This is APIS team.
We’d like to announce APIS ERC20 token swap.
APIS ERC20, on Ethereum Mainnet, is a ‘Token’ that can’t be additionally issued. On the contrary, APIS Mainnet coin is being constantly mined and the issuance volume is increasing as per the set inflation rate. So currently as the two-way swap is being proceeded, the gap between APIS ERC20 token and APIS Mainnet coin is growing.
Therefore, we are executing a 100:1 token swap to remove the gap between ERC token and Mainnet coin, for a better trading condition.
The new APIS ERC20 token
The new APIS ERC 20 will be swapped with former APIS ERC 20 token at the rate of 100(Old):1(New).
- 📝Swap guide in detail
- Swap from the current ERC 20 token to the new ERC 20 token (100:1)
- The rate is 100(Old):1(New)
- It is for ERC 20 token only — APIS Mainnet coin will stay unchanged
- To lessen confusion during 100:1 swap, the transactions within APIS Blockchain network will include both APIS(Mainnet)/APIS(ERC20) units and users can review them via APIS Explorer.
Steps for the token swap
1. Exchange swap
The swap will be done with the exchanges where reached the agreement with APIS team. Users with APIS ERC20 token can proceed the token swap by sending them to the exchanges. Please don’t forget to change old APIS ERC 20 tokens to new APIS ERC 20 tokens before you do the exchange swap.
- Details regarding swap terms, withdrawal/deposit, trading limit, etc will be announced soon.
- Deposit/withdrawal and trading can be temporarily suspended during the term.
- The snapshot will be done after the suspension.
- The entire ‘old APIS ERC 20 token’ will be swapped to ‘new APIS ERC 20’ after the snapshot.
2. APIS platform swap
APIS platform swap will be done the same way as the exchange swap. It doesn’t require any particular procedure if you’re holding APIS ERC 20 token on APIS platform. The old ERC 20 can not be used once the swap is done and the collected old ERC 20 token (APIS) will be burned.
The two-way swap will be applied as well to the new ERC 20 token withdrawal/deposit.
- The swap term will be announced.
- Transfer/Product join within APIS platform will be unavailable during the term.
- After the transfer is suspended, a snapshot will be done.
- Once the swap is completed, APIS ERC 20 token CAN NOT be used on platform, exchanges, or anywhere else.
- After the swap is done, users can deposit/withdraw the new ERC 20 token with two-way swap option as before.
3. Public swap
The users who haven’t done the swap via exchange or APIS platform can still proceed with the swap through Ethereum Wallet. Please refer to the further announcement about the steps.
The public swap requires approval so it may take several hours. It will be approved within 24 hours.
APIS team is not responsible for the losses caused by an individual’s mistake as proceeding the steps and those are irreversible.
- It is an option for those who haven’t done the swap via exchange or APIS platform.
- The swapped new APIs will be transferred if you transfer old APIS from Ethereum wallet to the disclosed address.
- We will guide you with more details on further notice.
- Public swap requires approval and it will be done within 24 hours.
- APIS team is not responsible for the losses caused by an individual’s mistake as proceeding the steps and those are irreversible.