Mainnet FAQ: Token Swap and Wallet
To be updated at https://mainnet.kardiachain.io/faq
Q1- When is the token swap from ERC20 to mainnet? are there Any guidelines?
Answer: After the mainnet, there will be two types of KAI: ERC-20 KAI and native KAI, but the total is still 5B.
We will introduce the token swap bridge so you can bring ERC-20 to native KAI when you want to.
You can still trade the ERC-20 KAI as normal so it should be seamless to you.
Q2- Will we be able to swap anytime after mainnet if we don’t swap early?
Answer: Yes, we will provide more token swap phrases in the future.
Q3- Can I withdraw anytime after stake?
Answer: The cooldown for unstacking when delegator undelegated to their validator is 7 days!
Q4- About delegation, Is it the same as the swap process?
Answer: You will use our explorer to delegate your KAI to your favorite Validator.
Q5- I know that it is no longer be in ERC20. So if you can operate with Metamask on the KAI Mainnet, just like you do with BSC Mainnet, Fantom, etc. Can you do it?
Answer: In the road to mainnet launch in mainnet.kardiachain.io, you can see the next stage is to introduce KAI Master wallet and Explorer.
From our Master Wallet and Explorer, you can interact directly with KardiaChain mainnet, similar to how you do in testnet currently.
Q6- What is the benefit for us to the early swap of KAI token?
Answer: The earlier you swap, the earlier you can stake and the higher the APR will be.
Q7- The early token swap is completed. Now, what do I need to do?
Answer: When we introduce the KAI Master wallet and explorer for mainnet where you can see your native KAI token and start using it when mainnet launches on 29/12.
Q8- What we are doing today (12/24/2020) is the token swap and is this the early staking?
Answer: We are doing an early token swap so you will have the native KAI available when mainnet launches, and you can stake/delegate/transfer/write a smart contract or do whatever you want in the mainnet.
Q9- Is it ok to leave KAI on the exchanges and delegate them to stake after the Mainnet is launched and staking starts?
Answer: Yes, but not immediately for all exchanges to perform the swap. You may have to wait for a while.
The easier solution is either doing the early token swap today or wait for when we introduce the token swap bridge then you can swap and stake through our Master wallet.
Q10- The advantage of the Early Token swap today is for higher APR% before the original staking starts on the Mainnet, is this correct?
Answer: Yes, higher APR because of only a small amount of native token available when mainnet launches.
Q11- Don’t we have to choose a validator if We just swap early and will it be staked automatically?
Answer: Early token swap only means you will have native KAI token on the date mainnet launches (29/12).
Then you can do everything on mainnet (similar to ETH). You can transfer, deploy smart contracts, or stake to any validators you want.
You can play in our testnet to get an idea.
Q12- How to Access my Swapped KAI?
Answer: Your wallet address will be the same on ERC-20 and KardiaChain mainnet so you can use the same private key/Keystore/pneumonic phrase as before.
Q13- Is the early swap also a stake?
Answer: The swap is a pegged 1:1 swap from ERC20 KAI Token to Native KAI Mainnet token when mainnet goes live, you can access your wallet by the private key, mnemonic, and Keystore on Mainnet Explorer to stake, transfer token, build smart contract and delegate.
Q14- If you have a schedule to burn the ERC20 tokens, how are we going to able to bridge them?
Answer: We will burn the ERC20 token to swap to the new native token.
Q15- Do we access the wallet with our Metamask seed phrase?
Answer: Yes KAI network and ETH network use the same hashing algorithm so you have the same wallet address, meaning you can use the same private key to access KAI wallet.
Regarding token swap after mainnet:
1. If you are NOT interested in early staking or using KardiaChain mainnet, you don’t have to do anything now. Eventually we will work with exchanges to auto swap your KAI tokens to the native KAI.
2. If you are interested in swapping your KAI before we enable auto swap, we will provide token swap bridge so you can “manually” swap ERC-20 KAI token to Native KAI token.
3. Regardless of 1 or 2 above, you can still trade KAI token seamlessly.
Please reach out to our team if you still have questions. Your concerns are our top priority and we will make sure to address them quickly.
Thank you for your tremendous support. Mainnet, here we come!
>> https://mainnet.kardiachain.io
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