Wanchain ERC20 Tokens to Wanchain Mainnet Wancoins (“WAN”) Swap

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Wanchain

5 min readJan 29, 2018

Please note: WAN on Binance, Huobi and Kucoin (those exchanges listed on coinmarketcap) are the native coins. If you have purchased them on there you do not need to swap them.

1. Wanchain ERC20 Tokens

Wanchain completed its token sale on 04-Oct-2017 by issuing 51% of its total WAN supply at 880 WANs per ETH. Since the Wanchain Mainnet was not ready at the time, in accordance with the terms of the token sale, Wanchain issued Wanchain ERC20 tokens to all purchasers of the WAN directly from Wanchain during the token sale (the “Original Purchasers”) and delivered the Wanchain ERC20 tokens to the Ether wallet addresses provided by the Original Purchasers when applying for the WAN (the “Whitelisted Addresses”).

As provided for in the terms of the token sale, the Original Purchasers would be entitled to swap each Wanchain ERC20 token for one WAN after the launch of the Wanchain Mainnet at a time to be determined by Wanchain. Further, under the terms of the token sale, purchasers of WAN during the token sale were not allowed to sell, gift, or otherwise transfer their Wanchain ERC20 tokens to any person not an Original Purchaser, and only the Original Purchasers would be entitled to swap their Wanchain ERC20 tokens with Wanchain for WAN(*the amount of tokens swapped needs to match the original amount bought during the tokensale*).

Wanchain announced our Mainnet release on 18-Jan-2018 at the BTC-Miami conference.

Today, we’re happy to announce that we are ready to swap the Wanchain ERC20 tokens for WANs.

THIS IS ONLY FOR THOSE WHO PARTICIPATED IN THE WANCHAIN TOKENSALE IN OCTOBER. IF YOU HAVEN’T PARTICIPATED IN THE WANCHAIN TOKENSALE THEN THIS SWAP DOES NOT APPLY TO YOU.

In accordance with the terms of the token sale set out above, only the Wanchain ERC20 tokens that are sent to us from the Whitelisted Addresses or from a wallet address that is proven to Wanchain’s satisfaction is controlled by an Original Purchaser will be allowed to be swapped for WAN.

We understand that certain parties may have unknowingly or otherwise procured Wanchain ERC20 tokens not directly from Wanchain but directly or indirectly from Original Purchasers through channels such as EtherDelta. As mentioned through multiple avenues, such Wanchain ERC20 tokens may not be exchanged for WANs from Wanchain.

To summarize, there are three categories of Wanchain ERC20 token holders.

Category 1: Original Purchasers with Wanchain ERC20 tokens in their Whitelisted Addresses (this also includes Pre-Sale).

If you fall within this category, you will only need to follow the Coinswap Instructions below to exchange your Wanchain ERC20 tokens for WAN. After completing the necessary steps in the instructions, and upon completion of our automated verification, you will receive your WANs in 1–5 business days.

Category 2: Original Purchasers whose Wanchain ERC20 tokens are not in their Whitelisted Addresses

If you fall within this category, you will have to go through a KYC process to verify that you are an Original Purchaser and that your Wanchain ERC20 tokens are in a wallet address controlled by you. You will need to complete the KYC form at the link below and submit the requested information. If your identity is successfully verified by Wanchain, you may follow the Coinswap Instructions set out below to exchange your Wanchain ERC20 tokens for WAN. After completing the necessary steps in the instructions, and upon completion of our automated verification, you will receive your WANs in 1–5 business days.

https://kycwanchain.wufoo.com/forms/wanchain-kyc-form/

Category 3: Holders of Wanchain ERC20 tokens who are not Original Purchasers

If you fall within this category, you will not be able to exchange your Wanchain ERC20 tokens for WANs. We will provide an update after the legitimate tokens have been swapped.

2. ERC20 Token Swap Process

Video

Here is a 3-minute video of the entire process from beginning to end. Please familiarize with the process. Detailed instructions are listed in the next section.

Instructions

The steps to swap the ERC20 tokens are:

Install the Wanchain Wallet and create an account.

a) For instructions, please visit https://github.com/wanchain/go-wanchain/wiki/Getting-Started-with-Wanchain-Wallet

[What is the Private address?]: The longer address below the public address is the Master Stealth Address NOT the account private key. Your private key is encrypted in the keystore. You must make a backup of the keystore and remember your password in order to recover your account later.

[What happens if I lose my Wan Wallet password?]: You will not be able to retrieve your native Wancoins. Remember to save your password and backup your keystore.

[Can I transfer the native Wancoins from my Wan Wallet to an Ethereum address?]: No. Native Wancoins are not ERC-20 so are not compatible with ethereum addresses.

2. Visit Wanchain’s swap site (https://swap.wanchain.org) and fill out your information.(**Please note**:This is the only official Wanchain swap site. Be careful of phishing sites!)

If you need to add the ERC20 tokens on MEW again please use the following information from the tokensale:

Token Contract Address:
0x5Fc6DE61258e63706543bb57619b99cC0E5a5A1F

Symbol: WAN

Decimals: 18

a) Please note that the swap site will generate a unique Ethereum address where you will need to send your ERC20 token.

3. Send your ERC20 tokens to the address specified by the swap site.

UPDATED DEADLINE: 2 weeks after the official release of the Wanchain Ledger app. See this article for more details: