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:
NKN advises users who have already swapped their NKN NEP-5 tokens for ERC-20 tokens need to take no further action.
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