This article was first published on @iotex - Medium
It has been an exciting month since Mainnet Alpha went live! Over the past few weeks, we not only welcomed new Delegates and expanded to 18 Consensus Delegates, but we also built new user-friendly tools for the IoTeX community. In this blog post, we provide an overview of ERC20 vs. native IOTX and our current wallet tools to store, swap, and stake/vote your IOTX.
ERC20-IOTX and Native IOTX tokens
As we shared in our previous blog post, there are currently two versions of the IOTX token: ERC20-IOTX and Native IOTX. The value of these tokens is the same (1:1 swap), but they are currently used for different things:
- ERC20-IOTX: used for staking/voting on Ethereum. ERC20-IOTX has trading on Binance, Bittrex, Upbit, Kucoin, Gate, etc. for the past year.
- Native IOTX: used for txns and smart contracts on IoTeX Mainnet. This is a NEW token trading on PIEXGO (BTC, ETH, USDT pairs) as of May 22!
These two tokens will coexist for the next few months. In late Q3, there will be an official token swap via exchanges, after which the native token will be used for staking/voting, transactions, and smart contracts on the IoTeX Mainnet. Until then, we invite you to test and swap your ERC20 IOTX to Native IOTX before the official token swap, however it is not required. To swap Native-to-ERC20 IOTX, see these instructions and use our tool here.
We will launch ERC20-to-Native IOTX swap tools in our IOTX Wallets VERY SOON! To swap ERC20-to-Native IOTX manually, see the instructions below:
1️⃣ Record the private key of your ETH wallet holding ERC20-IOTX. Make sure this is NOT an exchange or hardware wallet — you must have the private key!
2️⃣ Send any amount of ERC20-IOTX to 0xB9071B7016d29B2672E3796A4c4f41838CBB6fc3 (swap address) and the same amount of Native IOTX will be sent to the corresponding IoTeX ...
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@iotex - Medium