Sesameseed Blog
Published in

Sesameseed Blog

TRC10 SEED is Switching to TRC20 on TRON

Key Points:

  • The TRC20 SEED smart contract address is TBwoSTyywvLrgjSgaatxrBhxt3DGpVuENh
  • TRC10 SEED Holders on TRON will be automatically airdropped TRC20 SEED on or after August 11th 2020 (UTC) at a 1:1 ratio.
  • Conducting transactions with TRC10 SEED after 5:00 pm Pacific Time on August 10 2020 // 00:00:00 UTC August 11 2020 is not recommended and may result in airdrop discrepancies that could include a loss of SEED.
  • No actions by SEED holders are required.
  • SEED rewards will continue to be tracked on a daily basis.
  • This does not impact SEED holders on Ontology and Harmony.
  • After the airdrop, TRC10 SEED will no longer be eligible for redeem value or daily SEED rewards.
  • Only TRC20 SEED will be eligible for redeem or daily rewards.
  • TRC10 SEED will be delisted from exchanges and trading will resume with TRC20 SEED

Sesameseed prides itself on creating the very first token on the TRON network, demonstrating Sesameseed to be a leader and innovator in the blockchain space. While the TRC10 token, (token ID 1000001) holds sentimental value to the Sesameseed community, the time has come for SEED to evolve and utilize the TRC20 token standard.

Sesameseed will be introducing new products and services that will require the precision and smart contract functionality only accessible by TRC20 tokens. The ability to distribute fractions of SEED will enhance the compounding of daily rewards as a result of automatic staking.

The Sesameseed Announcements channel on Telegram is a great way to stay up-to-date on the coming airdrop and all Sesameseed news.

A snapshot of all existing SEED holders on TRON will be taken on August 11, 2020 after 00:00:00 UTC (after 5pm on August 10, Pacific Time). The change from TRC10 to TRC20 will be accomplished with a 1:1 airdrop to all those existing TRC10 SEED holders on TRON only.

Transacting with TRC10 SEED on TRON during the after the listed time until the airdrop is completed is not recommended and may result in airdrop discrepancies.

Please note — SEED holders on Ontology and Harmony will not experience any change or airdrop as those token standards are not changing.

No action is required by SEED holders. Holders will receive their TRC20 SEED airdrop by just holding their TRC10 tokens.

Every holder will receive an amount of TRC20 SEED in their wallet that is equivalent to the amount of TRC10 SEED they held at the time of the snapshot. From that point on, only TRC20 SEED will earn daily SEED rewards. After the airdrop, TRC10 SEED will no longer be tracked or recognized by Sesameseed. The airdrop does not impact the redeem value of SEED.

Sesameseed will be conducting tests with distributing the TRC20 token leading up to the airdrop.

Exchanges and Wallets

TRC10 SEED will be delisted from exchanges (TronTrade and Polonidex) and Telegram trading bots (Seedit, Nova) in preparation for the airdrop. Wallet users will need to add the TRC20 smart contract address to their preferred wallet to be able to immediately interact with TRC20 SEED. Some wallets may add TRC20 SEED automatically. Please contact your preferred wallet or exchange or Telegram trading bot with any concerns or questions.

Sprout and Daily Rewards Distribution

Sesameseed is committed to completing a seamless transition from TRC10 to TRC20 SEED, however some interruptions to current SEED utilities on TRON may be expected. The ability to swap SEED to or from the TRON blockchain, or redeem SEED from the TRON blockchain, within Sprout will be paused for a brief period until TRC20 compatibility can be achieved. As well, there may be delays in daily distribution of SEED rewards on TRON as Sesameseed looks to optimize the current distribution system for the new TRC20 token. It is possible the airdrop spans longer than 6 hours, in which case a rewards cycle would be missed.

Community members can continue to vote for Sesameseed with their TRX. There is no impact to TRX votes. SEED rewards will continue to be tracked on a daily basis.

Learn more about Sesameseed on our website. Connect with us on Telegram, Twitter, Reddit, Facebook, Instagram, LinkedIn, YouTube, and Medium.

Connect with Sprout on Twitter.

This article was updated on August 10 2020 to include the smart contract address for TRC20 SEED.

--

--

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store
Sesameseed

Sesameseed

697 Followers

This account is operated by Sesameseed to write articles about multichain staking and SEED. Learn more on our blog: medium.com/SesameseedOrg