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Huobi Supports Mainnet Launch and ERC-20 tokens swaps

These days, mainnet is quite popular when some ERC-20 tokens on Etherium have built their own network. In this June, Tron (TRX) and Ontology (ONT) are going to switch to mainnet and require users to swap their ERC-20 tokens to their own native platform tokens.

Beside other exchanges, Huobi has announced that it will support token swaps of Tron and Ontology (like EOS).

What is mainnet swap?

Mainnet swap is known for transitioning from the Ethereum blockchain to its own network, and the token is transitioning from an ERC20 standard coin to a brand new coin. As TRX explanation, this process is like when a network takes off its training wheels and starts supporting itself.

The token swap is being done through exchanges. The holders need to make sure their coins are being held on participating exchanges by the deadline, and they will be automatically swapped out one for one.

If the users do not register, their coin may become useless. Huobi Pro supports Mainnet Launch and ERC-20 tokens swaps so it will be simple for investors.

Why you should deposit TRX & ONT onto Huobi Pro

Firstly, the tokens will be swapped for users more conveniently. If the ERC-20 TRX/ONT tokens are in Huobi Pro, then Huobi Pro will do the swapping of the new tokens for you. It is automatically operated by the exchange so users would have no worries.

Secondly, the tokens may be frozen in wallets until the mainnet switch, then they can be traded in Huobi Pro. If the token is in a wallet, you will not be able to move or trade them. That means, during the time of the mainnet lauching, the liquidity of the tokens in a wallet may be zero. This transfer of TRX & ONT from ERC-20 token to mainnet token may take longer than expected, so users will not be able to trade the token based on interim news. However, if they leave their token in Huobi Pro, then the users can still trade the tokens AND get the new issuance of the TRX/ONT tokens. That is cool, right?

About Tron (TRX)

As for Tron tokens, the token swap is supported forever by Tron foundation and exchanges unlike Block.one for EOS tokens who freezes all tokens after the mainnet launch.

The time frame for TRX Swap as following:

31 May 2018 – The switch begins: TRON starts migrating to mainnet. It will remain in beta for most of June, while developers work to make sure everything is ready.

21 June to 24 June – Token swap: This is when the old ERC20 TRON TRX coins are swapped out for the new mainnet TRON TRX coins.

25 June – Independence day: TRON mainnet goes live and operational with new tokens.

Some more info about TRX

TRON is one of the largest blockchain-based operating systems in the world. It ranks top 10 out of more than 1600 crypto currencies. With the circulating supply is 65,748,111,645 TRX on total 100 billions, its current price is 0.047 USD and the daily volume is about $204 million USD.

About Ontology (ONT)

ONT native tokens are also indivisible (the smallest unit is 1 ONT). If your NEP-5 ONT amount is not a whole number you must buy (or sell) some to round the number up (or down) before performing the ONT mainnet token swap manually.Thus, during the ERC-20 tokens swaps of ONT, you do not need to worry about such issues if your tokens are held in Huobi Pro.

The deadline for users to to complete the ONT swap: 00:00 (UTC+8) on October 1st, 2018.

Some more info about ONT

Ontology is a new generation public block chain project and a distributed trust collaboration platform. Ontology provides new high-performance public blockchains that include a series of complete distributed ledgers and smart contract systems.

It ranks top 20 out of more than 1600 crypto currencies. With the circulating supply is 151,292,175 on total 1 billion, its current price is 6.68 USD and the daily volume is about $95 million USD.

You can deposit TRX/ ONT into Huobi Pro now to get the most convenience.

 

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