The Po.et Foundation and LTB Network are pleased to announce that 1% of the total POE token supply has been allocated to the holders of LTBCOIN in a first-of-kind token retiring event. Founded in 2014, LTBCOIN was the first token given to content creators and community members according to their contribution to the network.
LTBCOIN specifically serves as a crypto-reward system within the Let’s Talk Bitcoin (LTB) network, a publishing platform created for content providers to present the ideas and people involved with cryptocurrency - through podcasts, articles, and discussion forums. Participation in the network is rewarded with LTBCOIN tokens, which were intended to be used for in-platform purchases and tipping.
We’re particularly excited about our partnership with the LTB Network because of our shared vision for the future of digital publishing. LTB was an early pioneer in both covering the bitcoin and blockchain space as well as using blockchain technology to propel their publishing workflow. The LTB Network created token controlled-access forums and was the first platform to launch a rewards program through a native currency. We’re confident that their domain expertise will play an integral role in how we create future disruptive solutions for digital publishers.
LTB created LTBCOIN in a much different token climate. Early adopters of LTBCOIN were not as concerned with the potential future value of the token as much as they were with experimenting and testing the boundaries of a new technology. While both the LTB Network and Po.et are concerned with empowering content creators, LTBCOIN was always an unfunded, volunteer program, lacking the resources to truly realize the potential. We’re happy to reward the early pioneers of blockchain-powered publishing through this token swap. It is our hope that owning POE tokens will continue to motivate their pursuit for a more efficient publishing landscape.
Adam Levine, Founder of the LTB Network, believes “Po.et is an elegant solution to one of the biggest real world publishing problems. At the LTB network, we’re excited to become one of the first fully integrated publishing platforms which will allow all written content to be published through and easily re-licensable with the Po.et project.” The LTB Network will be timestamping their content onto the Po.et network and registering Po.et licensing badges for their works. You will be able to see their individual content profile on our alpha release.
How to Complete the Swap
Token holders must navigate to the LTBCOIN to POE conversion page to complete the token swap. Users will be asked to select the amount of LTBCOIN tokens they wish to swap. The exchange rate will be 6.64 POE for every 100 LTBCOIN deposited.
LTBCOIN holders also must create and back-up an ERC20 compatible wallet, which is where POE tokens will be delivered to.
LTBCOIN holders can expect to receive their POE tokens 30 days after the Po.et token sale on August 8th.