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Author Topic: [ANN] Aion Network Announces Token Swap Details  (Read 392 times)
aion_network (OP)
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August 16, 2018, 04:56:07 PM
Last edit: August 16, 2018, 05:24:05 PM by aion_network
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 #1


Aion Network Announces Token Swap Details


Matt Spoke gives Token Swap Overview:
https://www.youtube.com/watch?v=Vxe71es5SPw

Official blog Post:
https://medium.com/@aion_network/introducing-the-aion-token-swap-134e31233d13

On April 25th, 2018 the Aion Kilimanjaro mainnet was released along with the launch of Aion mainnet coin and we are excited to be moving forward with the next stage of this release, namely the ERC-20 token to AION coin swap.

The AION coin is the native asset of the Aion blockchain (as outlined in our Whitepaper), which is utilized for critical network functionality and our crypto-economic mechanisms namely: peer-to-peer transactions, utilization of computational resources, rewarding network operators and ultimately a critical security mechanism for inter-chain bridging and our consensus roadmap

While Aion is not the first organization to be performing a swap, we have taken this opportunity to apply our engineering excellence and provide what we believe to be a first-of-its-kind technology. We will be using a trustless Token Transfer Bridge, which will facilitate the swapping of the ERC-20 Token to the AION coin without requiring any intermediaries.

In addition to the Token Transfer bridge we will be supporting the swap via traditional means of exchanges as described in more detail below.

IMPORTANT: The swap window will be between September and November, and we require all Aion ERC-20 tokens to be swapped for AION coins, as 1) the full supply of AION coin is necessary for the healthy operations and the crypto-economic design of the network, and 2) there will be no future utility for the ERC-20 token and consequently we will be removing support for the token at the end of November.

Next Steps:

Signup here: https://tokenswap.aion.network to receive future updates on the timing and details of the swap process. All updates will also be documented on official Aion blog: https://blog.aion.network/. We’ll be releasing full documentation outlining the process of the token swap in early September.


FAQ

How many AION Coins will I get for my ERC-20 tokens?

The swap will be done at a 1 to 1 rate, so you will receive 1 AION Coin for 1 Aion ERC-20 token.

Will the swap cost me anything?

Using our Token Transfer bridge there will be no cost for the swap, other than the Ethereum gas cost for the transaction. If you use an exchange there may be a small transaction fee for facilitating the swap. You will need to check with each exchange for their transaction fees.

How do I migrate my Aion ERC-20 Tokens?

There are two paths for managing the swap.

1) Exchanges — We are working with a group of global and regional exchanges to provide support for the swap across our diverse community. In the coming weeks we will be updating a list of our partner exchanges that will be supporting the swap. These exchanges will allow you to deposit ERC-20 tokens during the swap period and at conclusion you will be able to withdraw AION coins.

2) Bridge — You can access the bridge through our Bridge UI and wallet interfaces such as MEW, MyCrypto, Meta Mask, Coinomi and Jaxx. To create your new Aion public address to input into the Bridge UI, utilize one of the various Aion Coin supported wallets that will be available for the swap. From the Bridge UI and supporting tools you will be able to send your Aion ERC-20, check on the status of your bridge transaction and receive your AION Coins.

Why do I have to switch to the native coin?

The full supply of Aion coin is necessary for the healthy operations of the crypto-economics of the network, and 2) there will be no future utility for the ERC-20 token and consequently we will be end-of-life’ing the token at the end of November.

What if I don’t migrate?

If you do not to migrate and you hold onto your Aion ERC-20 tokens, your tokens will not be supported by the Aion Foundation, Aion Network, 3rd Exchanges or 3rd party Wallets.

How do I store and interact with my AION Coin?

You may store your AION Coin with any exchange or wallet which supports the AION coin. Follow our blog for news on any new third-party entities which offer AION coin support.

Why am I seeing dual AION listings on some exchanges such as Bilaxy.

Several exchanges will be hosting the new AION coin while simultaneously hosting the legacy Aion ERC20 coin. Although the legacy ERC20 token will no longer be supported by the Aion Foundation, Aion Network or any third parties it will still be present on exchanges for a short period of time. Over time — the ERC20 token will no longer be on exchanges and the only Aion asset listed on exchanges will be the AION coin.

Why is there a price difference between the Aion token and the AION coin?

Although there may be a small variation in price between the Aion Token and the AION coin in the short term, the Aion Foundation will swap at a 1:1 ratio. The Aion Token will have no value or utility after the swap is completed.

AION Coin Supported Wallets

Aion Desktop Wallet (Linux & Windows)

Coinomi (iOS & Android)

Ledger Hardware (Under Review)

Additional supporting wallets will be announced leading up to the Token Swap.

AION Coin Supported Exchanges

We are working with top exchanges to support the Aion token swap. All swap supporting and exchanges listing the AION Coin will be announced leading up to the token swap.

visit: http://aion.network

N2DCRYPT
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August 16, 2018, 07:59:09 PM
 #2

Have been following this project for a while now; I'll say that I've always been impressed with the candidness and openness from the videos I've seen of Spoke. Well-spoken (no pun intended) and frankly genuine about the state of the project.

The team has a pattern of under-promising and over-delivering, and on-time. While this has IMO led to this project flying under the radar while more overhyped coins garnered more speculation and FOMO, I'm confident the focus on fundamentals and development as opposed to marketing will bode well for AION's survival in the long-term, particularly in this bear market which will drive deeper analysis as to the quality of fundamentals of projects within this space.

The move to a non-profit structure as well as future disclosure of internal financials is encouraging to me as an investor that the team is open, honest, and serious about pursuing their goals of being a top player in the vital area of blockchain interoperability, and in a way that does not set up financial conflicts of interest between token-holders and project developers and other backers.

Congratulations on this first of many milestones for your team; looking forward to swapping my ERC-20 tokens for the real thing on the mainnet!
nickoarg
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August 17, 2018, 09:07:50 PM
 #3

Awsome news. Hope to see more bridges in the near future.

I understand that this bridge will be used as a template to develop other bridges, right? If so, when will the code be available?

thanks
Fu.Sin
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August 17, 2018, 10:38:31 PM
 #4

You wrote that you improved the coin. And what exactly was improved in it? Like, ERC-20 algorithm is already obsolete. Now doing on the 721 algorithm?

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August 18, 2018, 12:51:11 AM
 #5

+1 re token bridges. Is the current bridge a template for future bridges? In the future will I be able to send my Aion tokens to other blockchains?

IE: Run on AION, run on EVERYTHING?
Yashnik
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August 28, 2018, 05:34:54 PM
 #6

https://cdn-images-1.medium.com/max/600/1*dSy1F2YVMltCn6bnlO2N4w.jpeg
windave
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October 08, 2018, 11:46:28 AM
 #7

Hello from the BITBOX Team,

Due to popular demand, we are having a second round of AION swap bonus!

Swap your ERC-20 AION with AION Coins on BITBOX. Earn 5% on your holdings for the swap.
- Period: 8 October 2018, 02:00:00 UTC - 17 October 23:59:59 UTC

BITBOX provides a convenient way for AION holders to swap their ERC-20 tokens for AION Coins, while earning more AION!

Details:
1.Deposit your ERC-20 AION tokens on BITBOX (8 October 2018, 02:00:00 UTC - 17 October 23:59:59 UTC).
2.Snapshot of users' account balance will be taken on 18 October 2018, 02:00:00 UTC. 5% bonus will be applied to the balance amount captured in the snapshot.
3.For users that earned their AION bonuses during the first round, bonus given out this round will only be on new ERC-20 AION deposts between 8 October 2018, 02:00:00 UTC - 17 October 23:59:59 UTC
4.Maximum bonus per user is set at 1,000 AION.
5.No withdrawals of ERC-20 AION tokens will be allowed from 8 October 2018, 02:00:00 UTC - 18 October 01:59:59 UTC
6.In order to take an accurate snapshot, AION deposits will be suspended 2 hours before the snapshot (2018.10.18 00:00:00 UTC - 2018.10.18 01:59:59 UTC)

TERMS AND CONDITIONS FOR AIRDROPS

1. The AION Mainnet Swap Event 2 (collectively "AION Promotion 2") is organised by LINE Tech Plus Pte. Ltd. ("BITBOX"). Please read these Terms & Conditions ("Terms") carefully. By participating in AION Promotion, you agree to be bound by these Terms and all terms incorporated by reference. If you do not agree to these terms then do not participate in AION Promotion.

2. The promotion period covers 8 October 2018, 02:00:00 UTC - 17 October 23:59:59, and both dates are inclusive ("Promotion Period").

3. BITBOX reserves the right to revise these Terms at any time or withdraw AION Promotion at its own discretion and has the final say in the case of any disputes. If we make changes, we will post the amended Terms here.

4. To be eligible for AION Promotion 2:

(a) The user must be a registered user of BITBOX; and
(b)The user must have successfully completed the passport verification process by 17 October 23:59:59 UTC ;

5. Please also read the Terms of Service of BITBOX carefully, as the terms and eligibility requirements apply to all participants of AION Promotion 2

6. BITBOX reserves the right to reject any applicants if they fail to complete passport verification, or do not meet the eligibility requirements of BITBOX as set out in the BITBOX Terms of Service  or these Terms. BITBOX's decision will be final.

7. There are no fees associated with your participation in AION Promotion. You may only register for AION Promotion 2 once, and the registration is non-transferable.

8. Please read our Privacy Policy carefully.

9. BITBOX reserves the right to deploy AION in one round or multiple successive rounds at its own election. In the case of a multiple round airdrop, BITBOX reserves the right to modify, cancel, or restrict participation at any time. Neither the issuer of AION token (the "Issuer") nor BITBOX will be liable in the case of any delay.

10. Only 400,000 airdrops of AION will be distributed to BITBOX users on a first come first served basis.

11. BITBOX is not the issuer of AION token, and is not affiliated to the Issuer. The Issuer has gone through the listing review process of BITBOX and has not been listed on BITBOX by default.

12. BITBOX will not be liable for any issues, including technical faults of AION. BITBOX will not be liable in any way whatsoever in relation to any matters including but not limited to the technical functionality of AION.

13. Directors, officers, employees and agents of the Issuer and any of their respective parent companies, affiliate companies, subsidiaries and agents are not eligible to participate.

14. You may withdraw from AION Promotion 2 at any time by contacting https://contact.bitbox.me/

15. If you have any queries about AION Promotion 2, please contact https://contact.bitbox.me/

16. These Terms are governed under Singapore law and all disputes are to be resolved in the exclusive jurisdiction of the Singapore courts.

RISKS DISCLOSURE
1.Please read the BITBOX Risks Disclosure Statement  carefully.

2.Trading in digital tokens carries a high level of risk, and may not be suitable for you. When accessing the BITBOX platform, you should consider all risks in relation to the trading of digital tokens including but not limited to the risks listed in the Risks Disclosure Statement (knowledge risk, trading risk, market and pricing risk, liquidity risk, exchange risk, delisting risk, legal and regulatory risk, security risk, technological risk, other risks relating to trading activities).

3. BITBOX is not acting as your broker, intermediary, agent or adviser in any fiduciary capacity in organising the AION Promotion 2. You acknowledge that you are solely responsible for determining the nature, potential value, suitability, and appropriateness of these trading risks for you, and that BITBOX does not give advice (legal, tax, investment or other) or recommendations regarding digital tokens including the suitability and appropriateness of, and investment strategies for, digital tokens.
ens.
windave
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October 13, 2018, 10:09:10 PM
 #8

https://support.binance.com/hc/en-us/articles/360017910372

Fellow Binancians,

Binance would like to confirm support for the AION (AION) mainnet swap. Deposits and withdrawals of AION will be suspended starting from 2018/10/15 10:00 AM (UTC), at which point we will begin the mainnet swap process. We will handle all technical requirements involved for all users holding AION in their Binance accounts.

We will make a separate announcement after the mainnet swap is complete to notify users when deposits and withdrawals for AION (native coin) will open.

For further information, please refer to the official Aion Token Bridge and Swap — Live

Thanks for your support!

Binance Team

2018/10/13
Ribak1992
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October 13, 2018, 10:18:30 PM
 #9

very important announcement and im think those who do not fully understand how and what to do better transfer to one of the major exchanges where the token is traded and there they will do everything correctly. only by this method can you lose your money.
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November 27, 2018, 09:33:48 PM
 #10

The Aion Token swap is mandatory and will be ending November 30th!

Here's the latest on the Swap: https://blog.aion.network/final-week-of-the-aion-token-swap-debe7c53d32b
   
Exchanges Listing The AION Coin

AION Coin can now be purchased or sold on the following exchanges.

Binance — https://www.binance.com/en
BCEX — https://www.bcex.ca/index/coins
LAToken — https://latoken.com/
Dragonex — https://dragonex.im/en-us/
Bitfinex — http://bitfinex.com/
Kucoin — http://kucoin.com/
ChangeNow.IO — http://changenow.io/
Bilaxy — https://bilaxy.com/
Bitbox — https://www.bitbox.me/
Changelly — https://changelly.com/
VBTC — https://vbtc.exchange/
CoinBene — https://www.coinbene.com/
BitFinex — https://www.bitfinex.com/
EasyRabbit — https://easyrabbit.net/
BitForex — https://www.bitforex.com/
Wallets Supporting The AION Coin

AION Coin can now be held in the following wallets.

Aion Wallet — https://docs.aion.network/docs/install-the-aion-desktop-wallet
Ledger — https://www.ledger.com
Coinomi — https://www.coinomi.com/en/
Cryptocurve — https://cryptocurve.io/
Magnum — https://magnumwallet.co/
Vault (Beta)— https://vaultwallet.io/
AIWA Chrome Extension(Beta) — https://getaiwa.com/
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