NKN token swap tools & schedule

[zbruceli]

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 during phase 2 of MainNet, i.e. Q4 2019
• 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”

2. 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.

3. 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.

[mlotis]

Has the ratio for tNKN to NKN been finalized?

[zbruceli]

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.

[Allen]

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

[zbruceli]

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.

[ulimuli]

German: 🇩🇪 Tools für den Swap und unsere Zeitplanung

Turkish: 🇹🇷 Değişim Araçları ve Programlarımız