Satoshi Pie Closure

in #blockchain29 days ago (edited)

In August 2017, Satoshi Pie launched a liquidation procedure (https://golos.io/@satoshifund/evolyuciya-satoshi-pie) to be carried out in several stages. As reported in January 2019 (https://steemit.com/satoshifund/@satoshifund/satoshi-pie-liquidation), Satoshi Pie was liquidated on April 1, 2019. All assets of Satoshi Pie were converted into bitcoins and a liquidation balance was prepared (see a table below). From April 1, 2019, the Moscow Central Branch of the Moscow Regional Bar Association has become the custodian of the SPIES tokens (address: 123022, Russian Federation, Moscow, Krasnaya Presnya Street 29, office 14 (email - [email protected])) ( “Custodian”).

March 31, 2021 is the deadline for redeeming SPIES tokens

After March 31, 2021 all outstanding SPIES tokens will be considered unclaimed and will be send to charitable organisations.

Procedure for redemption of SPIES tokens until March 31, 2021

Until March 31, 2021, each SPIES tokenholder has an opportunity to redeem Satoshi Pie tokens by her/himself using her/his own seed phrase (or brainkey) through Bitshares client https://wallet.bitshares.org/#/ or the original Bitshares wallet (you can find the latest version of the Bitshares wallet here: https://github.com/bitshares/bitshares-ui/releases/tag/3.3.191120). We also remind you that your Satoshi Pie seed phrase was saved and kept by you only (Satoshi Fund had never any access to it and never stored it).

In both cases, you need to import the wallet using your Satoshi Pie seed phrase. Find "Restore / Import" in the menu. In the drop-down menu choose "Please select your backup file in the dialog below", then select "Restore using a local wallet brain key". Next, enter your Satoshi Pie seed phrase (seed phrase = brain key) and import the wallet.

To redeem your SPIES you should then transfer your SPIES tokens to the satoshi-pie-redeem account (https://wallet.bitshares.org/#/account/satoshi-pie-redeem) specifying your own bitcoin address in MEMO (this address will be used to send you bitcoins). On the redemption date (March 31, 2021) the Custodian will destroy the received SPIES tokens, deduct a commission in a fixed amount of 10% and transfer the bitcoins to the address you specified.

Please notify the Custodian after making the described transaction by sending an e-mail to [email protected]

In case you lost your Satoshi Pie seed phrase, we remind you that each user of Satoshi Pie has a chance to redeem her/his SPIES tokens by providing a proof of ownership of the bitcoin address from which bitcoins were sent by her/him to Satoshi Pie.

To do this, you should write to the Custodian, to [email protected], specify your Satoshi Pie account and amount of SPIES tokes you have and provide the following data:

  • Your email (provided during registration, if available)
  • Your phone number (provided during registration, if available)
  • Copies of requests, questions to Satoshi Fund Support Team and replies to the email linked to your Satoshi Pie account (if available)
  • Proof of ownership of the bitcoin address from which bitcoins were sent to Satoshi Pie (this is mandatory and important)

In case you lost your Satoshi Pie seed phrase the redemption is possible only when SPIES tokens associated with the Satoshi Pie account mentioned by you are not redeemed by the time of appeal. The Custodian analyses the provided data for their sufficiency, carries out the KYC procedure. The Custodian redeems SPIES tokens in this case at its own discretion, if it considers the provided proof of ownership of the bitcoin address sufficient and after unproblematic KYC procedure.

Tax issues

Each SPIES tokenholder understands and agrees that after receiving bitcoins, it is her/his own responsibility to determine which taxes (if any) she/he has to pay, including sales tax, VAT, income tax, etc, and she/he is responsible for filing tax returns and transferring the correct amounts of taxes to the proper tax authorities (if necessary).

Satoshi Pie Balance Table

Satoshi Pie Public Balance for print.png

Please, pay attention that after March 31, 2021, no claims or complaints will be considered due to the expiration of the statute of limitations.

This announcement is made by Moscow Central Branch of the Moscow Regional Bar Association

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