ICON has recently announced the schedule of ICX token swap. The token swap will be made through ICON’s exchanges (Biance, Upbit, Bithumb) and ICONex wallet.
The ICON Project (ICX) is an effort to devise a decentralized network that allows independent blockchains with different governance protocols to transact with one another without the interference of any intermediaries. The project is also going to increase the number of exchanges that will support the token swap in the future. An announcement for the can be expected for the same when ready.
I just published “ICX Token swap schedule announcement” https://t.co/4olPHaUtBs
— ICON (@helloiconworld) June 18, 2018
The value of ICX tokens has the market capitalisation of $800 million. The ratio of the exchange will be 1:1 where ERC20 ICX tokens will be swapped to mainnet ICX. Once the Ethereum tokens are swapped, they can't be converted back.
In the announcement, ICON stated that the swapped tokens will be burned (locked) and won't be used further and the burned ERC20 will not be in circulation anymore. It was also stated that the hardware wallet support for mainnet ICX is under development but the time of the launch is still uncertain.
The schedule, procedure (using exchange), and links to detailed guides are included in the official announcement.
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