How to swap my NULS tokens?

Nulsnode.com
4 min readJul 15, 2018

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Now the NULS blockchain is live, there are two ways to swap your NULS tokens, from the ERC20 holding tokens to the ‘real’ mainnet tokens. One way is to put (or leave) them on one of the exchanges that will support the swap and wait for them to execute everything for you, or you do it manually if you can’t wait.

Method 1: Trust the exchanges

As of today the exchanges who support the swap are:
Binance, Bit-Z, Coinbene, Kucoin, Bloex, …

Exchanges supporting the Nuls swap

Note: If you choose to leave them on the exchange, follow their communication channels to make sure you know when they’ll do it.
You don’t want to lose your coins by making the mistake of sending ERC20 tokens to the NULS mainnet wallet. Normally if the exchange is setup properly, there would be a failsafe. I think Binance checks the format of the addresses before withdrawing, but I’m not sure.

Method 2: Start staking now by doing the swap manually!

If you would want to start staking immediately, then you need to do it manually. It will take some extra steps but then again you will be ahead of the game. Follow these steps below to swap your tokens:

1. Install your NULS wallet

Go to the NULS site to download the latest wallet. After installing the wallet you only need to create an address and then you’re set to go.

In the following steps make sure to screenshot every step to make sure you have a backup should something go wrong. (Power loss, system crash, …)

2. Set up your reclaim address

Go to the token swap site that the Nuls team set up here and enter your previously created NULS address to receive your reclaim address.

Create the reclaim address

By doing this, a pop-up window appears telling you what your reclaim address is. Screenshot this! The address you receive is an ERC20 address and can only be used in combination with your NULS address. This unique coupling will exist during the whole swap period. (Swap ends 2018–10–12)

3. Start your swap!

The only thing left to do now is send your ERC20 NULS tokens to the reclaim address and wait for your coins to be swapped. Screenshot every step of your actions here. Screenshots I took are:
- confirmation screen of my wallet before sending my tokens
- one of my TX Hash (Transaction Hash).
The swap can take 10 minutes to finish but it could also take some hours as it is dependent on the Ethereum network and the amount of swaps the NULS script needs to process at that time. Below I’ll share some tips on how to partially follow the process.

Now you can start staking!

You want to know how? Go to my other story “How to start staking NULS”!

If you like this story give me a clap and join me by staking on one of the nodes! Happy Staking!

#Tips to follow the swapping process

Check your deposit to the reclaim address

After you send your tokens to the reclaim address you can search for your TX Hash on etherscan.io where you can follow the confirmation process.

Follow confirmation

Once you have a successful transaction, you can search for the reclaim address where you will see your transaction with the green label IN indication.

Reclaim received

When is my deposit picked up?

We now need to wait for the NULS script to pick up the balance for the swap. When a second transaction of the exact same amount shows up, you know it’s been picked up. The transaction will have an orange label stating OUT.

Reclaim picked up

Now the waiting game really starts!

We need to wait on the NULS script to execute the swap. The only thing we can do is go back to the swap site and enter our NULS address again there. This will show you your reclaim address again but below that it will show some progress ONCE the script picked up your balance.
Like I said before, this process can take 10 minutes but also a couple of hours so don’t worry!

Swap Follow-up

If you like this story give me a clap and join me by staking on one of the nodes! Happy Staking!

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