FairCoin (AKA FairCoin1) will be upgrading their blockchain to a new Proof-of-Cooperation consensus mechanism and blockchain. FairCoin1 will retain the balance of the addresses in the new FairCoin blockchain.
On the 18th of July 2017 at 1:00 am PDT (08:00 am UTC) the new FairCoin blockchain will be launched and prepared for use, without any coin supply. The FairCoin1 chain will continue as normal, and will remain valid until 8:00 am PDT (3:00 pm UTC). The first block to be created in the FairCoin1 chain immediately after 8:00 am PDT (3:00 pm UTC) will mark the end of that chain. This will be the last valid block from the old chain.
The last FairCoin1 block also defines the final coin supply. A snapshot of all balances will be taken at the final block height and the corresponding transactions will be created in the new FairCoin blockchain, thereby re-distributing all of the coins in a 1:1 manner.
Bittrex will enable the new FAIR market when we and the FairCoin team agree the migration is satisfactory.
Note: Bittrex will be closing our FAIR wallet and stop trading the token 8 hours ahead of the new FairCoin blockchain launch to take accurate snapshots of balances. If any FAIR deposits you had sent to Bittrex are not settled (e.g. marked as pending) by 6:00 pm PDT on 7/17/2017 (1:00 am UTC on 7/18/2017), you may not be credited with FAIR.
We would like to thank the FairCoin team for working closely with us.
FairCoin Proof-of-Cooperation:
https://github.com/faircoin/faircoin/blob/master/doc/on-proof-of-cooperation.md