Ethereum Classic (ETC) is about to have an airdrop of Calisto (CLO) tokens
Ethereum Classic (ETC) kind of became an underdog after the hard fork from the Ethereum (ETH) blockchain but that doesn't mean it stopped giving iits users some value. The ETC token is currently trading at $41, while the Ethereum ETH token is at $1,335. Nevertheless ETC was just at $1 in early 2017 so its users still gained a lot of money from holding on.
Now ETC holders are going to receive Calisto (CLO) tokens at a 1:1 rate from a token airdrop, according to a new update. Calisto is actually a neew blockchain developed to test experimental scaling solution and protocols - something desperately needed in the blockchain world, given it is a new technology. Plus Calisto "introduces a cold staking protocol that rewards coin holders for being network participants."
With Cold staking CLO users will be able to stake their coins and earn interest, without actually validating transactions, while the protocol is still proof-of-work.
The update reads:
"It was decided to distribute the initial stake of CLO between current ETC holders. We will make a snapshot of ETC blockchain at block 5500000 (approximately 5 March, 2018. This depends on ETC block time and ETC hashrate changes). Then we implement the initial balance of each ETC holder in the Callisto network genesis block, so each ETC owner will receive CLO coins automatically in a 1:1 ratio to the amount of ETC that he had at block 5500000.”