Allvor announces the end date of the Initial Distribution Program for XRP Holders

[Allvor]

Allvor announces the end date of the Initial Distribution Program for XRP Holders

Allvor informs the community about the end date of its ALV token Initial Distribution Program for XRP token holders. It will be on December 31 at 23:59 (GMT 00).

The program was created with the intention of engaging and establishing links with the XRP community.

The distribution, active since the beginning of the project, has as single rule that the user had an active Ripple account on March 27, 2018, which is the program starting date. To set the amount of ALV received, the Program considers the amount of XRP the user had on March 28 at 01:00 (GMT) (Ledger 37539810).

The user receives the ALV tokens according to the value they have in XRP, plus 30%, plus a standard amount of 5,000 ALV. For example, a user who had 1,000 XRP on March 28 may receive 1,000 ALV, plus 30% (300 ALV), plus a bonus of 5,000 ALV. In total, he will receive 6,300 ALV in his account.

To request a payment, the user must use the form available on the Allvor portal. Simply enter a trust line for Allvor into your account, enter the account in the appropriate field and request the payment, which is done immediately.

The distribution is limited to 1,000,000 ALV token per person. All details can be checked in the program’s regulation.

If you are not entitled to receive ALV from the Program, or if you have already received and wish to purchase a larger amount, this is currently possible in the XRP Ledger’s decentralized exchange (XRP Ledger’s DEX) by using one of the suggested wallets, such as GateHub, ToastWallet, or Harbor Wallet.

In 2019: user base growth and Allvor Pay in practice

The end of the Distribution Program for those who owned XRP on March 27, 2018 and the launch of Allvor Pay with the WooCommerce platform Plugin, which will take place in the coming weeks, mark a new phase for Allvor.

In 2019, the Allvor Project will continue to develop strategies to foster the community growth and expand its user base, including promotional actions for exchange listing, incentive programs to use Allvor Pay, targeted airdrops and other actions.

No Freeze and Blackhole of the issuing account

After the end of the distribution program, “No Freeze” and “Blackhole” of the issuing account will be announced in the following weeks.

With the “No Freeze” tag checked, The Allvor Project will not be able to freeze the ALV balances from any account (something that is currently possible). Blackhole means destroying the secret key from the Allvor issuing account. In practice, this means that it will become impossible to issue more ALV beyond the current issuance (100 billion), ie this ensures that the initial issuance remains the maximum limit of the existing ALV.

Details about No Freeze and Blackhole will be announced when they are made.

 

[JustinS]

Ok I took out all my XRP off the ledger nano s and created a trustline to that old wallet.  I now have my ALV on this wallet.  How do I move it from here to another wallet address?  I can see the ALV in bithomp has been added but cause its added to this ripple wallet that has 20 XRP in it I need it moved cause I had to enter the words into the computer to create that trust line and those words as far as I am concerned are no longer secure.

[at3n]

22 minutes ago, JustinS said:

Ok I took out all my XRP off the ledger nano s and created a trustline to that old wallet.  I now have my ALV on this wallet.  How do I move it from here to another wallet address?  I can see the ALV in bithomp has been added but cause its added to this ripple wallet that has 20 XRP in it I need it moved cause I had to enter the words into the computer to create that trust line and those words as far as I am concerned are no longer secure.

Whatever method you used to create the trustline on your old Nano wallet, should be able to make a payment out of it, no? Did you use ripplerm?

[JustinS]

I used the following.  

. Now my ledger nano s is set up with the new wallet.  ALV is sitting on the other wallet.  ALV does not appear on the ledger nano s lists or on binance so how do I redeem these ALV coins or transfer them to my other ledger wallet.  I don't want to be creating trustlines again either on the new wallet. 

[Guest]

Since you're sceptical about the security of the address that your tokens are now at, you probably want to create a cold address. This usually means using wallet-software on a computer that's not connected to the internet (e.g. booted off a CD, with the wallet-software introduced via a USB stick), and then writing the new secret on a sheet of paper (taking great care to copy it accurately!).

If using a live CD to generate a cold address, I suggest choosing a live CD that includes a full web browser so that you can run in-browser address-generating software.

Edited December 16, 2018 by Guest

[JustinS]

Its the sending of the tokens from one address to another that I am not sure one how to do.

[at3n]

Use the same software you used to set the trustline. Seeing as you've given up on the security of that wallet, you could choose to do it online if you wanted (your choice). In that case, use the Payment tab. Otherwise use the Tools tab to do it offline, with Payment transaction type. In the "Amount" section, tick "IOU", and set "currency" to ALV, and "issuer" to the same address that you set the trustline to (the one on the Allvor website).

7 minutes ago, JustinS said:

I don't want to be creating trustlines again either on the new wallet.

You need a trustline set on any wallet that holds the ALV, no way to avoid this. The payment transaction will fail if there's no trustline set on the receiving wallet. There's no way to do this with the native Nano S software, so you need to do something like you've already done with ripplerm. If you really want the ALV on your Nano, the best option to set the trustline is to set up a fully offline environment and follow the instructions you linked to, making sure that you destroy all traces of the recovery phrase and secret key afterwards.

23 minutes ago, JustinS said:

how do I redeem these ALV coins

If you want to trade them for Fiat or another crypto, you need to use the decentralised exchange built into XRPL. You can use ripplerm (the software you're already using), or if you have a Gatehub wallet you can send the ALV there and trade them. Or use theworldexchange.net, or any wallet that allows trading.

[HazzaHat]

I only found out about Allvor today. I did nothing before 31st December 2018 so is it too late to get my free ALV tokens?

[Coolio]

On 12/5/2018 at 2:32 PM, Allvor said:

After the end of the distribution program, “No Freeze” and “Blackhole” of the issuing account will be announced in the following weeks.

There is still a counterparty risk on the issuing account (raEQc5krJ2rUXyi6fgmUAf63oAXmF7p6jp).

When do you set the regularKey to a blackhole address and disable masterKey? Than ALV becomes "counterparty risk free".

Edited March 26, 2019 by Coolio