Postponing exchange listing to issue new CRL tokens version

Dear community members,
one of the important next steps for Cryptelo is making our tokens available on exchanges. Our tokens are an integral part of our ecosystem. We have closed listing agreement with Nakamotox and IDEX exchanges. During IDEX listing process an issue with our smart contract implementation was discovered, which prevents our CRL tokens from being traded openly on decentralized exchanges.

What happened? We used OpenZeppelin ERC20 implementation for CRL as a widely used solution. This framework contained a bug which makes smart contracts not ERC20 compatible with new versions of solidity (runtime of smart contracts used on Ethereum blockchain). If you’re interested in more details read this article.

As we aim to build a global security platform, we can’t accept any (even future) problems or limitations. We have decided to issue a new version of CRL token and postpone token exchange listing to 8th November. This step ensures the ability to trade our tokens freely for all token holders.

I have the same issue, what can I do?

The bug described above affected more than 130 smart contracts. There are three possible solutions:

1. Issue new ERC-20 tokens.
2. Issue new ERC-223 tokens.
3. Evaluate all connected limitations and do nothing (not recommended).

New CRL tokens will be issued

We decided to issue new tokens ERC-20 to fix this issue. In general, you don’t have to do anything special, the new tokens distribution will be covered on our side.

This decision implies three steps that are important to you:

1. On 1st November 0:01–23:59 EDT new CRL tokens will be issued and distributed into your wallets reflecting the number of your CRL tokens. We suggest you not to transfer any tokens during this time. Since that moment only new ERC-20 are going to be valid CRL tokens.
2. On 8th November new CRL tokens will be listed on exchanges.
3. Bounty tokens will be sent on 6th December.

Thank you for your lasting support and looking forward to share news in next quartal report.

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Originally published at blog.cryptelo.com on September 30, 2018.