Bitcoin Forum

Zilliqa (ZIL)  is in the process of shifting to mainnet. Soon, ERC-20 ZIL Tokens on the Ethereum network will be frozen.

More here: https://www.hb-wallet.com/post/swap-your-zilliqa-token-or-lose-them-permanently

They will swap the token and then the team is not giving a chance for those who are not yet swapping their token to the main net? What a joke.
thank you very much for your link, it seems like I must visit telegram group directly to talk about that.

I guess this is a good reason to not hold altcoins, especially tokens. For example, any Bitcoin holder knows he can forget about crypto for a long period of time knowing his coins will always be there when he comes back. However, if he holds altcoins, particularly tokens, and he forgets about crypto for some time, there is a high risk that he misses one or two swaps and he can't get his new coins although those coins belong to him.

We can't hold token for long term, even some tokens such as erc20 token has contract period of 2 - 3 years. Time limited swap are tantamount to fraud or can be classified as cunning. Developers should value investors more, it seems that the developers just care about investors' money.

I am not a holder of Zilliqa token but it's good that you posted here in behalf of the team I have a bad experience where I am late in swapping my coin and losing all my tokens,that's the worse thing that could happen to you if you are a big holders of a coin where you forgot to swap.

I am grateful for this info, i have some portion of zilliqa in my portfolio.The info you save a lot of people like me who rarely follow up update of token switching to mainnet.

yes, it's like the team has ignored investors because if there are investors who don't know about this information and late doing it, then investors will lose their money only because Zilliqa token in Ethereum network will be frozen, so investors who do not swap will lose Zilliqa token permanent and of course this is not fair for people who have invested in Zilliqa project.

It is a good step from Zilliqa to make a time limited token swap? Many people bought Zilliqa in the biggest hype in 2017 and they left the market after a crash. Now they will loose all their tokens?  ::)

I think exchanges will help with this swap. If Binance or Bittrex announces support for the swap you can just send them there when the change happens.
That being said ZIL is getting murdered now vs BTC. Probably not a good idea to hold any.

yeah, i have few zilliqa on my ethereum address
and i never visit their telegram channel, so, this is really good informations for me
thanks to the OP, for sharing this news  ;)

Hmmm that's one of the main problem of token swap imo

Unlike stocks/share which the swaps are handle by brokers or etc
Coins have this problem
I mean one don't wanted to just lose the token because they didn't check on the news right?

If i wanted to go for a vacation for a year, i invest into something for growth
I came back and the coins became worthless?
Don't think it is a good approach
definitely there is something would be needed to done else the industry is just way too fishy

I've done it, it's really fast and easy. Just send our ZIL ERC20 tokens to ETH address (binance), they will swap automatically. Don't be late.

Nice update, some people lose funds when they hold tokens and don't swap before deadline when mainnet coin is launched. I'm holding some ZIL but on Binance and it will be swapped there automatically.  

I see nothing difficult in the team allowing people to swap whenever they want to. So many might not have this first hand I formation,  most especially those who are long term investors, who just invest and project a long term before checking what level or stage the project has reached.
I just feel this should be reviewed, to give room for more participants to partake in it, so as not to lose permanently.

I don't have ZIL but good that you have reminded folks here. Swap now while the devs haven't finalized the event.
But they are now requiring every holder for KYC which is quite of something new for a coin that will swap from erc20 token to mainnet.

That's a good thing to find ziliqa token going mainnet. This too a good asset that gave good return for the investors. Moving to the main net it will gain more value. As the market is in the down trend we can see this happen when the market is bullish. Does this swapping needs to be done with the tokens placed on exchange wallets.

What will happen to zil erc-20 tokens on exchanges ? How can we now when they will swap them , and maybe we can deposit our zil tokens onto exchanges and wait until swap will occur ? Where can I find out a list of exchanges where swap already done ?

Try to read the article on the link, maybe it can help you to answer all your questions.

We should be responsible in our assets. We should be always updated in what is happening in the assets we are holding so we don't end up losing our assets.