Official IoTeX Token Swap Thread

Throughout 2020, IoTeX will complete the official token swap for IOTX-E (ERC20) to Native IOTX. This thread explains the overall process and the various options you have to swap IOTX-E to IOTX.

IoTeX Foundation Swap Tools

The IoTeX Foundation has built tools for anyone to freely swap between IOTX-E and IOTX.

:warning: Note: every Ethereum Address (“0x…”) has a corresponding IoTeX Address (“io…”) which shares the same private key ( see here ). Make sure you have the private key of the address you swap to! :warning:

Exchange Swaps

Exchanges are now performing official token swaps to Native IOTX. Swap schedules will differ by exchange – any IOTX-E held in exchange wallets on the announced dates will automatically be converted to Native IOTX.

Binance and Gate are also supporting ongoing token swaps – anyone can deposit IOTX-E (ERC20) to Binance or Gate, who will automatically swap to Native IOTX. For more information, please see the official announcements from Binance & Gate.

Existing IOTX-E Tokens Staked on Ethereum

After Mainnet GA, all existing staked IOTX-E on Ethereum will be automatically converted to IoTeX Mainnet. This process involves taking a snapshot of the voting smart contract on Ethereum and installing the snapshot to IoTeX. You do NOT need to unstake/restake your tokens.


Tracking the IOTX-E Burning Process

All IOTX-E will eventually be burned by the IoTeX Foundation. We have set up a “trash bin” address where all IOTX-E will be collected and subsequently burned. You can track it yourself here.

  • Exchanges have been instructed to send all swapped IOTX-E tokens to the “trash bin”
  • IOTX-E from the Foundation, Ecosystem, Community Rewards, and Mining Rewards buckets will be transferred to the “trash bin” in Q1 2020
  • IoTeX Foundation will burn 10% of total supply at a time by sending the tokens to a “zero address”

You may track the progress of IOTX-E burns here:

We will notify the community and post the transaction ID here each time a new burn occurs.


For more details, please see our blogs on this topic:

9 Likes

Thanks for a well job done :+1:

1 Like

Today, 2nd trench - 1,000,000,000 IOTX_E has been burned!

Burn #2 – Feb 4, 2020

3 Likes

Today, 3nd trench - 2,000,000,000 IOTX-E has been burned!

Burn #3 – tx1

Burn #3 – tx2

2 Likes

Today, 4nd trench - 2,748,188,685 IOTX-E has been burned!
In total, ~67.5% of total IOTX-E has been burned

tx1
tx2
tx3
tx4

5 Likes

Good work! IoTeX is going to be one of the most important project in the cryptocurrency world!

3 Likes

when it gonna to pump?