A token swap, is the switching of digital tokens from one blockchain onto another blockchain. This usually happens when projects that utilize one blockchain (like ethereum) to facilitate funds, and then desire to move their tokens onto their own private exclusive blockchain as soon as the project’s mainnet has been launched.

Now, for an average long term investor, he buys to hold after hearing of how people hold tokens and after some years or months, they discover that their token value as gone up and then they sell for huge profits.

Most long term investors don't have that time and luxury to be lurking around telegram groups reading chats from admins and bot members. They buy like they would normally purchase shares and wait for it to go up in price while checking once in a while.

The moment a project announces a token swap, the long term investor is not aware of it because they likely don't know much about crypto stuff and don't hang around telegram groups. They just buy and hodl while hoping it moons later on. As a result, tokens are swapped and the investor ends up with losses for a project they believe was going to deliver profits for them. To make it worse, the project team will refuse to swap the investor's token after the deadline has passed.

This is sad as it effectively means you cannot be sure to buy tokens, hodl and go to sleep for 20 years, then wake up and meet it in huge profits. The project devs might have done a swap while you slept and you'd only wake up to meet a bag of worthless shit in your wallet.

If projects want to engage in a token swap, then it has to be done automatically and not manual as not every investor will be aware of the swap announcements.

If it has to be a manual token swap then they should leave the swap open forever so that investors can swap whenever they can do so and not forced to do so at a set deadline.

AML – Anti-Money Laundering
KYC – Know Your Customer

KYC and AML are terms used when a business or a project wants to identify and verify the identity of a client or customer. To verify identity, KYC checks may require an individual to submit copies of personal documents like National ID cards, International Passports, Drivers Licence, Utility Bills as well as a Selfie Image.

As a bounty hunter, I understand that cryptocurrency projects need to act in compliance with the government's financial policies where they use as their base of operations. Part of these financial policies usually require the implementation of KYC/AML processes for the investors who seek to purchase tokens or coins from ICOs or other token generation events. For investors to buy tokens they need to convert fiat to cryptocurrency and it is this main reason KYC checks come in to monitor and store data of investors participating in the sale as a move to control money laundering.

To this end, bounty hunters should have no business surrendering their personal documents since they receive tokens as payment for a service rendered and no transactions of fiat to cryptocurrency will be taking place on their part. In other words, hunters cannot be accused of money laundering.

If sending tokens directly to hunters will contravene the laws of the project's locality, then they should employ the services of a verified 3rd party escrow agent who can distribute tokens to bounty hunters at specified due date or just take the easy way out and pay hunters in another cryptocurrency like ETH or BTC.

This is just my personal opinion. Feel free to add your comments and suggestions.

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