Should we be converting to TFT from our mined XLM

#1

Hi all,
Expecting my titan to come soon…but in preparation for it…just wanting to educate myself as I’m quite a novice.

As I understand it, we’ve provided threefold to preset our stellar wallets to receive our mining rewards.

Based on a threefold article they chose Stellar as it’s transactional network for various reasons.

Now…is it in our best interest to convert our mined Stellar to TFT as soon as we get it? Or leave it as Stellar? Or it doesn’t matter since they will adjust values in parallel? Any recommendations or best practices on how to approach this?

Thanks in advance

1 Like
#2

Hi @hasdy,

I think you misunderstood here. The choice was made for the Stellar network (the blockchain framework) to mint TFTs on, not to mint XLMs. So all the tokens you will get will be TFTs, there’s no conversion needed at all. But they are registered on the Stellar payment network, you can see the TFT asset here.

Bear in mind that TFT is now registered on 3 blockchains already, with bridges in between these blockchain: also on the Binance SmartChain and on TFChain, our own blockchain on Parity Substrate, TFTs exist. But, for now, newly minted tokens will be made available on the Stellar network.
Of course you can send tokens over the bridge to other blockchains. Their value remains the same, Parity Substrate will be the blockchain you need TFTs for to use TFGrid3 capacity to deploy your IT applications.

2 Likes
#3

Hi @hasdy,

We also just published a blog post on how we’re using blockchain bridges to connect external networks to our ThreeFold ecosystem. It also explains the role of Stellar and TF Chain for TFT and what has changed with Grid 3.0.

You can check it out here :slight_smile:

1 Like