Token Bridge - MTXLT (BEP2) to TXL (ERC20)

Dr. Maximilian Muelke
Feb 24 · 4 min read

To make it as easy as possible to swap/bridge from Tixl’s old MTXLT (BEP2) token to Tixl’s new TXL (ERC20), we are pleased to introduce a new token bridge.

Please find the guide below on how to use it.

How it works

  1. Go to the wallet where you hold your MTXLT
  2. Choose MTXLT and click on SEND
  3. Enter in the number of MTXLT you want to swap to TXL
  4. In the address field, type in this address: bnb19a0s6x7nqw570m5cqjyh6yx9k7yt70wtmjwalc
  5. IMPORTANT: You must add a MEMO and attach this Memo to the transaction. In the Memo, make sure you paste the Ethereum address (which can handle ERC20 tokens and TXL) you want your tokens to be sent to. Do not paste or type anything else as the Memo, just the address. Transactions with anything other than an Ethereum address, or an incomplete/wrong Ethereum addresses will fail, with an irrevocable loss of funds. Double-check that your Wallet provider supports ERC20 tokens and TXL (some exchanges support ETH, but not ERC20 tokens.).
Example: Memo Input Field from TrustWallet
Example: Correct Insertion of Ethereum Address in Memo Input Field

Delivery Time

You will receive 1,000 TXL for every 1 MTXLT you send through the bridge. The TXL will be delivered within 72 hours (we will process transactions in batches).

Costs for swapping/using the bridge

We will make swapping using the bridge Free of Charge until March 15, 2021. After this date, normal Ethereum gas fees will be deducted from the received amount for any amounts swapped. Currently, the fee per bridging is 10 TXL which is equal to 0.01 MTXLT. If you transfer an amount less or equal to 0.01 MTXLT, the tokens will be lost.

Hodlers Club Members

With the process above, investors from Tixl’s early ICO days who are still in the Tixl Holders Club should only use the bridge and swap to TXL (ERC20) if they want to leave the Hodlers Club. Club members can use this bridge to swap to TXL but, if they swap all of their tokens, they will no longer qualify as a member of the Hodlers Club. If a portion of tokens is swapped, the number remaining may mean that you drop down a level(s). For those Holders Club members considering swapping tokens now, please check how your status could be affected here.

As previously communicated, there will be a date when all Hodlers Club members will be able to swap their MTXLT to TXL without leaving the Club, but we will need to implement a change for you first. We will let you know when you can swap and still remain in the Hodlers Club - an explanation of how this will work will follow ASAP. When the time comes, the one-time swap will also be offered free of charge to all Holders Club Members.

MTXLT (BEP2) Supply

The Supply of our old MTXLT token will be burned until it theoretically reaches 0. We have already burned the majority of the MTXLT tokens. With every swap carried out, or with every MTXLT bridged over to TXL, respectively, we will burn that part of the supply. Why “theoretically 0”? This is due to the fact that some investors have lost their private keys, meaning those MTXLT are now inaccessible and will stay where they are forever with no chance of being accessed.

The Future is TXL

Photo by Drew Beamer on Unsplash

Finalizing the change from MTXLT to TXL means we have a clear direction forward. Having two tokens for the same project can be confusing, especially for new investors. In addition, having TXL as the sole token should have the added benefit of an increase in trading volumes. The change also allows exchanges, investors, and the market in general, to focus on the huge potential and opportunities the project promises.

We have made the swap as easy as possible by providing the new, easy-to-use, bridge and waiving the fees for a period of time. Please make sure you make the change as soon as possible to take advantage of the time-limited offer of a fee-free swap.

We remain committed to both maximizing the value of Tixl and minimizing the obstacles to adoption - having TXL as our standalone token is another step toward this goal.

Follow Tixl on all Channels to receive updates fast!

Website Links

Tixl

Connecting Blockchains

Tixl

Connecting all blockchains with smart bridging technologies & one scaling solution for all networks. $TXL.📍 Germany. Telegram: t.me/tixlorg

Dr. Maximilian Muelke

Written by

Chief Product & Marketing Officer @Tixl

Tixl

Connecting all blockchains with smart bridging technologies & one scaling solution for all networks. $TXL.📍 Germany. Telegram: t.me/tixlorg