🔍 Transparency & Project Status

This project is transitioning to ETCPOWv2 to ensure long-term stability, transparency, and proper system design.

Over the last year, Alex handled:

• Client-side development
• Backend development
• Maintenance, fixes, and operational problem-solving

Alex does not control the original ETCPOW (V1) smart contracts.

What happened to the original team?

Around Christmas, Seth and Tasha disappeared.

At this time, no one knows where they went or why.

Important facts:

• No contracts were drained
• No wallets were emptied
• No funds were pulled
• All known contracts and wallets remain untouched
• There is no evidence of malicious activity, and no accusations are being made.
• This may have been an accident or a personal situation.

Seth previously:

• Funded the payment wallet for claims
• Covered spins and major operational costs
• Most development and maintenance costs were paid out of pocket,

Why ETCPOWv2?

ETCPOW V1 accumulated technical limitations over time. Some issues could be fixed — others could not without breaking core systems.

For a long period, fixes were effectively temporary workarounds.

ETCPOWv2 exists to:

• Correct structural design issues properly
• Improve token mechanics and ecosystem flow
• Enable a clean DEX, liquidity, and license system
• Avoid repeating past limitations

This is a reset, not an abandonment.

Why a swap and limited pre-sale?

Because there is no access to the original ETCPOW contracts, ETCPOWv2 must launch as a new system.

To bootstrap V2:

• ETCPOW holders can swap ETCPOW → ETCPOWv2
• Swaps may occur gradually, client-side
• A limited ETCPOWv2 pre-sale (ETC → ETCPOWv2) exists only to:
• Launch the V2 DEX
• Provide First liquidity
• Pay Past Months Billing
• Cover development & monthly Current operating costs

This is not profit-driven and has limits.

Licenses & Claims (V2)

Most V1 licenses will be claimable in V2

Claiming requires a ETCPOWv2 amount

When the V2 switch happens:

• Node Claim requirement will be reduced to 50 ETCPOWv2
• Receiving amounts are roughly halved, because ETCPOWv2 is designed to be worth more than double V1 in token terms

No USD value is stated or promised.

In summary

• V1 systems are archived as Legacy
• No funds were stolen or misused
• ETCPOWv2 is required to continue the project properly
• Transparency comes before marketing

This project is moving to ETCPOWv2 to reset and rebuild the ecosystem properly, transparently, and sustainably.

Over the last year, I (Alex) handled:

• Client development
• Backend development
• Frontend development
• Maintenance, fixes, and ongoing problem solving

I do not control the original ETCPOW/Most contracts.

What happened to the original team?

Around Christmas, Seth and Tasha disappeared.

No one currently knows where they went or why.

Important:

• No contracts were drained
• No wallets were emptied
• No funds were pulled out
• As far as we know, everything remains untouched
• There is no evidence of wrongdoing, so no blame is being placed.
• This may have been an accident or a personal situation.

Seth previously:

• Funded the payment wallet for claims
• Paid for spins and major costs
• Most development and maintenance costs

Why a V2 instead of fixing V1?

Over time, many issues were discovered in V1. Some could be fixed — others could not without breaking core systems.

For a long time, fixes were effectively band-aids.

V2 allows us to:

• Correct structural issues properly
• Improve token mechanics
• Build a cleaner, more sustainable system
• Avoid repeating past limitations

This time, we do it right from the start.

Why a swap and pre-sale?

Because I do not have access to the original ETCPOW contracts, we are launching ETCPOWv2 as a fresh system.

To kickstart V2, we are offering:

• 🔁 Token Swap
• Swap ETCPOW → ETCPOWv2
• Swaps may occur gradually, client-side, not necessarily all at once
• 🚀 Limited Pre-Sale
• Buy ETCPOWv2 with ETC
• Limited — only to:
• Launch the V2 DEX
• Provide First liquidity
• Pay Past Months Billing
• Cover development & monthly Current operating costs

This is not profit-driven, but required to restart infrastructure.

Licenses V2 (Important)

• All V1 licenses will be claimable in V2
• Claiming requires a minimum ETCPOWv2 amount

When the V2 switch happens:

• Claim requirement will be reduced to 50 ETCPOWv2
• Receiving amounts are roughly halved, because:
• ETCPOWv2 is designed to be worth more than double V1 in token terms

⚠️ No USD value is stated or promised.

What changes in V2?

• Core systems redesigned and improved
• Cleaner logic, fewer edge-case failures
• Fresh NFTs & licenses minted directly in V2
• All purchases, swaps, and claims move to ETCPOWv2
• DEX, liquidity, and farming can be properly established
• A whitepaper update will follow with full technical details.

What continues to work from V1?

Several V1 features remain fully functional, as they run on automatic contracts that don't require ongoing management.

V1 Features That Remain Active:

• Staking for ETCPOW (V1) — Remains intact and fully functional since it's an automatic contract
• Old DEX — Continues to operate for now
• ETCMC Domains for now

I have access to manage the ETCMC domains, but not the billing.

If the domain expires eventually, I won't be able to do anything about it due to lack of billing access.

Planned Solution: We will find a replacement domain at some point. For Now etcmc.xyz

Client (Mine) — Node Rewards

The client that rewards users for running an ETC Classic Node will work better than ever.

Not long ago, I completed huge re-works to improve the system. Small adjustments will be made to work optimally with V2.

Automatic Adjustments:

The halving of rewards and claim amounts will be done automatically when the V2 transition occurs.

⚠️ Current Claims Situation

Important: Claims are currently happening but cannot be paid out right now.

We have not made an official announcement yet because we are uncertain whether Seth and Tasha will return. We are giving it time until the end of this month (January 2026) before making a final decision.

Planned Resolution:

• Once we switch to V2 and swaps begin, we may be able to pay out claims from swap proceeds
• If that's not enough, remaining claims will be manually maybe converted from V1 to V2 when the time comes

This is the only current issue with the Client system. Updates are being Pushed out when the NFT License System is ready to go live.

Cypherpunks Project Clarification

Cypherpunks was never part of ETCMC — it was always a separate project.

I had nothing to do with the Cypherpunks project itself. The only involvement was providing advice to run it as a separate project, which it has always been.

The future of that project is unknown to me and is unrelated to ETCPOW/ETCPOWv2.

In short

• V2 is a necessary reset, not an abandonment
• No funds were stolen or misused
• Transparency comes first
• The goal is stability, sustainability, and doing it right