After the successful launch of the Ultra Mainnet in June, the time has come for users to access the Ultra Wallet! The wallet-only client is available to download here and you’re now able to create an Ultra account, secure your username, access your wallet, use your referral link, and swap your UOS ERC-20 tokens to our UOS native blockchain.
Now that you have a first glimpse into Ultra’s ecosystem, we’d like to walk you through the token swap process in detail.
The Token Swap Explained
With the release of the wallet-only client, we can now officially begin the swap from ERC-20 UOS to the native token of the Ultra platform. There is currently no requirement to swap your UOS tokens.
Let’s take a moment to talk about P.network and explain how the swap actually works.
P.network has deployed a vault contract on Ethereum which acts as a bridge between the two networks. On Ultra’s Mainnet, there is a pUOS contract and our ultra.swap contract. These finish the bridge onto our network and ensure that the process is decentralized, automated, and secure.
Moving your tokens from Ethereum to Ultra’s Mainnet is called a peg in.
The swaps are bidirectional, allowing you to hold native tokens and still take part in liquidity and staking programs on Ethereum if you so choose.
The swap back, called a peg out, from Ultra’s Mainnet to Ethereum incurs a 0.25% swap fee, which is used to pay the validators on p.network’s decentralized swap network.
Ledger Support for Large Token Holders
As we extend support for hardware wallets and allow you to create Ultra blockchain accounts with them, we’ll encourage large token holders to migrate to our network. Until then, we strongly recommend that you wait to perform your token swap.
Exchanges and Automatic Swaps
If you hold tokens on a partner exchange, there is no need to perform a manual swap. Your exchange will handle this for you. As each partner exchange performs the swap, we’ll make sure that the community knows about it. Until then, hodl tight!
The Ultra Client and Manual Swaps
Ultra’s wallet-only client contains the wallet application with which you can create your Ultra account for free, send and receive UOS tokens, and perform bi-directional token swaps between Ethereum and Ultra’s blockchain.
Let’s get started with the Ultra Client
You can download the wallet-only client from here. You’ll need to install it and create your account. The process is standard, but if you run into any problems you can reach out to support@ultra.io and we’ll assist you.
Simple guide — How do I swap tokens on the Ultra client?
- Log into your Ultra account and head to the Ultra Wallet application
- Click on the Token Swap section
- Copy the swap URL that is provided and paste it in your browser
- Once you’re redirected to the Dapp, provide the Ultra Wallet address you wish to swap tokens on (this can be found in your Ultra Wallet)
- Sign your Ethereum transaction with your Ethereum wallet
And that’s it, you’ve successfully swapped your tokens! They will appear in the Ultra Wallet you sent it to within 20 minutes of completing the process.
FAQ
What do I need to do now?
Download the wallet-only client now! You’ll be able to create your own Ultra account, reserve your username, access your wallet (referral link and wallet ID), and swap your tokens.
Do I have to swap my tokens?
No, you currently don’t need to swap your tokens. We designed our native chain to provide users and developers with an experience that aligns with Ultra’s fundamental goals. However, we know Ethereum is a popular public chain and has its advantages so we’ve bridged the two ecosystems through a bi-directional token swap function. This allows users and developers the choice to swap tokens with the convenience to do this quickly and easily.
I have a lot of UOS tokens, should I swap my tokens now?
We recommend token holders to wait until we finish Ledger hardware wallet integration.
Our “easy blockchain account” (EBA) protocol, the software-based secret key recovery mechanism that doesn’t require a Ledger, will receive a security improvement update in the coming months and will make its usage extremely safe. Until then, we recommend users to not hold large amounts of tokens on the mainnet.
Are exchanges supporting the swap?
Users who hold tokens on a partner exchange don’t need to manually perform token swaps as your exchange will do all of that for you. We’ll keep you the community updated on when each partner exchange will do this.
What are the token swap parameters and fees?
Currently, you can swap a minimum of 50 UOS per token swap transaction. Swaps from Ethereum to Ultra are free besides the GAS fee so we advise you to have -0.01ETH available for it. There are no GAS fees when swapping from Ultra’s Mainnet to Ethereum but you’ll incur a 0.25% swap fee.
How do I view transactions on the Ultra blockchain?
All transactions relating to the token swap are stored on the Ultra asset chain. You can view all transactions on our block explorer.
What does having access to the wallet-only client mean?
The wallet-only client is technically the real Ultra client but it comes with limited app access. Anyone using Windows can download the client here, create an account, and gain access to an Ultra Wallet. This means you’ll have your own unique referral link that you can share with your friends and will be able to swap your tokens. You won’t need to ever make another Ultra account or download another version of the Ultra client, it’ll automatically update when other apps, such as Ultra Games and the NFT Marketplace, become available to the public.
Can I see how many people have used my referral code?
Currently, you won’t be able to see how many people have signed up using your referral link. This will be added to the Ultra Wallet section in an upcoming client patch.
What are our official communication channels?
Website: https://ultra.io/
Telegram announcement channel: https://t.me/Ultra_ann
Telegram channel: https://t.me/ultra_io
Twitter: https://twitter.com/ultra_io
Facebook: https://www.facebook.com/gaming/ultra.platform
LinkedIn: https://www.linkedin.com/company/ultracorp
YouTube: https://www.youtube.com/channel/UCkYmCuZkV0ogKGj5l7IV1eA
Discord: /discord.gg/em9GJmD3tN
Ultra Client live status page: https://ultra.freshstatus.io/
About Ultra
Ultra is the first entertainment platform that is powered by blockchain technology and provides all key games industry services under a single roof. With just one login, discover Ultra Games, Ultra Wallet, the NFT Marketplace, third-party apps, and more.
Ultra Games, our games distribution platform, will give you access to countless centralized and decentralized services. Discover, buy, play, and sell your games, in-game items, and user generated content. Watch livestreams and get rewarded for your participation. Compete in tournaments and contests and win NFTs and other prizes that are yours to truly keep or resell on the marketplace.
Ultra is being built to merge the gaming and blockchain worlds in a way no one has seen before.
For more information, visit ultra.io. Stay up to date on our main Twitter account, our gaming Twitter account, and Telegram.
