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The exchange of tokens starts at 800 million dollars

It will pass precisely 24 hours, starting today.

20.Jun.18 1:58 AM
By Jason Brideslow


The exchange of tokens starts at 800 million dollars
Today, investors will exchange their ICX tokens based on Ethereum. ICON, launched in 2017, seeks to connect independent communities of detainees, each with its management proposals, to the managing basis of the detachment. built on the protocol loopchain.

ICON sold 50% of its ICX token for an idea on sale in September last year, earning 150,000 ETH worth about $ 42,750,000. In January of this year, the project launched a blockchain, and, according to CoinMarketCap, it has a collective market capitalization of approximately $ 800 million.

However, investors still have to issue ICX tokens. Thus, the ICON exchange will be realized at the exchange rate of 1: 1 (1 ICX ICEX token for 1 ICX ICANN coin) through the ICONex purse from June to September 25, as well as through support exchanges. According to ICON, users will be able to transfer tokens to Binance and Upbit until Wednesday, and until Thursday on Bithumb - only three trades will support the swap.

If instead of using the ICONex purse, the token holders want the exchange to perform the migration process, ICON recommended that users have approximately 0.002 ETH in their ICX-ethereum purse to pay the transaction.

After the ethereum tokens are replaced with ICX-coins, collection tokens will burn, and those that do not make a swap will be blockchain until the end of this stage. This is done to prevent further use of tokens.

Unlike other projects, such as EOS, ICON decided to conduct a token replacement after launching its network. The project said during the launch that it plans to postpone the swap projected for March in the project's roadmap until it releases its purse. However, by early April, the project had not yet announced the date of the swap, and then apologized for what he called "a lack of communication leading to confusion in the community." Besides, the project encountered some technical difficulties.

On June 16, ICON's smart contract found an error that allows any user, except for the developer of an original deal, to disable the transfer of tokens. Although the developers solved the problem on the same day, many users did not interfere.

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