BuildTeam had planned to migrate token distribution and staking to steem-engine.com but since the political and network situation on Steem is no longer stable nor favourable, we have taken the decision to expedite the transition to hive-engine.com instead.
Bitshares was a good starting point for the BUILDTEAM token however, the Bitshares interface is complicated and difficult for most users, by migrating to hive-engine.com the user experience in receiving distributed tokens and staking them for a share of BuildTeam nett revenue should be greatly enhanced.
Bitshares <-> Hive-Engine Token Conversions
The first step to achieving the aforementioned goal is to create a token conversion gateway bridge between Bitshares and Hive-engine.
In exactly two weeks on Saturday the 6th of June, we will permanently switch-off the existing gateway for Bitshares <-> Steem Engine.
At the same time, a 1:1 airdrop will be performed to all BUILDTEAM token holders on Steem-Engine, which will airdrop to them the equivalent amount of BUILDTEAM tokens on Hive-Engine.
From that point onward, Steem-Engine BUILDTEAM tokens will be considered worthless and should no longer be used or traded.
The conversion process is different to our current Bitshares <-> Steem-engine bridge so please take note of the necessary steps.
1. Gateway Instructions
1.1 Bitshares to Hive-Engine
On Bitshares, send your BUILDTEAM tokens to the buildteam account with the memo BUILDTEAM hive-account-name.
Note: This will incur a 1% exchange deposit fee.
You will now receive the equivalent amount on Hive-Engine, less the exchange deposit fee.
1.2 Hive-Engine to Bitshares
On Hive Engine, send your BUILDTEAM tokens to the buildteam account with the memo BUILDTEAMBTS bitshares-account-name.
Note: This will incur a 1% exchange withdrawal fee + Bitshares network transaction fee.
You will now receive the equivalent amount on Bitshares, less the exchange deposit fee and Bitshares network fees.
On the Bitshares side the transaction will look like this:
1.3 Memo Generator and Deposit Help
If you forget the exact memos to use, then this form is available:
https://converter-api.hive-engine.com/convert/
Simply select the bridge pairs and hit the "Get Deposit Info" button and use the generated memo in your transaction.
If you make a mistake with the memo, need refunds or assistance with stuck deposits, etc, please raise a support ticket with Privex using the following link.
https://support.privex.io/open.php
Create the ticket by selecting "SteemEngine Help / Deposit / Withdrawal Issues" as the ticket Help Topic, which will route the ticket to the correct support department for Hive-Engine and Steem-Engine.
Staking will Migrate to Hive-Engine at a Later Date
The above bridging gateway is the first step in preparation for full staking to occur on Hive-Engine. For now staking rewards will be based on Bitshares balances, we will announce at a later date when staking functions have been replicated on Hive-Engine so please follow the @buildteam blog for further updates.
If we are to increase our buildteam stake, where do you suggest we stake more? Steem engine?
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