NKN token swap: NEP-5 to ERC-20

swap
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Summary

  • One NEP-5 NKN token swap to One ERC-20 NKN token (1:1 ratio)
  • Exchanges such as gate.io support automatic swap for its customers
  • Use NKN’s official web-based token swap tool https://swap.nkn.org , if you hold the tokens in private wallets.
  • Token swap is voluntary.
  • This token swap has nothing to do with NKN test tokens (tNKN) which are mined on NKN’s public testnet.
  • There is no change to total number of token issued or token economics.

Timeline

1

NKN token swap timeline

Why

Based on feedback from community members, institutional investors and leading digital asset exchanges, NKN’s Project team propose to swap the current NEP-5 based NKN tokens to ERC-20 based tokens. This will enable improved liquidity as well as leveraging the larger ecosystem built by Ethereum.

What

  • Swap one NEP-5 based NKN tokens (Asset address: c36aee199dbba6c3f439983657558cfb67629599) to one ERC-20 based tokens (contract address: 0x5Cf04716BA20127F1E2297AdDCf4B5035000c9eb). The swap ratio is 1:1.
  • This token swap is voluntary. You can keep you NEP-5 based NKN token and do the swap to final NKN token upon mainnet launch.
  • This move does not impact the content nor the schedule of NKN mainnet launch, currently planned for June 2019.
  • This token swap has nothing to do with NKN test tokens (tNKN) which are mined on NKN’s public testnet.
  • There is no change to total number of NKN token issued or token economics.

How

  1. If you are a customer of exchanges such as gate.io and store your NKN tokens there, exchange will carry out the swap automatically. Please follow exchange’s official notice and instructions.
  2. If you store your NKN tokens in a personal NEO based wallet (such as O3 Wallet, NEON Wallet), please use NKN’s token swap web tool (https://swap.nkn.org ). Detailed instructions are on the swap website under Help-> Tutorial and also published on NKN’s Medium: Guide: NKN’s official token swap web tool
  3. If you store your NKN tokens on another digital asset exchange
  • You can wait until the exchange and NKN agree upon a time to swap within the trading platform.
  • Or you can withdraw NKN tokens from that exchange and deposit into a NEO based wallet (e.g. O3 or NEON). Then follow instructions in step 2.

FAQ

  1. How long will this token swap take? Are there any cut-off date?
  • For Exchange (e.g. gate.io) customers, please follow exchange official notice and instructions.
  • NKN’s official web-based swap tool will be open during first quarter of 2019, unless otherwise announced. For better liquidity, we recommend you swap early.

2. How safe is the token swap?

  • Safety of digital asset for NKN token holders is of ultimate importance to NKN project team. Therefore we carry out all necessary precautions and planning.
  • Please only use the official NKN token swap web tool https://swap.nkn.org , or via exchanges (such as gate.io). Do not fall for scams that claim to be NKN team members or use spoofed website.
  • We have a transaction record mechanism in our token swap web tool. If for any reason the swap transaction is not confirmed for a long time (for example, 4 hours or more), please record your order ID so our customer support staff [email protected] can help you track the issue.

3. What will happen to the NEP-5 smart contract?

5. Have you done security audit of the NKN ERC-20 smart contracts?

  • Yes, we have contracted with reputable auditing service (CertiK) to carry out comprehensive security audit of our ERC-20 smart contract. We have received their report on December 27th, 2018.
  • We have successfully passed the security audit with following summary: “CertiK believes this smart contract passes security qualification to be listed on digital asset exchange.”

About NKN

NKN is the new kind of P2P network connectivity protocol & ecosystem powered by a novel public blockchain. We use economic incentives to motivate Internet users to share network connection and utilize unused bandwidth. NKN’s open, efficient, and robust networking infrastructure enables application developers to build the decentralized Internet so everyone can enjoy secure, low cost, and universally accessible connectivity.

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