Hot off the press from ALAX and DECENT, we have important information about the ERC20 ALX Token Swap. For all of you ALX token holders, please read the following info carefully, as this informative blog will explain how to swap your ERC20 ALX tokens to the official ALX tokens running on the DCore blockchain.
Our developer teams have been working very hard on all the behind-the-scenes tech stuff to ensure this swap is as seamless as possible. We have created an in-depth guide for everyone to follow, packed full of examples, screenshots and step-by-step instructions. Click here for the complete guide to token swap. Let’s walk you through it now!
Who should pay attention?
Anyone holding ALX tokens, this guide is for you!
When will the ALX Token Swap begin? How long do I have to perform the Token Swap?
The migration to DCore will require a full swap of all ERC20 ALX tokens. The token swap will begin on Wednesday, November 14 at 9:00AM GMT. You can perform the ALX token swap at any time from the start date mentioned above until January 29, 2019 at 10:00AM GMT.
What do ALX token holders need to do?
There are 2 ways to perform the ALX token swap.
1) You can hold your ERC20 ALX tokens on the CoinBene exchange before Wednesday, November 14 at 9:00AM GMT and the exchange will take care of everything for you.
2) You can do the swap manually anytime from Wednesday, November 14 at 9:00AM GMT until January 29, 2019 at 10:00AM GMT.
What is the easiest way to perform the ALX Token Swap?
Possibly the most simple method for you, an ALX token holder, would be to set up an account on CoinBene exchange (if you haven’t already) and send your ERC20 ALX tokens to that account. Since CoinBene exchange will do the swap automatically, all you need to do is hold your ERC20 ALX tokens there and the token swap will automatically be taken care of for you.
But you need to act fast, the CoinBene exchange will begin the swap on Wednesday, November 14 at 9:00AM GMT, and at that time, all transactions (deposit and withdrawal) will be paused for the duration of the swap. If you don’t hold your tokens on CoinBene exchange at the start of the ALX token swap, then you will need to perform the swap manually.
How to do the ALX Token Swap manually?
We have created an in-depth guide to the ALX token swap, which will walk you through the entire process. The guide will be released at the start of the ALX token swap, but before that, here are some steps you should be aware of:
First, in order to perform the ALX token swap manually, you will need to have an ERC20 compatible wallet (we recommend MyEtherWallet) and a DECENT wallet (create one at https://wallet.decent.ch/ )
Second, after the swap begins, you will need to send your ERC20 ALX tokens to your DECENT wallet. In order to complete this transaction, you will need a small amount of ETH (Ethereum) in your ERC20 compatible wallet which will be used as GAS to send transactions on the Ethereum blockchain.
What If I hold my ERC20 ALX Tokens on an exchange?
If you hold your ERC20 ALX tokens on CoinBene exchange, then you don’t need to do anything as they will be automatically swapped for you.
If you hold your ERC20 ALX tokens on either Liquid or Crex24 exchanges, you will need to send them to an ERC20-compatible wallet and perform the ALX token swap manually. Just a reminder that exchanges are third-party entities and have no official affiliation with ALAX or DECENT. Therefore, the information we have right now is subject to change by their will, so we recommend every ALX token holder keep a close eye on their exchanges’ announcements or to manually swap their tokens using the process outlined in the guide.
And that’s it! We have tried to make the ALX token swap as quick, easy, and secure as possible. Of course, if you have any questions or run into any issues along the way, you can contact the token swap tech support at email@example.com or speak with our team members live in our official ALAX Telegram group.