APIS — Mainnet countdown(Token Swap), Platform open Beta

Bituniverse News

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BitUniverse News

6 min readDec 24, 2018

Hello, this is APIS Team.

Here we announce the APIS mainnet launch date you’ve been waiting for.

We’re launching Mainnet on Dec. 29. 2018 13:00 (UTC+8).

It takes some time to set the contracts that build APIS Blockchain(Mineral System, Address Masking, etc) after the Genesis Block creation and APIS team will execute POS mining for an hour (about 450 Blocks) to stabilize the Blockchain and all those created APIS will be burned.

We’re starting APIS platform open Beta and Two-way swap.

To prevent the confusion, there will be two options of [ERC-20 APIS Token] and [APIS Mainnet Coin / APIS] for Two-way swap.

Please check more detailed guide below.

1. APIS Platform Open Beta

We’re starting APIS platform open Beta and you can access to following services from now.

1. You can participate in Masternode.

1) You can participate in our own APIS Masternode and DASH/PIVX/SYS Masternode after depositing APIS.

2) You can participate in other Masternodes with 12,500 APIS minimum and the amount will change afterward.

3) The cancelation fee of other Masternodes participation is about 3% and it will change after the mainnet launch.

4) Withdrawal of ‘Other coins except APIS’ will be on hold until the two-way swap system is stabilized.

5) On APIS platform, you can participate in APIS Masternode though you have more than 50,000 / 200,000 / 500,000 APIS. (You can participate in Masternode though you have more than the exact amount in your account.)

2. Two-way swap support

Two-way swap is available only through APIS platform. Two-way swap is a swap system designed to minimize the possible difficulties and confusion during mainnet switch.

※ Please find out more details at the ‘note’ below.

3. Deposit and withdrawal of APIS coin

APIS coin deposit will be available when APIS platform open Beta starts.

APIS coin withdrawal will be available from Dec. 29. 2018 and you can withdraw after 72 hours from your first deposit. To stabilize an early main chain, we will combine automatic withdrawal and manual confirm. We will keep increasing the automatic withdrawal rate.

There is time and amount limit to monitor the platform and main chain overload.

[Minimum deposit commission]
Less than 5,000 APIS: 500APIS commission
- The deposit commission will be charged to prevent malicious server attack by creating excessive transactions.

Withdrawal is available after 72 hours from the first deposit and the commision is 1,000 APIS.

[Withdrawal limit]

Daily withdrawal limit: 1,000,000 APIS

Automatic withdrawal limit: 200,000 APIS

[Available time]

Less than 200,000 APIS: Automatic withdrawal, no restriction

200,000 APIS — 1,000,000 APIS: Requires approval, during weekdays 09:00 ~ 17:00 (UTC+8)

Please note that the time may be changed.

※ NOTE; precautions for open Beta

Please check below precautions before using our platform.

During open Beta, temporarily, deposit/withdrawal service will be available only for APIS.
Please check our Two-way swap system guide before you deposit/withdraw.
To stabilize an early main chain, we will combine automatic withdrawal and manual confirm for a while.
Withdrawal is available 72 hours after the first deposit.
APIS withdrawal will be available from Dec. 29. 2018 [14:00 UTC+8]
Withdrawal of other coins except APIS will be available after a while, to stabilize the Two-way swap system.
It is irreversible when you lose OTP. Please keep your recovery key safe after OTP registration.
Two-way swap is only available through APIS platform.
You should take responsibility for the loss caused by your carelessness while using APIS platform.

2. Two-way swap

We applied our distinctive technology, Two-way swap using APIS platform(https://apis.mn/) to lessen the difficulties and confusion in existing coin’s mainnet switching process.

We can solve problems of snapshot and token transfer restriction after genesis block creation with Two-way swap system.

Supporters can complete token swap simply without writing an extra smart contract or snapshot through APIS platform.

[Mainnet Switch of the exsiting coin]

Private Wallet users had to send tokens following the swap guide or send them to an assigned exchange before mainnet and then had to go through deposit/withdrawal hold and snapshot, not being able to use a mainnet service.

[APIS Mainnet switch]

Through APIS, you can use deposit/withdrawal service of exchange regardless of the mainnet switch and can start using mainnet service right after the swap through APIS platform so it is much easier than former ways of other coins.

1. What is Two-way swap system?

Do not confuse [ERC-20 APIS Token] with [APIS Mainnet Coin / APIS] for the Two-way swap! [ERC-20 APIS Token] and [APIS Mainnet Coin / APIS] are each token and coin and totally separated.

Users can change [ERC-20 APIS Token] to [APIS Mainnet Coin / APIS], the mainnet coin or vice versa when they need, with Two-way swap system.

Please refer to the image below about the difference between [ERC-20 APIS Token] and [APIS Mainnet Coin / APIS].

[ERC-20 APIS Token]

ERC-20 APIS Token is an Ethereum based token which is available both on Ethereum based Wallets and exchanges but it won’t be available on APIS Core or other APIS Wallets.

[APIS Mainnet Coin / APIS]

APIS Coin is a mainnet coin and available on APIS core & other APIS Wallets but it won’t be available on Ethereum based Wallets.

But users can deposit both [ERC-20 APIS Token] and [APIS Mainnet Coin / APIS] to APIS platform(https://apis.mn/).

Two-way swap can be executed only through APIS platform(https://apis.mn/).

※Please note※

Two-way swap can be executed only through APIS platform(https://apis.mn/).
You are responsible for the loss caused by executing Two-way swap other than on APIS platform or mistakes regarding deposit/withdrawal.
DO NOT transfer [ERC-20 APIS Token] directly from an exchange to [APIS Mainnet Coin / APIS] wallets or vice versa.

※NOTE; precautions

Two-way swap can be executed only through APIS platform(https://apis.mn/).
You should use APIS platform for Two-way swap and there is no other method.
Make sure you chose the right option for your purpose between [ERC-20 APIS Token] // [APIS Mainnet Coin / APIS].
DO NOT send [ERC-20 APIS Token] to APIS Core and [APIS Mainnet Coin / APIS] Wallets from exchanges or Ethereum based Wallets directly. (Do Two-way swap first on APIS platform.)
DO NOT send [ERC-20 APIS Token] to exchanges or Ethereum based Wallets from PIS Core and [APIS Mainnet Coin / APIS] Wallets directly.
Check the [ERC-20 APIS Token] // [APIS Mainnet Coin / APIS] option while P2P trading.
You are responsible for any loss caused the carelessness regarding [ERC-20 APIS Token] // [APIS Mainnet Coin / APIS] transfer.
APIS team is not responsible for any loss caused by carelessness or trying to do Two-way swap different way from we guided.

Thank you for your love and support. We APIS team will try our best to lead the commercialization of Blockchain technology.

Please understand we’re making announcement with divided content by the means of management.

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