Updated: May 5, 2022
How is this possible?
If you are currently holding any token of the thousands that live on Ethereum, you will be receiving a FREE copy of your coins at a 1 to 1 ratio. This means holders of Ethereum, Wrapped Bitcoin, Shiba Inu, Uniswap, Ethereum Name Service, FTX, Cronos, etc will ALL be able to benefit from what we are about to talk about! If you hold 10 WBTC(Wrapped Bitcoin) you will get 10 WBTC on the new chain we will talk about shortly. It should be noted that while all tokens get an exact copy, ETH(Ethereum's token) gets converted to PLS(Pulse) on the Pulsechain network.
Pulsechain Free Copies
Whether or not you have heard the word “Pulsechain” before, you need to know that when the Mainnet goes live, which we are currently in test phase of, you will automatically have your coins duplicated and placed in your wallet.
In order to access them, you have to enter the Pulsechain network settings into your wallet from pulsechain.com; That’s it. No giving your seed phrase away or even connecting your wallet to a website.
What is Pulsechain though?
Let’s go over a very general overview of Pulsechain.
Pulsechain is a fork of Ethereum, which is much faster, much cheaper to transact on and more eco friendly than Ethereum via Proof of Stake Consensus; Meaning no Miners are required to run the network. It is poised to beat Ethereum 2.0 to market and assist in lowering fee’s on Ethereum as well!
The total supply of PLS token, Pulsechain’s native token, is deflationary and will never increase, making it more scarce over time.
Pulsechain is also dubbed “The World’s Largest Airdrop”, since every single holder of any Ethereum token will get a duplicate of their exact number of tokens on this new Network.
You might be wondering how this is possible though, so let’s dive in.
Normally when developers have forked Ethereum in the past, the new fork has to be built from the ground up in regards to projects on the chain. Pulsechain Founder Richard Heart, along with his developers, are instead copying the entire system state of Ethereum with all projects, Exchanges, tokens, NFT’s, and everything already built on the chain and duplicating it onto the Pulsechain as the starting point for the new fork.
Will I get double my money?
There is no guarantee that the coins you receive will have the same value that they have on the Ethereum Network; However, if you want the highest chance to not only double your coins but also double your money, you need to be proactive in engaging with the community associated with your token to let them know about Pulsechain.
The more knowledgeable communities are of Pulsechain, the more benefit you could see from the Airdrop. Many communities outside the Hex community have very little engagement and it is up to us to change that.
How to Claim
In order to guarantee that you get your free copies, you have to have your coins on a private wallet; This means taking your tokens off of any exchange like Binance, Coinbase, Kucoin, Netcoins, etc and moving them into a wallet like Metamask, Trust wallet, Ledger, Trezor, etc.
If you leave your tokens in the wallet associated with a centralized exchange YOU WILL NOT RECEIVE THE AIRDROP.
If you wish to use the Tokens on your computer, your best bet is to use Metamask as it is one of the easier to use wallets that can be used as an extension to interact with the blockchain through Google Chrome, though there are others.
Trust wallet, Ledger live and many others cannot be used in conjunction with Google Chrome and will make it hard to interact with the Pulsechain Network.
So in summary, hold your Ethereum based tokens(NFT’s included), in a private wallet off exchange in order to have your coins duplicated onto the new network.
As per a previous video, the launch of Pulsechain has its target set as the middle of May, but could always be sooner or later.
One Note about ETH
If you are holding ETH at the time of the fork, you are getting the worst possible conversion for the copy. Like we talked about in the beginning of this blog, ETH gets copied over as PLS to the Pulsechain network whereas everything else gets duplicated normally(WBTC gets copied as WBTC but on Pulsechain).
1 ETH valued at $3000 will get 1 PLS token for the copy, valued at around $0.001.
It may be wise to consider holding another token if you plan on maximizing the use of the airdrop from Pulsechain!
Check out my other blogs for more information on that!
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Thanks for reading, CRYPTOGRFX