No, we do not mean one of Jupiter’s moons – you can’t get that one. Not yet at least… We are talking about the Callisto Network and its impact on the Ethereum Classic.
So what is it?
Callisto will be a new, separate blockchain integrated within the ETC’s mainchain and with its own token (CLO). The reasons behind the project, are to boost ETC’s growth and adoption and introduce the “cold staking” protocol. Contrary to some opinions – Callisto is NOT a hard fork, but rather a parallel or sidechain intended to introduce a number of benefits.
Is simply a way to incentivise token holders. It’s a smart contract-based process, which allows holders to earn interest by holding their tokens for a certain period of time. There is no need to run a node or solve problems. Anyone holding CLO will automatically be a cold staker.
The process is designed to incentivise holders to keep their CLO tokens, thus increasing its value.
So how to get some?
Once Callisto’s Genesis block is mined, each and every ETC holder will get CLO allocated at a rate of 1:1. According to the latest update:
A snapshot will be taken of the ETC blockchain at block 5500000 (approximately 5 March, 2018. This depends on ETC block time and ETC hashrate changes).
The only thing you need to do is – wait. Once Callisto is launched, the CLO will be airdropped to all holders. Please note, that to ensure that you receive CLO, you need to hold your ETC in a supported wallet. Myetherwallet is one of the recommended ones.
Everything that is supporting ETC or ETH will automatically support CLO since address derivation and transaction signing algorithms are exactly the same.
We are always happy to see a well prepared project aiming at increasing the crypto-adoption. Callisto certainly seems to be such project.
Of course we’re looking forward to receiving some free CLO too!