Dear Eidoo community, we would like to clarify how you would go about claiming your actual WLO Token (which is issued on the Stellar blockchain, and will be listed on Bitfinex imminently), and to address some questions we know the community has.
Wollo (WLO) is a Stellar Token, not an ERC20 Token… so why have you issued an ERC20 Token?
So why have we issued an ERC20 token you ask? As per our Whitepaper,and all communications to date, you will have seen that Wollo is a Stellar based token. However, Eidoo and ICO-Engine do not yet support Stellar based assets on their platform. In order to run our ICO through Eidoo and ICO-Engine, we therefore created an ERC20 Token, destined for an automatic swap within the Pigzbe App (iOS, Android), which would then give you access to your actual Stellar Wollo (WLO) Tokens.
This procedure was clarified ahead of time with all parties involved in delivering the ICO, and something we have been transparent about from the beginning, as per our ICO and token saleguide published on 19th July 2018. Furthermore, the process for token claim is also transparently visible from our public Git-hub repository, which is open for public inspection and feedback.
Please be aware that the ERC20 Wollo (WLO) Token you hold can only be used in the Pigzbe App for you to claim your Stellar Wollo (WLO) Tokens. Your ERC20 Wollo (WLO) Token has no value outside of the claiming mechanism.
I’ve downloaded the Pigzbe App to claim my Wollo (WLO)… why are you asking for my seed words?
The process allows for the app to automatically destroy the ERC20 Wollo (WLO) Token you have purchased, and issue in return the actual Stellar Wollo (WLO) Tokens inside the wallet in your Pigzbe App. The reason your keys are required, is to:
- verify that the transaction is coming from a legitimate Eidoo / ICO Engine account that is verified as having completed KYC/AML for reasons of compliance.
- certify unequivocally that the person requesting Wollo (WLO) is signing the transaction that burns the ERC20 token and exchanges it for Stellar Wollo (WLO) tokens.
How do you guarantee the seed is not stored or held in a database by Pigzbe?
We would like to start by pointing the community to Pigzbe’s public GitHub repository, where limited use and accessibility of one’s seed can be verified. We invite anyone able to confirm what we claim to inspect our codebase and please provide any feedback if necessary. We run an open and transparent service and take trust and security seriously.
To further stress this crucial point. At no time during the claim process, or after, does Pigzbe store or keep a record of an individual’s private keys.The seed is simply used to sign a transaction, and verify the identity of the individual claiming their Stellar Wollo (WLO) Tokens, but we understand that for some, you may not feel comfortable with claiming your Wollo this way.
What happens if I don’t wish to claim my Wollo (WLO) using the Pigzbe App?
For those who have already followed the process set out in the Pigzbe App you can rest assured that your seed has not been recorded or stored anywhere else. You will have full possession of your Stellar Wollo (WLO) Tokens for you to manage as you please.
For those who have not claimed yet, but are comfortable with the above information, have inspected our GitHub repository, and are now confident in proceeding with the claim process set-out in our guide, your Wollo (WLO) will be distributed in real time, as you go through the process and claim your Stellar Wollo (WLO) Tokens.
For added comfort we would advise Eidoo members to take the following actions if necessary:
- Prior to claiming your Wollo in the Pigzbe App (iOS, Android), transfer all other assets in your Eidoo wallet to a different Eidoo Wallet, ensuring only your ERC20 Wollo (WLO) Token and some ETH to cover transaction fees ($1 will be enough) is left in the wallet you originally used for the purchase of Wollo (Please note that only the wallet you used for the purchase of Wollo will be recognised by the Pigzbe App).
- Follow the process highlighted in the Pigzbe App and Wollo (WLO) claim guide, and once complete, ensure you do not use your Eidoo wallet which you used to purchase the ERC20 Wollo (WLO).
- Do not re-use the Eidoo Wallet you have used to claim your Stellar Wollo (WLO) Tokens inside the Pigzbe App if you have any concerns about having used your Private key with the Pigzbe App, even though as stated above we are only using it to sign the transaction.
If you are not comfortable with using your private key in the Stellar Wollo (WLO) claim process inside the Pigzbe App we will be working with the Eidoo team to implement an alternative way to process your claim. The Eidoo and Pigzbe team are working as quickly as possible to provide an alternative but at this time we are unable to provide a delivery date for this new solution.
Please do not hesitate to contact either us, or a member of the Eidoo team in either of our Telegram groups.