30 Dec 2020
CS ERC-20 Token Burn Announcement
Dear Credits Community
As you know, after launching native CS coins we started the ERC-20 tokens swap. The swap was done via exchanges and manual instruction. The whole swap process lasted for almost a year and we are happy to announce that we have accomplished it now.
Below we summarized the statistics of the swap.
Exchange Token Swap statistics:
The approximate number of swap participants - 70,000
The total number of tokens exchanged - 101,5 mln
Manual Token Swap statistics:
The total number of manual swap participants - 1,706
The total number of tokens exchanged manually - 120,843,567
A final number of tokens swapped and not swapped:
Tokens swapped total - 223 456 423
Tokens not swapped and to be burned - 26 014 647
Despite the numerous reminders, not all tokens were swapped to coins. However, as we stated earlier the ERC-20 smart contract is blocked now.
Non-swapped tokens will be removed from circulation. The proportional number of CS will be taken out from the Credits blockchain.
Below you can find two ETH addresses where swapped tokens are kept:
How will we burn the tokens? We will send them to the wallet which doesn’t have keys. Tokens will stay there forever, as no one can get them from this address.
Here is the address of the wallet where we will be sending tokens unswapped:
https://monitor.credits.com/CreditsNetwork/Account/CSoooooooooooooooooooooooooooooooooooooooooo
We use in our burn practice the same approach as Ethereum has got. Just for your reference below is the Ethereum wallet with no entrance key. https://etherscan.io/address/0x0000000000000000000000000000000000000000
We wish you a happy New Year and are finishing 2020 with a token burn!
Stay tuned for further announcements!
