At 11:00 am (UTC +2) on Tuesday, April 30th, Effect.AI is opening its EFX Token Swap Portal, which will allow users to swap their NEP-5 EFX to EOS EFX. In February 2019, Effect.AI announced intentions to migrate to the EOS blockchain, citing “the current state of NEO is not up to speed with what we need to be able to build out our network.”
At time of press, Effect.AI reports the “EFX Token Swap Portal is now complete and is being thoroughly tested by the Effect.AI team and external parties.” The development team claims it sought to design a token swapping process that is “user-friendly and easy to use.”
Five days before the planned opening of the Token Swap Portal, Effect.AI aims to release videos and written tutorials, which will include detailed steps for swapping old EFX for new tokens.
EFX token holders are not able to swap their NEP-5 EFX for EOS EFX through exchange addresses. Therefore, Effect.AI urges token holders to transfer any NEP-5 EFX tokens from exchanges to private NEO wallets by Tuesday, April 30th.
The Token Swap Portal is tentatively scheduled to remain open to the public for 30 days. Following the closure of the portal, individuals who still hold NEP-5 EFX tokens may contact email@example.com to gain temporary access to the Token Swap Portal.
Exchanges that offer EFX trading expect to halt NEP-5 EFX trading either before or at the time of the launch of the Token Swap Portal. However, the four exchanges that list EFX have signalled their intent to allow users to withdraw the NEP-5 EFX. These exchanges are:
The full announcement can be found at the link below: