$CAN token swap to be completed by the 31st January 2020
Token Swap
As those in our community will be aware, CanWork and the CanYa ecosystem has moved to Binance Chain. This was announced, following a community vote, on the 16th of May 2019.
It was done for several reasons that will benefit the CanYa ecosystem, its users and its token holders in the long term, including:
- Accessing and harnessing Binance’s brand power
- A better technology stack
- A healthy development ecosystem
Read more about the benefits of migrating to Binance Chain here
As part of this move, all existing ERC-20 (Ethereum standard) $CAN will need to be swapped for their BEP2 (Binance Chain standard) equivalent. We have been encouraging our community to complete this via our social channels and more recently via email.
The ERC20 $CAN will be subsequently removed from exchanges including Kucoin on the 31 January 2020. We have therefore set a deadline for the swap to be completed by token holders by the 31 January 2020.
I have ERC20 $CAN, how do I swap!?
The CanYa team have created a written and video guide on how to achieve the swap:
Video Guide:
Written Guide:
If you have any questions or problems the team are always available and happy to help in the Telegram community channel: https://t.me/CanYaCommunity
Why are there are still ERC20 tokens being traded?
Due to the nature of cryptocurrency, there is nothing stopping individuals trading ERC20 $CAN on exchanges or otherwise. This, technically, could go on indefinitely. The CanYa team cannot dictate what an individual or an exchange does with their tokens. However, ERC20 $CAN is not supported on CanWork. Additionally, we cannot guarantee that individuals will be able to swap their tokens after the 31 January 2020.
Furthermore, the CanYa team are ensuring that token holders will be most incentivised to use the BEP2 standard into the future by the following methods:
- DAO staking and rewards can only be achieved with BEP2 $CAN
- BEPSwap, a decentralised liquidity protocol that will create deep liquidity and seamless on/off ramps for $CAN will only support BEP2 $CAN
- CanWork will only support BEP2 $CAN.
To find out more about CanYa DAO staking and how you can participate we have prepared the following guides:
Video Guide:
Written Guide:
You can find out more about BEPSwap and its impact on the future liquidity and on/off ramps of $CAN below:
BEPSwap Video:
Why we are excited for BEPSwap:
Other Helpful Information:
We have prepared the following blogs as additional information for our token holders during and after the transition to Binance Chain.
How to buy/sell $CAN on Binance DEX:
Using CanWork on Binance Chain:
The future of CanWork & growth plans post-Binance Chain Migration:
If you have any further questions or issues please contact us via any of the methods below:
Links:
- Telegram Community: https://t.me/CanYaCommunity
- Telegram Announcements: https://t.me/canyacoin
- CanWork: https://www.canwork.io/
- Twitter: https://twitter.com/canyacoin
- Facebook: https://www.facebook.com/CanYaCoin/
- Medium: http://www.medium.com/CanYaCoin/
