Swap Instructions from Old KSS-WAVES to New KSS-WAVES Smart Asset
Dear Community,
There’s going to be some changes on the KSS-WAVES token as we outline here in this blog our reasons and also a way of ensuring you are properly guided on the processes involved.
The new smart asset KSS on WAVES blockchain will have a max supply of 25 Billion. The ICO price of 0.0006 WAVES remains, and the quantity offered for ICO is also not changing.
The new max supply is to allow our $1 million worth of KSS-ETH project swap partners have an option to swap seamlessly swap to KSS-Waves if they decide to any point in the future. KSS-ETH has an official trading price of $0.30 per KSS-ETH, giving it a market cap of $30 million. So also, KSS-WAVES needs to have a market cap of $30 million from start, hence the new 25 billion max supply. This will allow a bi-directional swap from KSS-WAVES to KSS-ETH or from KSS-ETH to KSS-WAVES by any holder of the KSS token family. The swap rate will always be thus:
1 KSS-ETH = 250 KSS-WAVES
New KSS-WAVES Swap event (Current KSS-Waves to New KSS-WAVES 1:1 swap)
The swap event commences today November 12th, 2018 , 12:00 AM US Central time, and will have a deadline on November 30th, 2018 11:30pm US Central time. After this deadline the current KSS-WAVES will NOT be accepted at anymore.
The new smart asset KSS-WAVES of 25 billion max supply will be distributed after the KSS-WAVES ICO comes to an end with the exception of blacklisted addresses of persons who committed fraud or broke agreements with Krosscoin™ during the recent LBank exchange voting competition.
Any KSS-WAVES bought from the WAVES DEX will be allowed to swap with snapshot confirmation required. Tokens previously airdropped are also eligible to swap as well and requires snapshot confirmations. Addresses associated with a blacklisted address will NOT be allowed to swap.
Instructions on how to participate in the swap event
1. Send your KSS-WAVES to our address alias @swapkss or 3PFbrG9RyqppN6sisdjHkCBVFKFytA8A61p
2. In the description field, Enter “ for KSS-WAVES swap to new KSS-WAVES
As shown below
3. Send a screenshot of the full Transaction ID of your send transaction , along with your waves address clearly typed out to support@krosscoin.io
It must show all the details like To Address, TXID, fee, Asset ID, and others as shown below.
The pics below are screenshots examples from a pc and from the Waves wallet mobile app. Any of which is accepted.
Remember to type out your waves address in the email or make it the subject or title of your email to us.
4. As an additional layer of verification, you MIGHT be asked to send additional information if required.
The new KSS on WAVES will be a Smart Asset and have a total supply of 25 Billion. It will be distributed to swap and ICO participants after the ongoing KSS-WAVES ICO which will be over on Feb 1st, 2019 to make up for the swap event duration.
To read about Smart Assets on the Waves Blockchain, click the link below https://docs.wavesplatform.com/en/technical-details/smart-assets.html
5. Blacklisted addresses will not be allowed to swap, including addresses associated with blacklisted addresses.
6. The deadline to send your KSS-WAVES to designated alias or address is on November 30, 2018 11:30pm US Central time. After this date and time the current KSS-WAVES will no longer be accepted for swaps.
Krosscoin™ will announce and remind all holders daily and across all official Krosscoin™ communication channels and approved Waves platform Discord channels (#wavesprojects and #community-based-marketing )
Thanks for joining us on this journey. Participate in the ongoing KSS-WAVES ICO by registering on our website www.krosscoin.io and be part of the future of mobile apps monetization and acquire both KSS-WAVES and KSS-ETH along with PHM and REO tokens as bonuses.
The Krosscoin™ project is open for partnerships and private token sales. Inquiries can be sent to support@krosscoin.io or contact the project’s founder, Efosa Ighodaro on linkedin.
Join the project’s Twitter, Telegram and Facebook communities.
