Constellation Mainnet and Token Swap

Mateo Gold
Nov 22 · 6 min read

Dear Community,

We are excited for the launch of the Constellation Network, Hypergraph, our Mainnet. It is just around the corner!

After the launch ERC20 DAG tokens will migrate from the Ethereum Blockchain to the Constellation Main net chain. All previous ERC20 DAG tokens will become native DAG tokens by means of a token swap.

The token swap ratio between ERC20 DAG and Mainnet DAG is 1:1

The token swap will require ERC20 DAG token holders to signal their ERC20 wallet address and the new DAG Mainnet wallet address through a smart contract function. This allows us to map all balances and addresses correctly.

A swap date (more specifically $ETH block height) has been planned for the 27th of January.

We will release the final roadmap along with a step by step walkthrough for interacting with the swap smart contract and key generation of the $DAG wallet app.

Step by step guide

As we get closer to the actual day, we will provide a video and other materials to further assist you. Additionally, our Telegram Community (Here https://t.me/constellationcommunity will have support from our admins).

If you need help at any time during the process, please reach out to support@constellationnetwork.io.

Please do not send us an email until further communications have been sent. Below is a high-level explanation of the swap process:

  1. Withdraw all ERC20 DAG from your exchange wallet to a wallet to which you possess the private key (myetherwallet, Ledgerwallet, Metamask, etc). Example: Kucoin or Idex wallet holding $DAG is transferred to a myetherwallet address
  2. Create a new address on the DAG Mainnet using the DAG native wallet (called MOLLY). (More information and the ability to create a MOLLY wallet will be provided as we get closer).
  3. Submit a transaction on the Ethereum network from your ERC20 DAG wallet to a smart contract. The transaction contains your new DAG Mainnet wallet address and a signature with your ERC20 DAG wallet intended for the swap.
  4. Example: Anna has a ERC20 DAG wallet where she holds her DAG. She executes the transaction to the smart contract to let us know she owns the wallet and what the address of her new DAG Mainnet wallet is. (We will provide detailed information on how to execute the transaction and the address of the smart contract).
  5. We will freeze the Ethereum Smart Contract at a provided date and time (block height). During this time, you do not need to do anything.
  6. Trading will be halted for 2–3h at the time of the contract freeze.
  7. We will then launch the Constellation Network, with the exact same state (account balances) that were contained within the ERC20 token smart contract at the time of freeze. Your ERC20 DAG balance will be reflected in your DAG Mainnet wallet address balance.
  8. Trading continues and Constellation HyperGraph Network is live . You can access your Mainnet DAG with the native DAG wallet.
  9. Our exchange partner, KuKoin, will be able to accept your mainnet DAG.

Important notes

  • You need to have your private key available for the wallets you hold your DAG in. If you have your ERC20 DAG on an exchange you need to withdraw them to your wallet before the freeze.
  • If you have your DAG tokens stored in a multi-signature wallet or smart contract, you need to withdraw them into a regular wallet to support the token migration.
  • It is imperative to execute the smart contract function for the token swap. A failure to do so will lead to a loss of your tokens and you won’t be able to claim Mainnet DAG after the smart contract freeze.
  • You can execute the smart contract transaction the minute when we publish it — one minute before the freeze, or anytime in between. Important is that you execute the smart contract transaction at one point before the freeze and all your DAG are in your off-exchange wallet at the time of the freeze.
  • You can trade your ERC20 DAG until the smart contract freezes no matter if you have executed the smart contract transaction already or not. However, at the time of the freeze, all your ERC20 DAG must be in the same wallet from which you executed the smart contract function. Any DAG not stored in the ERC20 account indicated by the user will not be swapped.
  • The smart contract execution serves in a two-fold manner: It allows you to map your ERC20 address to the new Mainnet DAG wallet address. This allows us to swap your DAG into Mainnet DAG. The smart contract execution also serves as proof of ownership and control over the wallet that is designated for the swap.
  • If you own multiple wallets you need to execute the smart contract in each wallet or consolidate your DAG into one wallet.

Exchanges

We have contacted all relevant exchanges to facilitate a smooth transition and continued trading.

Due to the nature of the exchange IDEX will delist the ERC20 DAG as they do not support native non-ERC20 tokens. HitBTC, Hotbit, and Bilaxy may not support the Mainnet token either.

Kucoin will implement the native DAG token in accordance with the Mainnet launch. After the short integration period all deposits, withdrawals, and trading can resume immediately.

Node Operators

Nodes will start earning Mainnet DAG with the launch of the Mainnet.

Node Operators of batch 0 will be guided by the engineering team for the Mainnet launch. A separate channel of communication will be established for that purpose. (All other applicants for future batches will be notified in accordance with our batch rollout plan)

FAQ

1. When can I start running a node and earn rewards?

As we continue to onboard more mainnet node operators in batches, selected node operators of batch 0 are running a full node on the Constellation Main Net and earn validator rewards after Mainnet launch. More batches will be onboarded as node operators through late 2019 and early 2020 according to our roadmap.

2. What will happen to the current ERC-20 DAG?

All ERC-20 DAG will be frozen and become obsolete at the time of the token swap. All token balances will be determined at the snapshot freeze date and ported to the native chain. ERC-20 DAG will not disappear from the Ethereum Blockchain after the freeze, but will become obsolete. Any Balance changes on the ERC-20 DAG after the token swap to mainnet will not have any effect or use on the main net DAG tokens.

3. Does IDEX or other decentralized exchanges work after the swap?

No. Decentralized exchanges function on the Ethereum Blockchain. Therefore they do not support any native token for any Main Net. You should withdraw your tokens from these exchanges into the Constellation wallet or into your private wallet for which you do possess the private key.

4. What will happen if I do not migrate my funds into an appropriate wallet in time?

Any regular ERC-20 wallet will be accessible after the token swap with the same private key. Wallets with ERC20 balances that have not executed the smart contract transaction before the contract freeze will not be able to swap ERC20 DAG into Mainnet DAG.

5. What is the best wallet for the Constellation Main Net?

You can use Constellations official wallet. More wallet support will be coming up in the future.

6. Can I lose my ERC-20 DAG?

ERC20 DAG will become obsolete after the Mainnet swap. You need to execute the smart-contract transaction to be registered for the Mainnet swap. If you don’t execute the smart contract transaction before the freeze, your ERC20 DAG will not be swapped and you won’t be getting DAG Mainnet tokens.

7. What happens if I don’t execute the smart contract function before the freeze?

If you don’t execute the smart contract function before the freeze, your ERC20 DAG will not be swapped and you won’t be getting DAG Mainnet tokens. In effect your ERC20 DAG will become obsolete and worthless.

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