A New Token Swap Support that is Available 24/7
Dear ICON Community,
As many of you know, ICON has migrated to its own public blockchain and swapped out the original ERC20 tokens (“ICO Tokens”) with its native ICX tokens through a token swap campaign in 2018. The ICON Foundation has continued to support token swaps for those who missed the campaign three years ago.
However, the current token swap process involves expensive ETH gas fees and is handled in a batch every several months, costing both money and time for many ICO Token holders. The ICONFi team aims to change that. In partnership with the ICON Foundation, ICONFi is developing an automated token swap system to handle all forthcoming token swap requests in a streamlined format.
For every ETH wallet holding ICO Tokens, a corresponding ICON wallet exists that the owner can access using his/her private key (“PK”) of the ETH wallet. ICONFi will be dropping “IOU” tokens into the corresponding ICON wallets that can be exchanged with the native ICX via ICONFi. This service will be available 24/7, and there is no need to wait for a manual swap process.
We will be providing a detailed guide to access your own ICON wallet with your ETH wallet PK when we are ready to launch the service publicly. The service is expected to open in April/May, so please stay tuned for more details.