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UNTIL MAGNET SWAP

MAGNET COIN SWAP ANNOUNCEMENT



MAGNET was launched almost a year ago. Since then we have released several services
and created an inclusive MAG ecosystem including our biggest achievement to date: the release of
Magnet Merchant Tools which offer streamlined invoicing, checkout flow and truly decentralized B2C payments
to standalone and Woocommerce websites.

Our first year was also punctuated by many security challenges (including 2 hard forks)
that we successfully solved while creating unique solutions such as the secluded miners, and masternode meta data,
a 100% decentralized solution to masternode Proof-of-Work rewards.

After a thoughtful overview of our codebase, we have decided that we would need a major update to encompass
the latest technology improvements from Bitcoin Core and move forward with our infrastructure from solid grounds.


We have therefore decided to re-base our chain from a PIVX fork.
PIVX being a direct fork of Dash and Bitcoin Core(as well as a great team), we would then be able to incorporate security
and infrastructure improvements very quickly while focusing on the core features we bring to MAG users.

Most specs will remain unchanged and occurring protocol changes
will contribute to improved security and infrastructure.



Magnet Core Team will communicate in more details (date, timeframe, modalities)
in the coming days through announcements and blog posts so STAY TUNED!

IMPORTANT DETAILS


PARTICIPANTS

All holders of MAGNET [MAG] currency

LOCATION

Exchanges to be determined



WHAT IS COIN SWAP?

Coin Swap is the mechanism employed to move cryptocurrencies from one blockchain to another at a pre-determined rate.
As the coins on the initial blockchain may be incompatible with the new one, it becomes necessary to
initiate a swap to carry users from the old blockchain to the new one.



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