Token swap? Mainnet Launch?「Programmer Explain」
You are in danger of losing all of your investment on crypto currency if you do not know what is token swap!
Have you heard the 「token swap」 or 「Mainnet launch」? If you don’t, you might not know what you are actually investing in crypto world. That might cause you to lose all of your investment.
I will be breaking down
— What is Mainnet Launch— What is token swap, its potential risk and how you can aggregate the risk.
What is Mainnet Launch?
Mainnet Launch refers to a blockchain project that is going to deliver some of its promises that clams to deliver in their white paper .
Te be more specific, the team use smart contract to create tokens that guarantee its future. With this tokens, it could be used for future good or services.
How to do a token swap?
「Do it yourself」 — 「Safe but requires special knowledge about blockchain」
The team usually will give out instruction for how swap their token with their native asset. However, it might requires knowledge about understanding the fundamental of how blockchain works. Otherwise, you might lost all of your funs.
「Find a centralized exchange that supports」 — 「Need to fully trust if the party will take all of your token and run away」
There would have exchange that makes announcement of supporting particular token swap.
EOS / ONT, for example
EOS just finished its token swap. It was aimed to swap at June 1, 2018. Its token swap was finished after 3 weeks. (it might take longer or shorter depends on the complexity)
ONT is going to launch its Mainnet and would need a token swap mechanism as well. The instruction has not being determined yet but Binance has claims supporting .
Token swap would be needed after Mainnet Launch if this particular project issued tokens by using smart contract
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About me
I am a full-stack javascript developer and one of the contributors for NEO blockchain project.
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