NKN token swap tools & schedule

Summary

  • NEP-5 to ERC-20 swap tool will be open May’25 - June’15, 2019. After which, it will be closed forever. We strongly encourage you to swap as early as possible, since this is the last window.
  • Testnet (tNKN) to ERC-20 swap tool will be open Monday June 17th, 2019.
  • ERC-20 to mainnet swap tool (two-way) will be open June’30, 2019, and remain open for 3 months until September 30, 2019. We may extend the swap period as needed
  • Exchanges will support automatic ERC-20 to mainnet swap, subject to their own schedule. The exchanges will provide their own announcements when they are ready.

FAQ

  1. How can I find out which token I have?
  • Token format depends upon the type of wallet or exchange and wallet address format.
  • All exchanges who trade NKN use ERC-20 tokens today
  • You have NEP-5 token if you hold tokens in NEO/NEP-5 wallet, and the wallet address starts with letter “A” like this “AeazBYxUcHxxcsoqDB546pqi4HunkxCvkC”
  • You have ERC-20 token if you hold your tokens in an ETH wallet or exchanges, and the wallet address starts with “0x” like this “0x68cb76dea7d391c5e5bb51ebbcd30001b0d9fe12”
  • You have tNKN (also known as testnet) tokens if you mine and hold your token in a NKN testnet wallet, and the wallet address starts with letter “N” like this “NQBPH4TxeD7WFkFienrrWrpVaDdV7bD5KY”
  1. Which wallet should I use for mainnet NKN token?
  • We will offer an official web, desktop, and mobile wallet for NKN mainnet. Stay tuned for more info on nknwallet.io
  • Partner wallets will announce their mainnet NKN token support once integration work is completed with NKN.
  1. Why do I need to swap from ERC-20 to mainnet or vice versa?
  • Swap is not required, but may be needed depending on the exchange or service you would like to use.
  • If you want to pay for networking services (e.g. nCDN, Pub/Sub) on NKN mainnet, then you need NKN mainnet tokens.
  • You received mainnet NKN token either through mining or payment by running micro services such as nCDN, and you would like to trade ERC-20 tokens for other cryptocurrencies or fiat.
  • Or in the future, your preferred exchange has migrated from ERC-20 to NKN mainnet tokens. In this case, the exchange will handle the swap automatically, thus no action is required from you.
1 Like

Has the ratio for tNKN to NKN been finalized?

Not yet decided, we will finalize closer to the tNKN swap open time. So far we have promised better than 5:1 conversion ratio between tNKN and NKN. We might also convert into ETH as well. All depends on the token price at that time as well.

one question, why we offer swap tNKN to ERC-20 instead of to mainnet? Thanks.

Many miners might need fiat to pay bills, ERC20 tokens are easily tradable to get fiat. It typically takes exchanges many months to integrate with new mainnet.

3 Likes

:de: German: 🇩🇪 Tools für den Swap und unsere Zeitplanung

:tr: Turkish: 🇹🇷 Değişim Araçları ve Programlarımız

1 Like