Blue Whale Token Swap Announcement

Phoebe
Phoebe
Mar 29, 2019 · Unlisted

Dear Blue Whale Fan-mily,

Based on the feedback we have received from our community, partners and leading digital asset exchanges, Blue Whale Global will be swapping our current ERC-20 BWX tokens to new ERC-20 tokens on a different smart contract. This will heighten the security during token use and allow Blue Whale Global to leverage the Ethereum ecosystem on a broader scale.

Token Swap

Blue Whale Global will be commencing the swap of 1,000 [one thousand] ERC-20 BWX tokens to 1 [one] new ERC-20 BWX token with a swap ratio of 1000:1.

Please note that with this new swap ratio, the 16th decimal point will be rounded up to the new 18th decimal point but token holders must have more than 1 BWX token in the previous contract. Please also note that there will be a decrease in the total number of tokens issued due to this new swap ratio.

Timeline

The token swap will adhere to the following timelines:

Exchange Token Swap

  • March 29 — April 17:
    Official announcement period of token swap on exchanges
  • April 12–17:
    Live period for token swap on exchanges (Please note that all withdrawals, deposits and transactions will be suspended during this period, starting from April 12, 2019, 02:00 UTC.)
  • April 17
    Official announcement of token swap completion; Launch of new token with all withdrawals, deposits and transactions resuming at April 17, 2019, 06:00 UTC

Official Public Token Swap

  • April 17:
    Official announcement of official public token swap at 08:00 UTC
  • April 17 — April 30:
    Live period for official public token swap (Please note that the public token swap will end on April 30, 2019, 23:59 UTC.)
  • April 30:
    Official announcement of official public token swap completion (We will be supporting the swap process after the completion of the official token swap for a limited period. However, we strongly advise you to complete the token swap during the official token swap period.)

Token Swap Instructions

Please refer to the following instructions on how to commence the token swap according to the location of your tokens.

Frequently Asked Questions

1. How long will this token swap take? When is the deadline?

For those conducting their token swap within our exchanges, the token swap period will be determined by the exchanges themselves. Please follow the official notice and instructions from your exchange.

For those utilising our BWX token swap web tool, the deadline will be April 30, 2019, 23:59 (UTC). We will be supporting the swap process after the completion of the official token swap for a limited period. However, we strongly advise you to complete the token swap during the official token swap period.

2. How safe is the token swap?

The digital asset safety for all BWX token holders is of utmost priority to the Blue Whale team and we ensure all necessary precautions are being carried out during the planning and execution of the token swap. We would like to remind all token holders to only use the official BWX token swap web tool, or via the official instructions of trusted exchanges.

We have also implemented a transaction record mechanism in our BWX token swap web tool. If your swap transaction is not confirmed within 4 hours, please record your customer ID and notify us of your issue at swap@bluewhale.foundation. Our customer support staff will track your transaction and look to resolve your issue.

3. What will happen to the previous smart contract?

The previous smart contract will stay intact during the swap process. It will only be destroyed after the swap is completed on April 30, 2019. You can monitor all previous ERC-20 BWX assets here.

4. Can you publish the new ERC-20 smart contracts?

We will be releasing more information on how you can view the new ERC-20 smart contracts in a separate announcement. Please stay tuned for that.

Should you have any further queries, please contact us at swap@bluewhale.foundation and we will get in touch with you shortly.

Thank you so much for supporting our project! We appreciate your confidence in us and we look forward to share our success with you.

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