How to Swap ERC-20 Tokens for Native SEN Coins
Note: The native SEN coin isn’t yet listed on exchanges although listing is planned for 2019. For this reason there is no deadline to SWAP. For those who feel more comfortable holding the ERC-20 SEN token until listing, you are free to do so.
Greetings, community!
Along with the Sentient network launch, we’re announcing the start of the swap process to exchange ERC-20 SEN tokens for native SEN coins.
ERC-20 SEN tokens will be exchanged for native SEN coins at a 1:1 exchange rate (1 ERC-20 SEN token = 1 native SEN coin). Please be aware that once you have exchanged your tokens for coins, you cannot convert them back into ERC-20 SEN tokens.
Note 1: Airdropped SEN are native SEN coins. They do not need to go through the token swap process.
Note 2: the SEN token swap will take place exclusively through the Token Swap portal at swap.sentient.org. If you come across any scam attempts, such as a request to send your SEN to an individual wallet for the token swap process, please inform us immediately at help@sentient.org
The token swap procedure
Follow the instructions described below carefully. After following these steps, you’ll receive native SEN coins to your Sentient network public address within 48 hours.
- Create an account at swap.sentient.org
2. Download and launch the Sentient Wallet app.
3. Set up your wallet and generate a new Sentient network public address.
4. Copy the generated address and paste it in the appropriate field at the Token Swap portal.
5. After saving the address, you’ll get your personal Ethereum address for burning ERC-20 tokens. Transfer your ERC-20 tokens there.
Please don’t transfer your tokens to any address other than your personal burn address, as shown in your profile at the Token Swap portal.
The system will automatically scan your burn address. Once we detect the incoming ERC-20 SEN transaction to your personal burn address and receive 30 block confirmations from the Ethereum network, you will be able to see the swap status.
The violet bar means that the system has detected your transaction and will send you native SEN within 48 hours. You can click the bar to see more details.
The green bar means that native SEN coins have been distributed to your saved public address.
Notes
- Airdropped SEN are native SEN coins. They do not need to go through the token swap process.
- The native SEN coins will be stored in the Sentient network wallet. Please do not send your native SEN coins to ETH-based wallets, such as MEW. We are working to add support for native SEN coins on major wallets and will keep the community updated on our progress.
FAQ
I took part in the airdrop and bought ERC-20 SEN on exchanges. Do I have to register at the token swap portal again?
Yes, you need to create a new account at the Token Swap portal.
I already have a Sentient network address. Do I have to generate a new one?
You can use the existing one. But we highly recommend to download the Sentient Wallet first, import your seed and make sure that the existing address appears in the “addresses” tab. Only after this you can be sure that it can be used for the token swap.
What is the token swap period?
The token swap process will last at least for the next few months. We will announce the end date in advance.
