Theta Labs
Feb 23 · Unlisted

We are getting close the Theta mainnet launch on March 15th, and with it the swap from ERC20 (Ethereum) Theta Tokens to native Theta Tokens on the Theta blockchain. To make sure that you receive your Theta Tokens on the mainnet as well as the 1:5 distribution of Theta Fuel, download the new Theta wallet for Android OS or Apple iOS and move your tokens there.

The procedure to swap your existing tokens is simple:

  1. Download the Theta wallet
  2. Follow the in-app instructions to set up your wallet and record your mnemonic phrase
  3. Transfer your ERC20 Theta Tokens to the Theta wallet (make sure to send a small test transaction first!)

On March 15th, after the genesis block of the Theta blockchain is produced, you’ll see all of your ERC20 tokens converted to Theta mainnet tokens. Additionally, you’ll see that your address contains 5 Theta Fuel for each Theta Token you hold. Your address, token balances, and any transactions will be verifiable in real-time on the Theta mainnet block explorer.

To determine the Theta Token holders to receive native Theta tokens and the 1:5 Theta Fuel distribution on the new blockchain, we will be taking a snapshot of the Ethereum blockchain at approximately March 12th, 12pm (Noon) Pacific Daylight Time (UTC -7). In the week prior to the snapshot, we will announce the exact Ethereum block height at which the snapshot will be taken.

We are also working with the exchanges that currently list Theta and major hardware wallets like Ledger/Trezor to support the Theta mainnet and token swap, including Theta and Theta Fuel tokens. However, those integrations are not totally within our control, and we can’t guarantee they will be ready in time for the mainnet swap. To prepare for the swap, we recommend that all users transfer their Theta Tokens into the Theta wallet by March 10th to be safe. If you have not transferred your tokens to the Theta wallet before the snapshot happens, we can’t guarantee an immediate swap to the new Theta blockchain. Understandably, our team will be focused on making sure the first days of the Theta blockchain are running smoothly, and it may be some time before we have the resources to address individual cases of manually restoring Theta Tokens to the new blockchain.

We’re excited to take another step toward the Theta mainnet launch on March 15th! If you have any questions or concerns about the token swap or otherwise, please join us in our Telegram channel here: https://t.me/thetanetwork

Regards,

The Theta team

Theta Network

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Theta Labs

Written by

Creators of the Theta Token and Network — see www.ThetaToken.org for more info!

Theta Network

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