TRC20 swap proposal — implementation & instructions
Hi guys! It’s been some time since our last update, as we’ve been extremely busy combing through the final implementation for PreSaga. Just this week we finalised testing for the liquidity removal feature, which we had to re-write a couple of times to ensure accuracy when presenting estimated output amounts.
We’ll get back to PreSaga next week with another update.
For now, we’d like to announce that we have concluded the first implementation of the LOCK trc20-erc20 swap proposal. Although still quite basic, it’s enough for the end goal.
First, a recap on what what we did:
- We created a token named LOCK on Tron’s blockchain (trc20)
- We gave it the same total supply as LOCK erc20 (10,947,704.5424 LOCK)
- We created a Tron address solely for holding swapped trc20 LOCK
- We created an Ethereum address solely for holding swapped erc20 LOCK
You can see LOCK’s trc20 contract here:
You can see the Foundation address holding the swapped TRC20 supply here:
You can see the Foundation address holding the swapped ERC20 supply here:
https://etherscan.io/address/0x6704fDB66CB0a14012f9A0425d4EcD6684862d79
How to swap between LOCK erc20 and LOCK trc20
As previously stated, we initially planned on developing a non custodial Dapp utilising a central server with smart contracts monitoring both blockchains and disbursing tokens as required. However, and as to ensure PreSaga remains our top priority, we decided to start by implementing a more “rudimental” solution, and later on move to a more elaborate system should we deem necessary.
Swapping between LOCK erc20 and LOCK trc20 is a two-step process.
Step 1 — The user sends a Telegram message to a team member with the following details:
- how much LOCK they will be swapping
- the Ethereum or Tron address they will be sending LOCK from
- the Ethereum or Tron address they wish to have LOCK sent to
Telegram admins: @Drjtotherescue / @SandyBees / @notmuchwbu
Step 2 — Once the respective admin gives the ok, the user sends his LOCK to the respective address for swapping.
- The admin will provide the address for the swap (can also be found above)
- The user can expect to receive his tokens within less than 24 hours
- Minimum of 2000 LOCK per swap
That’s it, this will allow our holders to swap LOCK between the Ethereum and Tron blockchains while allowing us to stay focused on delivering PreSaga before 2021.
We will get back to you guys next week with some juicy updates regarding PreSaga and marketing.
We’d also like to thank you for the support you’ve given us thus far, it’s one of the things that motivates us to keep doing what we have to do and ensure we meet the milestones set for Meridian Network.
Talk soon!
The Meridian team
Twitter | Website| Telegram | Reddit | Contract | Discord | Github
