ICON (ICX) is gearing up for the token swap from ERC20 ICX tokens to MainNet ICX coins. The swapping will be done through the exchanges like Binance, Upbit, Bithumb and ICONex wallet.
The token will be swapped at 1:1 swap exchange rate that is, 1 ERC20 ICX token = 1 mainnet ICX coin. According to token swap schedule, ERC20 ICX tokens deposits to the exchange will take place until– June 20 for Binance at 09:00, UTC +9, for Upbit at 22:00, UTC +9, and June 21 for Bithumb, time to be announced.
ICONex Token Swap
For ICONex Token Swap, you need to create a wallet and send the ERC20 ICX tokens to the ICONex ETH wallet. You need to add ICX custom token to activate the token swap feature. Token swap submissions that are received before 09:00 (UTC +9) will be processed and distributed on the same day at 18:00 (UTC +9).
According to Medium, Mainnet ICON (ICX )coins will be available for trade only in exchanges that support Mainnet ICX. The report also mentioned that Mainnet ICX coins that are swapped using ICONex can not be traded right away in exchanges such as Binance, Upbit and Bithumb. They will be suspending ICX deposits during the token swap processing period. If you want to swap your tokens right away, use Binance, Upbit or Bithumb. All token swaps are to be done before the deadline. All the ICO (ICX) deposits and withdrawals from the exchanges will be suspended until the token swap process of the exchanges ends.
A mechanical engineer turned journalist, Shekar takes a keen interest in the study and analysis of cryptocurrencies and blockchain strategy. With the cryptocurrency world blooming in the recent days, he finds great interest in monitoring their growth and gathering every possible piece of information about them. He works as a crypto-journalist for the website Kranbitcoin.