PAL Network’s Token Swap Timeline
Dear PAL community,
Anticipation for our Mainnet goes off the charts by the day as we approach our official launch in just 3 days. PAL Network’s blockchain Mainnet will be officially released on 31 December 2018, the last day of 2018. Talk about ending the year off with a bang!
Here’s what you can do to prepare in advance of the launch. What you can find in this article is a schedule of important information and details you need to follow to swap your tokens.
As we are migrating from the Ethereum blockchain to our PAL Network’s Mainnet, PAL token holders are required to swap from the current ERC20 PAL tokens to our native PAL tokens in a one-to-one ratio.
Current Exchange Listing Partners:
We are working with our exchange partners to facilitate the token swap process for PAL token holders. Exchanges include Coinbene, KKCoin, Coinplug Digital Asset Exchange (CPDAX), MAX Exchange, Dobi Trade, Bittrex, KuCoin and UPbit.
Current exchanges supporting the swap (as of 14 January 2019):
Decentralised exchanges such as Kyber Network, DEx.top and DDEX are not supported. Token holders will have to withdraw their PAL tokens on these exchanges and manually swap the tokens from 14 January 2019 onwards via one of the methods as stated below.
For PAL Token Holders:
No action is required for users with ERC20 PAL tokens in any exchanges that supports PAL token swap, as the exchange will handle it for you.
Users holding their own ERC20 PAL tokens can choose to deposit their tokens into the supporting exchanges for the swap. Otherwise, users can manually perform the swap on PAL token swap platform, which will be released on 14 January 2019.
We will be sharing a complete token swap guide in the upcoming weeks, thus do join our Telegram group to receive first-hand updates on the token swap guide and more information on Mainnet.
Here are some frequently asked questions that you can read before our token swap guide is published. If you have more questions, feel free to direct them to our admins in our Telegram group.
Frequently Asked Questions (FAQs)
- When can I start running my Supernodes or staking using my PAL
From 14 January 2019 onwards, after the PAL Wallet is launched. The community can start running Supernodes by staking PAL through the PAL Wallet application.
2. Would there be a deadline to freeze all ERC20 PAL?
The expected deadline for Token Swap is set at March 2019 (estimated).
3. Can I store native PAL on Nano Ledger S?
More details and confirmation will be shared after we have done full testing on the devices.
4. What will happen to the current ERC20 PAL tokens?
Swapped ERC20 PAL tokens will be frozen in their allocated addresses. Any ERC20 PAL tokens that have not been swapped will be frozen after March 2019.
5. Which wallets can I use with PAL Network’s Mainnet?
You can use our official PAL Wallet, which will be available on both desktop and mobile app on 14 January 2019. Any new wallet support will be announced when more details are confirmed.
6. I still have tokens in my PAL Wallet for Token Shield and I do not have access to my PAL Wallet anymore. How do I retrieve my PAL tokens?
PAL Network will refund all the balance stored in the PAL Token Shield Wallet to the owners by 7 January 2019. PAL token holders can decide to either allocate the tokens to the exchanges that support the token swap (KuCoin, Bittrex, UPbit and Coinbene) or wait till the 14 January 2019 to manually swap to native PAL.
As PAL Network strives to ring in the new year with the Mainnet launch, our hearts are full from all the support received from the community. Stay tuned for more updates to come in the next weeks!
(updated on 7 January 2019)
About PAL Network
PAL Network is one of the fastest growing blockchain startup based in Singapore. The company built a dual-layered protocol for financial assets with the vision to build an ecosystem where individuals and partners can design and customise new financial products.
PAL Network designs insurance and finance solutions onto smart contracts within minutes. Through its APIs, PAL Network empowers its partners to cross-sell relevant insurance products at the point-of-demand, thereby bridging the gap between financial products and customer.
PAL Network is a member of Singapore Fintech Association and ACCESS. PAL Network’s affiliated entity, PolicyPal Singapore, has an active user base of 50,000 for its app, which helps users to manage, buy and optimise their insurance policies.
Currently, PAL Network has partnerships with insurance companies, FWD and Ergo, to explore potential use cases of our decentralised protocol together. Furthermore, we have also established collaborations with blockchain projects NEM, QTUM, Sentinel Protocol, MediBloc, Digix and traceto.io to offer CryptoProtect and mainstream insurance products for the projects themselves, along with their respective communities.
Learn more about PAL Network:
Telegram (Chinese): https://t.me/PolicyPalNetworkCN
Telegram (Korean): https://t.me/PalNetwork_KR
Blog (English): https://medium.com/@palnetwork_
Blog (Chinese): https://www.jianshu.com/u/04e398cadb84