UPDATE: The Pulsechain Sacrifice Phase has ended, so don’t send anything to the sacrifice address anymore!
As some of you may know, the transaction fees to send/stake/unstake Hex (and other ERC-20s) were incredibly expensive a few months ago. The entire market was on the rise and the transaction costs on the Ethereum network were sometimes as much as $500 to end a Hex stake. It was also normal to have to pay $50 to send it to a different address.
Around that time, Ethereum had an update which will only increase transaction costs over the long term. This will have a huge impact on Hex, as it takes a lot of computational power to calculate the interest. The Hex smart contract has to calculate how much interest you received per day that you were staked, add this up and then add it to the amount of Hex you started with. For this reason, the transaction costs are highest when unstaking compared to sending/staking.
Hex founder Richard Heart then thought to himself:
“Let me make a better version of Ethereum”.
This will be PulseChain (PLS).
The biggest airdrop ever.
PulseChain is a fork of Ethereum. PulseChain will become the biggest airdrop of all time. All ERC-20s that you have in your wallet on the Ethereum network will be copied over to the PulseChain network. If you have 1000 LINK in your Metamask wallet, you will receive 1000 LINK on the PulseChain network. What is important to know is that this does not have the same USD value. Chainlink on the Pulse network will have its own price that will be determined by the market.
If you have liquid and staked HEX, it will also be copied over to the PulseChain network.
All your HEX and all your T-shares will be doubled.
The further improvements that Pulse will have over Ethereum are:
- Cheaper transaction fee (probably less than $0.01 in the beginning)
- 4x more throughput.
- Replace energy-wasting Proof of Work miners with efficient delegated Proof of Stake validators.
- Deflation because 25% of the transaction costs are burned and no new Pulse tokens will be mined. The total supply of Pulse tokens will therefore never be higher than day 1. From that moment on it will only decrease.
- 10,000x more tokens than Ethereum.
People rather have 1 whole than a part of a whole. When you put $100 into Ethereum, you get 0.053 ETH. When you put $100 in Hex, you get 604 Hex. People rather have 604 than 0.053 of something, even when the value is $100 in both cases, so technically it shouldn’t matter. If Pulse were to have the same market cap as Ethereum, this means that the price per Pulse would not be $1884, but only $0.18. Even though the market cap is the same, Pulse will still be “cheap”.
How do I buy Pulse?
At the moment, Pulse does not yet exist. You can’t buy on the open market yet. The so-called sacrifice phase has started. This means that at this point you can sacrifice all kinds of different tokens to receive sacrifice points. The amount of sacrifice points you receive will be a 1:1 ratio to the amount of Pulse tokens you will get when the PulseChain network goes online.
We are currently on day 3 of the sacrifice phase. $186,609,286 in ETH and a number of ERC-20s have already been sacrificed. Follow the amount sacrificed on Zerion.
How does the sacrifice phase work?
The chart below shows how much $10,000 Sacrifice Points will cost over the 19 days it applies. After these 19 days you can no longer sacrifice and you will have to wait until you can buy PLS on the open market.
The first 5 days have the best rate. For $1 you get 10,000 SPs. So if you offer $100 on days 1 to 5, you will receive at least (10,000/1*100) 1,000,000 SPs.
When you offer $100 on the last day, you will receive at least (10,000/1.98*100) 505,050 SPs for this. So almost half less.
I say at least because there is a bonus for the amount of USD you sacrifice. The more USD you sacrifice compared to others, the higher your bonus. The address that offers the most (in USD value) gets the biggest bonus of 2.5x their number of SPs. The address that offers the least gets 1.0x. So no bonus. Everyone in between gets a bonus between 1.0x and 2.5x. You can track your ranking on PulseLead.
What are good strategies?
The goal of sacrificing is to get as high in the rankings as possible.
This depends on the amount of USD your crypto is worth at the time you offer it.
More USD = more PLS.
There are many different cryptos that you can sacrifice. See the full list on pulse.info (when you click on Ethereum and scroll down, you’ll see a list of ERC-20s you can sacrifice).
Since it depends on the amount of USD, you want to sacrifice when your crypto of choice is as expensive as possible. If, for example, you expect Chainlink to rise in the next few days, you’d better wait with sacrificing. The price of Hex has risen sharply over the last couple of days. In this case it was better to sacrifice Hex on day 2 than on day 1.
If you’re going to be sacrificing a stablecoin like USDC/USDT/DAI, you’ll want to do so on days 1-5, as they don’t really fluctuate in value and the Sacrifice Points become more expensive after day 5.
It can even be beneficial to sacrifice after day 5 when you expect the crypto you want to sacrifice to increase in price. On day 6, the Rate per 10,000 sacrifice points increases by 5%. If you are going to sacrifice Hex and expect Hex to increase by more than 5%, it is therefore advantageous to sacrifice on day 6 instead of day 5.
It is also important that you sacrifice from one address. The bonus is calculated per address. You can sacrifice as many times as you want, but if you do so from multiple addresses, your bonus will be less.
How do I sacrifice?
Since ETH and ERC-20s have mainly been sacrificed, I focus this step-by-step plan on those tokens.
Step 1) Have control over your own private keys
Make sure you have ETH/ERC-20 (HEX, LINK, AAVE, DAI, USDT, USDC, etc.) in a wallet of which you own the private keys. You can not sacrifice from an exchange. I recommend the Metamask wallet. Make sure you have the real Metamask. This is https://metamask.io/. Double and triple check this.
Step 2) Put the crypto of your choice in your wallet
Make sure you have the crypto you want to sacrifice in your own wallet. If you are not going to sacrifice ETH, it is still important to have some ETH in your wallet to pay the gas fee.
Step 3) Go to Pulse.info or Pulsechain.com
https://pulsechain.com/ is the official website of Pulsechain. There you can click on Open DApp.
You will then arrive at https://pulse.info/#/.
Connect your Metamask wallet.
Select the network. In this case, this is Ethereum.
Scroll down and see if the crypto you are going to sacrifice is on the list.
If it is, you can sacrifice. The sacrifice address is under “You can sacrifice to the address below”.
The sacrifice address is the same for everyone who offers ETH/ERC-20:
Double and triple check this.
Step 4) Sacrifice via your wallet
1. Open Metamask.
2. Click send.
3. Paste the sacrifice address.
4. Choose the crypto you are going to sacrifice at Asset
5. Choose an amount (make sure you have enough ETH for the gas fee).
6. Set Transaction Fee to Fast
7. Click Next, check everything and then click Confirm.
You will receive a notification within seconds/minutes that your transaction has been confirmed or that it has failed. If it is confirmed, you can check your ranking on PulseLead.
If it failed, you must try again. What often helps is to have no digits after the decimal point for all tokens except ETH. Change 6000.325236 HEX to 6000 HEX.
The reason could also be that you do not have enough ETH in your wallet to pay the gas fee.
You are now ready for the PulseChain.
Now you have to wait for the network to come online, after which you will receive your PLS tokens at the address from which you sacrificed. This does not have to be immediately after the 19 days. This may take days/weeks/months.