Theta Mainnet Launch and Token Swap FAQs
To help keep the Theta community up to date on what’s happening with the mainnet launch, token swap, and Theta Fuel distribution we’ve compiled all the info you’ll need in these short FAQs. These will be continually updated with further developments and questions from the community. You can also find us on Telegram and Twitter with any questions.
When will the Theta mainnet launch?
The Theta mainnet will launch on March 15th, 2019.
How do I swap my ERC20 Theta Tokens to the mainnet?
You will need to transfer for your existing Theta Tokens to the Theta wallet, available for web, Android OS and Apple iOS. (Make sure to download directly from these links! You don’t want to fall for a fake wallet from a scammer.) Once your tokens are safely stored in your Theta wallet address, you’re all set. After the mainnet launches, you’ll see your ERC20 Theta Tokens replaced with Theta Tokens on the mainnet. The cutoff for transferring your tokens will be when we snapshot the Ethereum blockchain at approximately March 12th, 12pm (Noon) Pacific Daylight Time (UTC -7). The exact snapshot of the Ethereum blockchain will be taken at Ethereum block height 7,356,258. You must transfer your Theta Tokens before that time! We recommend you do so as early as possible. You don’t want a last minute situation preventing you from transferring your tokens. Also keep in mind, many exchanges have daily withdrawal limits that may prevent you from withdrawing all your tokens in a single day.
What exchanges are supporting the Theta mainnet and token swap?
We are working will all the major exchanges that currently list Theta Token to support the mainnet and token swap. So far, Binance, Huobi, DigiFinex, UPbit, Bithumb, OKEx, and Gate.io have confirmed their support for the mainnet and token swap. We will continue to update the community with any news regarding exchange support.
Will Nano Ledger or Trezor support the Theta mainnet?
We are also working with the major hardware wallet manufacturers to support the Theta mainnet, but can’t guarantee this will be completed in time for the token swap. We will update the community with any news on this front.
None of these options work for me — will I lose my tokens when the mainnet comes?
Definitely not! As long as you control the private keys to the Ethereum address holding your Theta Tokens, there will be a way to recover your tokens to the Theta mainnet. This is because the Ethereum blockchain and the Theta blockchain both use the same hashing algorithm, a variant of SHA-3.
What is Theta Fuel?
Theta Fuel (TFUEL) is the operational token of the Theta protocol. TFUEL powers on-chain operations like payments to relayers for sharing a video stream, or for deploying or interacting with smart contracts. Relayers earn TFUEL for every video stream they relay to other users on the network. You can think of Theta Fuel as the “gas” of the protocol. At Mainnet launch on March 15th, TFUEL will be created as a native token on the Theta blockchain. For each THETA that you hold in your Theta wallet when the mainnet launches, you will also receive 5 TFUEL in your Theta wallet. Theta Fuel will be traded on exchanges. For more information about Theta Fuel, check out this blog.