TomoChain’s MainNet launch, and token swapping schedule.
To the TomoChain community,
TomoChain’s Mainnet will be officially launched on December 14th, 2018, 4pm Singapore time. Afterwards, ERC20 TOMO will migrate from the Ethereum blockchain to the TomoChain blockchain’s Mainnet and become native TOMO in a one-to-one ratio.
All ERC20 TOMO will be permanently frozen on December 18th, 2pm Singapore time. A snapshot of ERC20 TOMO will be taken at this time, and native TOMO will be distributed according to this snapshot. We aim to complete the migration by December 20th.
The period from December 14th, 4pm to December 18th, 2pm will be used for exchange and application integration. During this period, there will be a fixed five live full-nodes run by TomoChain. The normal process of initiating a MN candidate, voting for candidates, and staking will start right after the migration that starts on December 18th.
For exchanges that list TOMO:
We will contact all the current exchanges to coordinate the token swap so that token trading will be minimally disrupted. Exchanges can test TomoChain’s Mainnet between December 14th to December 18th, and switch to support the Mainnet on December 18th. After this — token trading, deposits, and withdrawals can resume immediately.
For TOMO Token Holders:
For the best and safest Mainnet migration experience, these are steps that token holders should follow:
- If you have tokens on one of the exchanges which supports TomoChain’s Mainnet, you do not need to do anything other than follow the exchange’s instructions.
- If you have tokens on one of the exchanges that does not support TomoChain’s Mainnet, you should withdraw your tokens to a compatible wallet that you own the private key for. NOTE: The Tomo mobile wallet will be able to be used for the token swap. The next version of the mobile wallet will be released on November 25th and after this date can be used to store ERC20 TOMO.
- If you do not hold your TOMO on an exchange, you need to have the private key of the wallet that holds your tokens. We will migrate all ERC-20 TOMO to the same address on TomoChain’s Mainnet which you can access using your own private key.
- If you currently have TOMO on a smart-contract address like multi-signature address, you need to move TOMO to a regular address that you own the private key before the token freeze date to support the migration.
The following exchanges have confirmed support for TomoChain’s mainnet:
1. When can I start running my masternode or staking using my TOMO?
As soon as you receive your tokens on TomoChain’s mainnet (after December 18th, 2pm Singapore time). By this time, the mainnet should have been stable for a few days. You can then use TomoMaster to initiate a masternode candidate, or vote for current candidates.
2. Can I keep my token in my Nano Ledger S?
Yes. Your private key inside your Nano Ledger S can be used to unlock a wallet in TomoChain’s Mainnet that stores TOMO after the migration. After Mainnet launch — use MyEtherWallet and choose TomoChain network to access your TOMO. https://medium.com/tomochain/using-your-ledger-wallet-with-tomochains-testnet-e8404e8e541e
3. What will happen to the current ERC20 TOMO?
ERC20 TOMO will be frozen permanently and obsolete after the token freeze date (December 18th, 2pm Singapore time) but it will not disappear. Issuance of the native TOMO will be based on the snapshots at the freeze date.
4. Does this process affect trading?
Trading should proceed with minimal disruption. Exchanges should test TomoChain’s Mainnet between December 14th, 4pm — December 18th, 2pm. After the token freeze date, TOMO deposits and withdrawals should occur on TomoChain’s mainnet.
5. Could I use IDEX exchange, or other decentralized exchanges after December, 18th, 2pm ?
NO. In fact, all the tokens on IDEX, or other decentralized exchanges would be obsolete after the token frozen date. You should withdraw your tokens to one of the wallets that you own the private key like Tomo mobile wallet before the token frozen date. There is no DEX that supports TomoChain’s Mainnet yet.
6. What will happen if I do not migrate my ERC-20 TOMO on time?
If you own your private key, you now own the same amount of TOMO on the Mainnet in the same wallet. If you have your token on an exchange that supports TomoChain’s Mainnet, you are also fine. Note: If you keep your tokens in a smart-contract address for which you do not own the private key, your tokens will likely be lost.
7. Which wallets should I use with TomoChain’s Mainnet?
You can use TomoChain’s official mobile wallet (android or iOS), or MEW (change network to TomoChain) for TomoChain’s Mainnet. There will be more wallets that support TomoChain’s mainnet in the future.
8. Could I lose my TOMO during the migration?
You will not as long as you possess your private key to ERC-20 TOMO, or have ERC-20 TOMO on an exchange that supports TomoChain’s Mainnet.