Ethereum Classic development team recently announced the Callisto Network Project which will result in a 1:1 CLO airdrop for ETC holders.
While some are mistakenly terming it an ETC hard fork, Callisto is actually going to be a new blockchain (with CLO as its native currency), developed in order to test experimental protocols, possible scaling solutions and set up a governance system which incentivizes both miners and coin holders.
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.
My opinion is that ETC can get hyped sooner or later and we can expect increase in price. I can't tell you how much because if BTC goes up, we can expect big gain in $ value but not so big in BTC value. If BTC stays at this level then we can expect big gain in BTC and also in $ value. So, to sum up I expect that ETC will go up because of this airdrop because it is a free coin that will make you some money and everybody likes free coins.
Just remember that NXT went from 700 satoshie up to 13-14k satoshie so I do not expect to see ETC 10x but 2-3x is possible, at least 50% so I am holding ETC already from 3-4 months and I will keep even more and this is chance to get free tokens for that. I will not sell ETC after or before airdrop because I am on ETC for long-term.
I am long-term on ETC not because I like it because of ETH. Why?
ETH is going to switch from Proof of Work to Proof of Stake and it is big for ETH but also for ETC because in my opinion the majority of ETH miners will switch to ETC so we can see increase big support from miners that will help ETC for sure.
This can help ETH too because someone will want to stake ETH and get award so maybe we can see increase in demand but ETH is already huge project and this won't happen overnight but I want to let you know that ETH is going through dev update that will probably make ETH even better because it is their goal. They would not switch to the PoS if it is not better for them, right?
To sum up, hold your ETC if you have. If you do not have you can buy and hold until March 5th. We do not have info which exchange will support it but once we get the info we can expect to see increase in demand for ETC so if you want to join the train, this is the right time.
Good luck to all of us ❤️
Cheers! 😉
