ABL Token Swap Guide

Lee-On
Lee-On
Nov 19 · 4 min read

Dear Airbloc Community Members.

As previously shared in our mainnet onboarding announcement, Airbloc will be migrating its blockchain platform from Ethereum to the Kakao-backed Klaytn blockchain platform. As part of this migration, we have negotiated with global and korean exchanges to facilitate a token swap.

ABL tokens that are minted with an ERC-20 Token Standard will be swapped to KCT-ABL tokens after the swap is completed.

Moving forward, KCT-ABL Tokens will be used in the Klaytn Blockchain Ecosystem. Kakao’s blockchain platform Klaytn was selected as the primary platform for Airbloc to mount its technology stack on because of its sharp focus on mass-adoption of blockchain for millions of users and businesses across the world.

Token Swap Details

  • Conversion of ABL-ERC20 token to a Klaytn-based KCT-ABL.
  • The token swap ratio is 1:1, and no new additional tokens will be minted. Total token supply remains at 400,000,000 KCT-ABL after the token swap.
  • The name (Airbloc Token), symbol (ABL), and logo of the token are retained after the token swap.

Token Swap Support Details

To cater to both international and Korean community members, we have managed to secure OKEX and Coinone as our initial token swap exchange partners. In addition, our wallet partner Bitberry, will be supporting the token swap as well.

Please be assured that this is only our initial exchange partners. We will announce other exchanges supporting the swap once we have secured them.

For international and Korean users who do not want to proceed with an exchange token swap, and prefer a wallet-based swap, Bitberry offers a frictionless registrations and sign-ins with Google or Kakaotalk without the need to store a private key.

Coinone

  • Deposits and withdrawals will be suspended on Friday 29 November 7pm (KST)
  • Token swap will begin on Monday December 2

OKEX

  • Deposits and Withdrawals will be suspended from 8PM on November 21th (Thursday), GMT+8.
  • It does not matter which wallet the ABL-ERC20 are stored in. Funding and Spot trading wallets are both processed for the swap.
  • Token Swap will begin at 2PM on November 22nd (Friday), GMT+8.

Bitberry Wallet

  • Token swap service will begin on 22 November 2019 with a 24/7 swap service for three months from 11:00 at GMT+9.

Guide: Easy-Token swap using Bitberry wallet

  • For your convenience, Easy swap via Bitberry wallet is also carried out. Users who are not able to use OKEX and Coinone for the swap are able to rely on Bitberry for 24/7 automated swap services.
  • Bitberry (https://bitberry.app) is crypto wallet invested by Doonamu(Upbit) that is easy and secure to use based on a Kakaotalk account and Phone number. An official partner of GroundX, a blockchain technology affiliate of Kakao.
  • Starting from November 22, after depositing ABL-ERC20 tokens to Bitberry, it will be swapped to Klaytn-based ABL tokens. After token swap, you can only move the tokens to to klaytn-based wallets (Coinone, OKex, and other Klaytn-based wallet) when withdrawing.
  • Read more about Airbloc’s partnership with Bitberry here

Swap Procedure

  • Users who hold ABL (ERC20) on OKEX and Coinone will automatically complete the token swap, and their ABL (ERC20) will be converted to KCT-ABL.
  • The swap process would take about 2–3 hours. We will issue a separate announcement in our community channels, along with exchanges’ announcement once the swap has been completed.
  • If you have ABL-ERC20 tokens stored a different exchange/ wallet, please proceed move them to Coinone and OKEX or use the ‘Token Swap using Bitberry Wallet’ below.

Post-Swap Procedures:

  • After the token swap, users will only be able to withdraw their KCT-ABL tokens to: Bitberry, OKEX, Coinone and Klaytn wallet https://wallet.klaytn.com
  • As holding tokens on an exchange involves hot wallet and counter-party risks, you are advised to create a cold wallet on Klaytn’s web wallet https://wallet.klaytn.com to securely store your KCT-ABL tokens after the token swap.

Precautionary Measures:

  • After the successful completion of token swap, you cannot deposit or withdraw ABL-ERC20 to the exchanges/wallets that have already completed the token swap. For example, a KCT-ABL token that completed token swap cannot be transferred to a wallet or exchange that only supports ABL-ERC20.

Thank you.
Airbloc Team

Official KakaoTalk Community (Korean): http://abit.ly/airblockorean

Official Telegram Community (English): http://abit.ly/airblocglobal

Official Telegram Assessment (English): http://abit.ly/airblocannouncements

Airbloc Protocol

A consent-based real-time personal data exchange platform, Airbloc aims return data ownership back to individuals, allow applications to collect and monetize data legitimately, and allow enterprises to exchange explicitly consented data with an auditable source of provenance.

Lee-On

Written by

Lee-On

Chief Strategy Officer at Airbloc

Airbloc Protocol

A consent-based real-time personal data exchange platform, Airbloc aims return data ownership back to individuals, allow applications to collect and monetize data legitimately, and allow enterprises to exchange explicitly consented data with an auditable source of provenance.

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