Zilliqa (ZIL) is in the process of shifting to mainnet. Soon, ERC-20 ZIL Tokens on the Ethereum network will be frozen.
Zilliqa (ZIL) Tokens on the Ethereum Blockchain will be frozen due to the incident of Zilliqa’s mainnet. It means Zilliqa is moving out of the Ethereum network. So, it is very important for holders not just on HB Wallet, but also on other wallets to swap the remaining ZILs to the new tokens on the native Zilliqa network.
The rate of swapping will be 1:1. In addition, holders that joined the earlier token sale need to go through a quite strict KYC/AML procedure to reduce risks, and to enhance the security of the new native network. For further information, please check on the official website of Zilliqa.
The last day of the event has not been finalized, yet. It means there is still some time for holders to swap. Therefore, it is best to start the ‘token swap’ process from NOW. Please find the instruction below.
First, holders need to choose a compatible exchange. There are multiple exchanges that support the new ZILs, some exchanges that actively supports this event are Coinhako, Kucoin and Binance.
You can have a discount for trading fee on Coinhako through the ‘token swap’ process. Please check the end of this article.
Second, users need to create an account on a chosen exchange to start the transferring process. Please do not forget to enable 2FA on the new exchange for your own security.
Third, users can transfer the remaining ZILs on HB Wallet (or from other wallets) to the created account on the chosen exchange.
(*) Please read this instruction first before transferring. It is because the process is quite different between exchanges. For example, on Binance, users must generate an address for ETH, then send the old ZILs to that address. DO NOT use the Zilliqa receiving address; it is now used for the new Zilliqa.
It is also VERY IMPORTANT that users CANNOT send the old ZILs to a mainnet address. Otherwise, the remaining ZILs that sent to a mainnet address will be lost permanently.
Finally, users can withdraw the new ZILs from the chosen exchange after depositing the old ERC-20 ZILs. Users can withdraw to some supported wallets such as Moonlet, ZilPay, Zilet, ZHIP, or xZIL.
Disclaimer: Please be extra careful. If there is any mistake during the ‘token swap’, we cannot compensate. It is best to check for all the details from the official blog of Zilliqa before proceeding.
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