Announcement on Waltonchain Token Swap Phase 2
Dear Waltonchain users and supporters around the world,
In order to thank miners for the great contribution to the Waltonchain mainnet, Walton Chain Foundation (the Foundation) will perform the next token swap after block No. 350,000.
Token swap procedure:
1. At block No. 350,000, the Foundation will take a snapshot of the WTCT mining addresses which received mining rewards of 50 or more WTCT excluding the rewards paid out at the Token Swap Phase 1. The addresses will receive WTC at the ratio of 1:1 (the mined WTCT will be converted into ERC20 WTC). Further, the Foundation will perform token swaps after every subsequent 50,000 blocks are mined (i.e. after blocks No. 400,000, 450,000, 500,000, etc.) until the mainnet swap;
2. The Foundation will send the equivalent WTC to Ethereum addresses corresponding to the WTCT addresses. For example: when the address 0x123456789 with private key 123456 mined 200 WTCT, the Foundation will send 200 WTC to the Ethereum address 0x123456789. Since the underlying algorithm of Ethereum and Waltonchain mainnet are the same, the 0x123456789 Ethereum address can be accessed with the private key 123456 and the received 200 WTC can be used;
3. For users who want to use WTCT to obtain the SMN status, the Foundation will send the equivalent WTCT to the unique qualified SMN address (certification must be completed before the snapshot);
4. Before the mainnet swap is complete, all funds used for token swap (including the Token Swap Phase 1) shall be advanced by the Foundation. After the mainnet swap is complete, the advanced funds shall be deducted from the Mining Fund and returned to the Foundation.
We would like to express our sincere gratitude to Waltonchain users around the world for your understanding and support!
Walton Chain Foundation
December 7, 2018