In this post I will provide some tips on how to claim the ETC hard forked Callisto (CLO) coins that you are eligible to receive if you hold Ethereum Classic (ETC) in the right wallets prior to block 5,500,000
What is Callisto and should you care?
Callisto introduces a Cold staking protocol that rewards coin holders for being network participants. “Cold staking is a smart-contract based process that allows CLO holders to earn interest in a total CLO emission when they hold CLO coins at their balances for long enough period of staking time (1 month by default). Cold stakers are not required to run a node to participate in cold staking process. Cold stakers are not validating transactions and the whole system can remain fully PoW (Proof of Work) which is important since ETC adheres to POW consensus.” (quote from Callisto Networks)
For more details and clarity about this project and to get your hands on its whitepaper, refer to this post on Github.
When will the airdrop fork happen?
You can check https://gastracker.io/ for the current block height. According to calculations, this airdrop will occur between the 2nd and the 5th of March 2018.
Ethereum Classic (ETC) holders will receive a 1:1 ratio of CLO coins.
Right now as I write this article, the Ethereum Classic Blockchain last block is 5476170.
In addition, the present price of $36.94 is relatively inexpensive due to the moderately bearish market. I am not giving you financial advice, definitely not suggesting that you go and buy ETC now. This is a guide mainly for those who are already hodlers of ETC and wish to benefit from this airdrop.
What exchanges will support the hard fork?
Currently only Yobit and Coinomi have indicated support. No other exchanges have announced an official stance on the Ethereum Classic / Callisto coinswap fork, so don’t take the chance, make sure you keep your ETC in Coinomi or in a wallet where you own the private key so you can use that private key later and claim your free coins from this airdrop.
Which wallets will support the hard fork?
These three wallets are guaranteed to issue the Callisto coins:
MyEtherWallet(MEW) – it is not yet sure if the MEW developers will support Callisto. Most recently there are rumours that they might not, so I would use ClassicEtherWallet and you can actually use it with your MEW address too so no worries.
Regarding ClassicEtherWallet it should be fairly simple and straightforward to receive your CLO tokens automatically (no need to do anything) and immediately after the hard fork coin swap has occurred.
It is claimed that every ETC account address that has ETC in its balance will receive the equivalent amount of CLO automatically when Callisto launches. You will just unlock your wallet and see your CLO are already here… or at least that’s how it should happen.
As usual, my top choice is Coinomi which supports tons of alt coins and although it’s only for Android at the moment, it is really a great wallet to have. It will make your life easier for future forks and airdrops too, so definitely worth getting that app. Time to move away from that iPhone I guess. Crypto and Apple isn’t exactly a great match. #justsayin’
Good luck with this airdrop everyone! Stay profitable.
And lastly, here is my top choice for safe storage of my top cryptocurrencies, check out the Ledger Nano S, it can store a large selection of coins, it is a definite MUST HAVE.