Reassignment process is the critical feature of BitPanda tokens that distinguishes from normal NFT tokens/projects. Here is how it works: any token holder could find their BitPandas on NFT marketplaces, like Opeasea or Rarible. However, during initial sale phase, pandas shown are only temporary, once the initial sale phase ends, the reassignment process is automatically triggered. When the reassignment happens, every token holder will be reassigned a new BitPanda for each token they hold, which is chosen randomly from the panda repo. Learn more details here.
Voting mechanism will be unlocked after the initial sale phase. When voting function is open, any token holder can choose to vote. One token corresponds to one voting right. You can choose to cast part or all of your available votes, which can be found at the bottom of this page. When the number of votes has accumulated to 741 (two thirds of total number of tokens) or more, a reassignment process is automatically triggered. That means, you will be reassigned a new panda randomly.
When the current voting round is finished, the next new round will be opened immediately. Note that when a new round is open, all votings of previous round will be cleared, any token holder can now choose to vote again.
You can do that at the bottom of the page, and find voting status and details at the top of this page, including the number of votes cast, the round number, voting fee, and block number of last reassignment if any. In addition, please learn more about voting fee.
Please keep in mind that the max available number of tokens is set to 1111, while there are 1993 BitPandas generated programmatically and stored on IPFS. And when a reassignment occures, a token holder will be reassigned a random panda chosen from these 1993 pandas. This also means that a reassignment process may mint totally new BitPandas that have not been revealed before.
Note that the panda index of the repo is predetermined and made public. Anyone can check the text file. And learn what you can do with this file here.
2. Is it possible to know what kind of panda I will get before the reassignment?
The short answer is, it is not possible pratically to know. As can be learned from here, what kind of panda you will get is computed from two random numbers. Only when the reassignment process is finished, these random numbers are generated and your pandas will be known. Of course, if no one is willing to vote anymore, the reassignment process will not be triggered either, which means your pandas are fixed.
3. When does the reassignment process get executed, and how many times are there on earth?
There is at least one time of reassignment, which is executed automatically once the initial sale phase ends. You don't need to do anything for this. And in order to have next reassignment, the only way is to vote. As long as the number of votes accumulates to 741 or more, the reassignment process will happen. In fact, this is the core part of Bitfuture concept.
4. I am happy with my current pandas, and do not want to get them changed. How can I stop the reassignment process?
It's good that you like your current pandas, but unfortunately no one can control over the happening of ressignments. It is entirely dependent on the community, once there're enough votes from other token holders, reassignment will happen inevitably.
5. A reassignment has happened, but my pandas are the same as before?
If a reassignment has just happened, it is more likely due to the cache in your browser or servers of marketplaces. It may take a few minutes or even longer for the new pandas to be refreshed. If, after a few hours, you still see the same pandas, that means yes, your pandas randomly chosen for this round happen to be the same as your previous pandas, which we expect is really rare. But you can always compute your new panda indexes to see if they are the same! Learn how to compute the index number from here.
6. Do I need to pay a fee in order to vote?
There will be a voting fee for each vote starting from the second round, more specifically: voting is free for the first round, and then starts at 0.01 ETH per vote on the second round. Afterwards, the voting fee will be doubled in later rounds. Learn why there is a voting fee here.
7. Why there is a voting fee though?
A voting fee can prevent from the unlimited number of reassignments triggered by the voting mechanism. At some point, it is not possible anymore to accumulate enough votes due to the high voting fee. In this case, your BitPandas will be fixed, and won't change.
8. How does the reassignment work?
We expect you have understood the concept of reassignment before reading on. Put it simple, when a reassignment occurs, there will be two random numbers multiplier and summand generated which are used to calculate the panda index in the panda repo given a tokenId. The formula is quite simple: (tokenId * multiplier + summand) mod 1993 + 1. These two random numbers can be found at the top of this page (after initial sale phase), and you are welcome to calculate your corresponding panda index, and look for IPFS CID of your panda image file and corresponding hash value in the text file. Learn what you can do with this file here.
9. What can I do with the published hash text file?
The hash file is made public from the start to ensure the transparency of this project: no one can have control or manipulation over the artworks of BitPanda and the reassignment process. All these are executed automatically by the smart contract and the distribution of BitPandas fully follows the reassignment process.
After the initial sale phase, you can verify your BitPanda is consistent with what is documented in the hash text file: