April 19, 2021
We want to provide you with an update for the Token Swap. We have been continuously communicating with the three exchanges: BitMax, Kucoin and CoinEx.
All the three exchanges will provide an update in the coming days regarding the Token Swap for their specific exchange. After they announce, we will notify our community via all our social channels and the newsletter.
The exchanges are still aiming to start the swap process sometime next week.
We have noticed some questions regarding the Token Swap, and we would like to address it.
1. Is there a deadline for the swap?
Ans. There is no fixed deadline for the swap at the moment (we will announce and give adequate time if a deadline is implemented in the future). The exchanges will frequently trade their ERC20 tokens with the mainnet tokens from the OneLedger team at the backend. The user will not notice this, as this arrangement is between the exchanges and the OneLedger team. The users do not need to worry about anything related to the swap. It is a very straight-forward process.
2. How do I swap the tokens?
Ans. After the exchanges announce with the specific steps and date, all you would need to do is deposit your ERC20 tokens to an Exchange of your choice (BitMax, Kucoin or CoinEx), and then withdraw it. When you withdraw these tokens, they will be the Mainnet OLT tokens, as the swap would have already taken place at the backend.
3. How do I differentiate between the ERC20 and Mainnet OLT tokens?
Ans. The ERC20 OLT tokens can only be deposited/withdrawn from an address starting with “0x…”
The Mainnet OLT tokens can only be deposited/withdrawn from an address starting with “0lt…”
Please keep this in mind when depositing or withdrawing OLT tokens from the respective network.
If you have any questions/concerns related to the Token Swap, feel free to reach out to our team on our Telegram channel. We are happy to help!!
Note: Please do not send tokens to anyone pretending to be from the OneLedger team. We have recently become aware of many scammers pretending to be from the OneLedger team and asking for tokens. Stay safe!!