Hey there, Kin holders! We have a piece of really good news to announce for those who want to seamlessly swap an old Kin ERC20 token to Kin Coin, the native asset of the Kin blockchain.
According to the Kin official blog, Kin Blockchain is a federated, decentralized blockchain based on the Stellar protocol, on which Kin will be bought, sold, earned, and spent. It provides the speed and scalability required for large scale consumer applications with millions of users, and the promise of security and stability that is the hallmark of decentralized blockchain technology.
Migrating fully to the Kin Blockchain eliminates the complexity of swaps, removes the confusion created by having two types of Kin tokens, and simplifies the integration process with both exchanges and consumer applications.
So how exactly to swap your ERC20 to the new Kin mainnet coin? Together with Kin Changelly prepared this step-by-step tutorial to make the process as seamless as possible. Have a read!
How to Swap your ERC20 Kin token to Kin Coins?
1. First of all, install a crypto wallet that supports Kin, such as Ledger, Atomic or a Freewallet.
2. Go through the kin.changelly.com and login/sign up (to do that you need only an email).
4. Enter your Kin Coin destination address and Memo.id (if provided) generated by the wallet from step 1 and click the next step.
5. Check the amount, the recipient wallet address and other information. Send your tokens to start the token swap.
6. Now send your Kin ERC20 tokens to us and wait for around 5–10 minutes. Your transaction status is shown in your transaction history along with other transactions made on Changelly.
7. Wait for the swap. The swapping process itself takes around 5 seconds (the rest of the time is taken by the network) and consists of three stages:
- Getting confirmation
- Exchanging ERC20 Kin to Kin coin
- Sending to your wallet
As the transaction is completed all the details will be viewed in the window like the one below. You can find your transaction on Blockchain by tapping “See transaction on Blockchain” button.
How does the swap process work?
When doing the swap you don’t do the exchange itself, hence no commission is charged for the procedure, other than the Ethereum gas cost for the transaction. In fact, you send us your Kin ERC20 token, we burn it and fill up your wallet with the same amount of native Kin coin. Changelly accepts tokens from any wallet that supports ERC20 such as Jaxx, Exodus or Myetherwallet, etc.
Pay attention that the swap window will be available between Marth 15th and June 15th, 2019.
About Kin Coin
Kin empowers consumer app developers to create deep engagement, increase retention, and drive sustainable revenue and growth as part of a comprehensive ecosystem in which everyone wins together. With easy-to-use blockchain tools and the security and speed of the Kin Blockchain, developers are able to harness the power of cryptocurrency without all the backend complexities of the technology.
Today, millions of consumers already have access to Kin through popular apps, like Kik, Perfect365, Tapatalk & Madlipz.
Changelly is a non-custodial instant cryptocurrency exchange. We act as an intermediary between crypto exchanges and users, offering access to 140+ cryptocurrencies. The company mission is making an exchange process effortless for everyone who wants to invest in cryptocurrency. Operating since 2015, the platform and its mobile app attract over a million visitors monthly who enjoy high limits, fast transactions, and 24/7 live support.
Changelly offers its API and a customizable widget to any crypto service that wishes to broaden its audience and implement new exchange options. Changelly partners with MyEtherWallet, Exodus, Binance, BRD, Edge, Coinomi, Trezor, Ledger, Enjin, Coinpayments, Huobi Wallet and other well-known players in the crypto industry.
To read more of this article please visit https://medium.com/@Changelly/kin-swap-tutorial-4c077627ddad?source=rss-ebc53b1925ab------2.