Ban any transactions and staking from specific Cryptopias* address

Colx Community Proposal: ColossusXT Community has gone through a rough Year 2019, because of exchanges going down and dumping their Colx holdings to their investors. We want to stop it!

The Colx community has decided to take action now with the Cryptopia (i.L.) issue. As many of you might know, Cryptopia (i.L.) has consolidated all COLX into one Address: Balance 1.06 Billion Colx - funds that were present on their platform before they got hacked, back in January 2019.
We - a group of Colx investors who are taking care - are proposing to take the urgent step and block Cryptopias/ Liquidators Colx funds while the process continues to protect the community from a bad decision that might come. Cryptopia (i.L.) is holding a significant amount of approximately 9% of all Colx supply is considered as a threat to our ecosystem.

We have submitted this Proposal as Governance System Voting to the Network. By doing this Governance Voting, it is in the hands of you - the community - to decide if Colx funds that are currently held by Cryptopia liquidators will be blocked. It allows the community to participate and take decisions over the future of the entire project. With this action, Colx community aims to prevent the liquidators from negatively impacting the project through means of market pressure and to help eradicate the uncertainty with the liquidators. This precautionary measure is necessary since their holdings make up 9% of our circulating supply.

If there is consensus on this proposal, based on the dialogue with the liquidators in the coming period, a follow up proposal to either unban existing Cryptopia address or to transfer either the same or the claimed amounts in project controlled wallet can be discussed and voted timely. As long as KYC approved emails, balances and if existing, Colx wallet addresses (without sharing any other personal data) can be provided to the community for transparency, the coins can be reimbursed by the team to their claimed owners and if there are coins remaining after reimbursement, these could be transferred to the development fund. This way, as we believe the coins belong to the community, the possibility of remaining coins being sold by liquidators and negative impact on market conditions would be removed for project’s sustainability.

This proposal will be voted by the masternode owners to make sure we get consensus on the entire community. We ask our Masternode Holders to participate in this important Governance voting and to accept our Proposal and to find a consensus. To mark as an accepted modification we will need at least 51% of the voting masternodes to mark as accepted. Please vote for Yes if you agree to block Cryptopia’s /No 1 Address.

Voting time period: 14 Days.
51%+ of Yes votes will be considered as a consensus agreement.

  • in Liquidation (i.L.)