Final push for NKN token swap

Dear NKN token owners, it is approaching the final days of NKN token swap from NEP-5 to ERC-20 ( Deadline: March 28th, 2019, 23:59 UTC ). And it is very important to read on for your own interest.

Why?

Even though the bulk of circulating NKN tokens have been successfully swapped (over 223 Million out of 350 Million), there are still up to 127 Million NEP-5 tokens yet to be swapped. Since there are less than 20 days until March 28th, 2019, time is running out.

What are the reason for pushing 100% token swap?

  1. Reduce user confusion : There are already NEP-5 based tokens (NKNO), ERC-20 based tokens (NKN), and testnet tokens (tNKN). And with mainnet launch, we will have mainnet NKN tokens soon as well. Too many different token standards and wallets confuse users.
  2. Reduce exchange complexity : several existing exchanges and potential large exchanges have expressed concern in maintaining multiple deposit and withdraw addresses, and tracking overall token circulation. The complexity also leads to more customer support calls as well.
  3. Improve token liquidity: Moving to ERC-20 based tokens (NKN) offers an opportunity to take advantage of a larger number of exchanges as well as the ERC-20 ecosystem.

What?

Deadline: March 28th, 2019 (23:59 UTC)

Our goal is to have only NKN(ERC-20) token tradable after the deadline expires.

Therefore we would like to call every NKN (NEP-5) token holders to swap their tokens to ERC-20 now, and certainly before deadline.

How?

What NKN team will do? We will lock the NEP-5 smart contract so that no transfer will be possible after deadline expires.

What you need to do? please check the below timetable (all times are UTC) to find out your action needed.

The original announcement for token swap is here:

The guide for using NKN’s official token swap web tool is here:

For questions and support, please email:

[email protected]

FAQ

What should I do if I’m on gate.io?

You do not need to do anything. We will work with gate.io to transition to pure ERC-20 trading: e.g. remove deposit wallet in NEP-5.

What should I do if I’m on Bilaxy, LaToken, BCEX, Switcheo (NKNO), or Bitrue?

Please withdraw your NEP-5 NKN tokens to your personal wallet and use our official token swap web tool to swap before deadline.

What will happen to the tokens that are not swapped after deadline?

They will be locked and kept out of token circulation.

FAQ continued:

Maintenance break 3/19/2019 - 3/20/2019 – Completed
Update: Maintenance break is complete and swap tool is back online.

My order status said “Waiting for NEP-5” but I have actually already transferred NEP-5 NKN tokens from my wallet, what is going on?
Most likely it is because your ACTUAL transferred amount is not EXACTLT the same as what you entered on the order form, even by a small digit like 0.001. This will lock the order and prevent any further swap for your account. If that happens, please send an email to [email protected] with your detailed information (order_id, NEP-5 address, amount, ERC-20 address). Our technical team will help you within 48 hours.

March 20, 2019 update

Over 300M (out of 350M circulating supply) $ NKN tokens have been successfully swapped to ERC-20. The deadline is March 28th, 2019, 23:59 UTC. If you still hold NEP-5 NKN tokens, it is time to act!
22%20PM

@lukas, @zbruceli,

I’ve been a long-time supporter of NKN.
On the 10th of January 2019 I bought 10.000 NKN through Switcheo.
Back then this was worth $312 and today $214.
I now discover that my investment was apparently stolen from me because the NKN team decided to migrate from NEO to Ethereum and deemed it my responsibility to somehow be aware of this decision and to swap my tokens before a March deadline.
So far for the trustless aspect of blockchain I guess…
Please add reason number 4 to the “Why” section above: to grab some easy money from our early supporters.
Or kindly compensate me for my lost tokens.

First of all, we are not associated with switcheo and any user activity on switcheo is user’s own responsibility.

On the other hand, if you need assistance regarding token swap please send an email to [email protected].