Adding PegNet’s pAssets to Ethereum
Bootstrapping Pegged Assets on ERC20
TL;DR -PegNet pAssets Are Now Live on IDEX
There are now ERC20 wrapped versions of the PegNet pAssets. These can be purchased on IDEX (by non US people) then transferred & stored on any Ethereum wallet that supports ERC20. You can NOT yet deposit ERC20 versions of pAssets onto the PegNet wallet or exchanges that do not support ERC20 pAssets. This and other upgrades are under development, follow along on the PegNet Discord in the “Project Titan” channel. If you want to apply to convert pAssets into ERC20 versions or ERC20 versions into native pAssets please email: FWE@Factom.com
Why Add ERC20 Versions?
Most of the cryptoverse today uses Ethereum infrastructure. Wallets, exchanges, custodians, most tokens and so forth are largely built on the ERC20 rails. For pAssets to gain mainstream adoption getting them on these rails is an important milestone.
First Step, A Manual Gateway
One of the community members of PegNet “FWE” (a Wyoming based entity) has written an Ethereum Gateway Smart Contract and had it audited to take in native pAssets and generate matching ERC20 wrapper pAssets.
In order to keep things simple during this boot strapping process, FWE is conducting this as a manual process where by it holds it’s own pAsset tokens and issues matching pAssets ERC20 tokens and lists them on IDEX.
OTCs, exchanges, or professional traders are welcome to email FWE@Factom.com and apply to use the Gateway when it becomes available for additional parties. This will be a KYC and AML compliant process.
You Bought pAssets On IDEX, Now What
The ERC20 version of PegNet pAssets works like any other Ethereum token. They can be sent to and securely stored on Ethereum wallets, exchanges and other software / websites that support ERC20 tokens.
You can NOT yet deposit ERC20 versions of pAssets onto the PegNet wallet or exchanges that do not support ERC20 pAssets (currently only IDEX).
Next Step PegNet Support for Ethereum Signatures
If you have been following along with the PegNet community on Discord “Project Titan” is working to add Ethereum’s signature type to the PegNet software. When this launches in the coming weeks users will be able to store both Ethereum based assets and PegNet assets both in their PegNet wallet with the same private key. Along with this there is work to be done on an automated Gateway that will make the process easier to convert native pAssets to the ERC20 wrapped versions.
Stay tuned for more details and announcements on the PegNet Discord in the “Project Titan” Channel: https://discordapp.com/invite/Xz2ZN6p
