSW coins. Dividends will be paid out at the beginning of each month – these are in addition to the coins earned via the 1% stake rate. As described below, the total coin count will be kept at 250kk by burning coins from the dev address to balance the 1% proof of stake earnings by the users. Dividends will be sent to all addresses holding coins based on the earnings at poswallet.com for the previous month (plus any extra bonuses for said month). The dev PoSW address will not earn any dividends, further enhancing the user-purchased PoSW dividend ROI.
A hypothetical earnings situation is demonstrated in the chart below (assumptions include a 1kk starting PoSW balance on 1/1/2017, a static PoSW price over time, earnings growth of https://poswallet.com over time, and 50kk PoSW purchased by users before 1/1/2017. These are all assumptions for the sake of this example).
The left axis (and blue bars) show the user PoSW balance over time while the right axis (and dashed line) show the ROI (return on investment) for the user in this situation.
The above chart is for demonstration and explanation purposes and is not a guarantee of any ROI. We took our best guess based on poswallet.com monthly earnings performance and 5 years of bitcoin/altcoin experience among the PoSW team.
Dividends will be calculated (on a per address basis) by the formula: (address balance) / [(total money supply) – (dev address holdings)]. PoSW dev addresses will never earn dividends or stake after the coin launch. PoSW dev addresses will be identified publicly at launch.
The PoSW pre-sale is currently underway at https://poswallet.com/posw.php (you must either log in or sign up for an account at poswallet.com to participate in the pre-sale). A unique BTC address will be generated for purchasing PoSW at https://poswallet.com/posw.php once you sign up/log in.
The PoSW pre-sale will run until midnight on January 1, 2017. Pricing for the pre-sale is as follows:
Before 12/01/2016: 0.000001 BTC/PoSW
- Before 12/14/2016: 0.000002 BTC/PoSW
- Before 01/01/2017: 0.000004 BTC/PoSW
Your PoSW balance will be updated to reflect any purchases after the BTC transaction has been confirmed 10 times.
When the wallet is released (early to mid-Dec 2017, more details on timeline below), PoSW private keys will be given to each user for their pre-loaded PoSW address.
A maximum of 40,000,000 PoSW will be sold during the PoSW pre-sale. This is to help maintain price stability as well as to raise only the funds needed to expand poswallet.com and drive month over month revenue. Any coins not sold during the pre-sale will be held in the developers address for future organized coin sales, bounties, and faucet rewards. No coins will be dumped by the developers onto exchanges at any time.
The following pre-sale bonuses will be applied based on the number of PoSW purchased by a user. Bonuses will be applied on 1/1/2017.
- 100,000 PoSW – Bonus 5,000 PoSW free
- 250,000 PoSW – Beta test all future new features on poswallet.com
- 500,000 PoSW – Bonus 50,000 PoSW free
- 1,000,000 PoSW – 1oz 0.999 silver bar with PoSW address engraved
- 5,000,000 PoSW – Bonus 250,000 PoSW + 8 x 1oz 0.999 silver bar with PoSW address engraved
The initial market supply of PoSW was capped at 250,000,000. We decided to reduce the final supply by burning coins from the developers address. These will be burned at the beginning of each month when the dividends are distributed. The final supply will be only 70,000,000 POSW.
All coins were pre-mined to control the coin supply and maintain price stability reflective of https://poswallet.com revenue and dividend growth.
PoSW Timeline and New Features
We have a dozen or so major features we plan on adding to https://poswallet.com to increase revenue growth over the next 6 months. As these features are closer to implementation and beta testing, we will announce them in this thread. For a teaser – altcoin exchange integration to staking wallets and expanding to serve > 300 altcoins. More info soon!
PoSW will be listed on at least 3 exchanges by January 2017 – developer funds will be used to pay coin-listing fees/marketing fees for further exchange listings as needed.
PoSW Coin Technical Details
- Abbreviation – PoSW
- Algorithm – Scrypt (PoW/PoS)
- Max Coin Supply – 70,000,000
- Coin Maturity – 20 blocks
- Stake Rate – 1%/year
- Target Spacing – 64s
- Confirm Count – 10
- Min Stake Age – 8hrs
- Max Stake Age – none
PoSW Silver Bars
Each user that purchases >= 1,000,000 PoSW during the pre-sale will receive a custom 1oz 0.999 silver bar with their PoSW address engraved. After the pre-sale is complete, these will be available for any user to purchase.
Example engraved 1oz silver bar shown below.
Windows is available here! Linux, and source code wallets will be available in later time. Tentative date is mid December to poswallet.com members and hard due-date of January 1, 2017 for general audiences.