Token Swap: FAQ
Since the token swap process has started a few days ago, we have received numerous clarifying questions from our community. To ensure that you are sufficiently informed about every aspect, we have gathered the most frequent ones — and answers to them in this article.
Note: If you don’t see your question here, chances are we have already answered it in our announcement blog post.
How long will the token swap last?
The Token Swap period is unlimited for now. You are able to change your tokens for coins, and Vise Versa.
How can I swap my ERC20 ESS tokens?
If you hold your tokens on your native Essentia wallet, you can perform the swap using the Essentia desktop app.
What will happen to my ERC20 tokens if I don’t make the token swap?
Nothing, you will still be able to make the swap at a later stage.
How do I know if my ESSX is ERC20 tokens or mainnet ESS coins?
In the desktop application, you will be able to see both (ESS and ESSX) balances separately. Also, you can check your Ehtereum wallet balance on https://etherscan.io/ and ESSX coin balance on https://blockexplorer.essentia.one/
I have my ESS on MEW. Can I do the token swap using MEW?
You will have to either transfer to tokens to the Essentia native wallet or simply import them using your private key.
Why do you only make it possible to swap using the native wallet?
This way we can be sure the swap will go smooth and won’t be compromised. Using the native wallet only allows us to provide more security during the swap.
How long does it take to process the token swap?
The token swap process only takes a few minutes, depending on the network load at the time of the swap.
Do I need to have ETH in my ERC20 wallet in order to initiate the swap?
Yes, in order to perform a token swap you will have to pay a minor ETH fee on the Ethereum network (gas). You can check the current Ethereum network fee levels at https://ethgasstation.info/
How much ETH is required for swapping ESS using the Essentia native wallet?
You can check the current Ethereum network fee levels at https://ethgasstation.info/
I have my ESS airdrop in my wallet. Do I need to swap them?
You have to swap your tokens if you’d like to receive mainnet ESSX coins. Otherwise, you can keep your ESS tokens on the Ethereum network.
What if I can’t deposit my ESS tokens to the native wallet before the deadlines?
There is no set deadline. The token swap period is unlimited for now, both for changing tokens to coins and vice versa.
I already have an ESS wallet. Do I have to create a new wallet to initiate the swap or I can use my current wallet?
You can use your current wallet, and initiate the swap after importing it using your private key.
Want to perform token swap now? Check out the guide to make sure it goes smoothly.
Did we answer your question? If not, feel free to reach us via the official Telegram channel — we’re always ready to answer.
Connect or Contribute
Website| Telegram | Twitter| Reddit
