New Kind of Network (NKN) token holders have only a few weeks left to swap NEP-5 tokens for ERC-20 tokens. The deadline for the token swap is 11:59 pm (UTC) on Thursday, March 28th.
Any remaining NEP-5 NKN tokens after March 28th will be permanently locked and kept out of circulation.
As of March 11th, NKN reported 127 million NEP-5 NKN tokens (out of a total of 350 million circulating tokens) have yet to undergo the ERC-20 token swapping process.
NKN claims they are enforcing the 100% ERC-20 token swap to “reduce user confusion, reduce exchange complexity, and improve token liquidity.”
Users who hold their tokens on the Gate.io or Bilaxy exchanges do not need to do anything to swap tokens.
Users of Switcheo, LaToken, BCEX, or Bitrue must withdraw “NEP-5 NKN tokens to [their] personal wallet and use [NKN’s] official token swap web tool to swap before deadline.”
Further information about the official web swap tool can be found at the link below:
https://medium.com/nknetwork/guide-nkns-official-token-swap-web-tool-375c5c48a87a
NKN advises users who have already swapped their NKN NEP-5 tokens for ERC-20 tokens need to take no further action.
Find the full article link at the following link:
https://medium.com/nknetwork/final-push-for-nkn-token-swap-f4160f189d2a
About The Author: Dylan Grabowski
Dylan is a reformed urban planner with a passion for covering the Neo ecosystem. His objective as a writer for Neo News Today is to report news in an objective, fact-based, non-sensational manner. When not behind a computer screen, he can be found in the mountains rock climbing. Find Dylan on Twitter (@GrabowskiDylan).
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