Back to all news
30.12.2020
News

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:

https://etherscan.io/token/0x46b9ad944d1059450da1163511069c718f699d31?a=0x46b9Ad944d1059450Da1163511069C718F699D31

https://etherscan.io/token/0x46b9ad944d1059450da1163511069c718f699d31?a=0x5f8cba9226cf1d6ce56c0bf819e9ed562ff489e5

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!


This site uses cookies in order to improve your user experience and to provide content tailored specifically to your interests. Detailed information on the use of cookies on this website is provided in our Privacy Policy. By using this website, you consent to the use of cookies. You can always deactivate cookies in commonly used browsers.