Dear BOLT Community
Frequently Asked Questions Regarding our SWAP Process:
In line with our strategy this year to consolidate and grow liquidity options for the BOLT token, the team will start actions listed below to consolidate and chart our new journey forward for the BOLT Token ecosystem. This will begin through our new contract issuance of BOLT ERC-20 tokens, which will be the default token traded on Bitmax and KuCoin.
We will release the new BOLT ERC-20 contract together with the swap timeline this week.
If you stored your BOLT BEP-2 Tokens on BitMax and KuCoin:
No action is required from people who stored their tokens on Bitmax and KuCoin. Your BOLT tokens will be automatically swapped to the new ERC-20 BOLT issuance with the new contract.
We have already contacted Bitmax and KuCoin to pause trading, deposits and withdrawals so that we can swap out the trading BEP-2 tokens for the new ERC-20 tokens.
What happens to illegally traded tokens on HotBit?
HotBit is not an official exchange for the trading of BOLT tokens. We have contacted HotBit numerous times to suspend trading over the last 6 months, but have not received a response from them. As a result, we will block the illegally traded tokens from HotBit from being swapped to the new BOLT ERC20 issuance. The team has compiled and traced related wallets who have managed to pick up about 20M of these illegal tokens off HotBit. We will not be supporting these Tokens and will not allow these Tokens to be swapped. Please stay safe and refrain from trading BOLT tokens on any exchange except for Bitmax, KuCoin, and Binance DEX.
What if I am currently holding the old ERC-20 BOLT tokens as an original hodler, but not swapped to BOLT BEP-2?
For original holders, who are still holding the old ERC20 tokens, we will do a manual swap for you. Kindly get in touch with Dave de Vries (dave@bolt.global) to arrange. We will also burn all old ERC20 tokens once the swap is complete. We are monitoring the Financier’s wallet addresses and will not allow then to swap any old ERC20 Tokens that they still hold.
I have BEP-2 BOLT tokens stored on my Ledger. How do I swap from BOLT BEP-2 to ERC-20?
- Method 1 (Recommended): We will advise a window (i.e. time period) where Ledger users can deposit their BEP-2 BOLT into their preferred exchange for their tokens to be swapped automatically.
- Method 2: You can deposit them in your Pegasus wallet (be sure to back up your private keys) and you will also be able to withdraw your BEP-2 BOLT token as the new ERC-20 issuance, once we issue an app update for Pegasus.
Can I see more details on the new ERC-20 BOLT contract? Is the minting locked?
As per our original issuance, the new ERC20 BOLT issuance is minted and capped at 1B tokens, with minting contract locked. This will dispel the notion that the Team is minting extra tokens beyond what we committed in our Tokenomics structure. We will burn the corresponding amounts we have burnt last year for our token burns from the new contract when the token swap is complete. The new ERC-20 BOLT contract details will be released to the community this week.
What happens to my BOLT tokens stored on Binance.com?
No action required. Your BOLT tokens can be withdrawn as BOLT on the new ERC-20 chain or as the original BEP-2 version.
We are already working with Binance to re-open the new ERC-20 to BEP-2 swap facility as BEP-2 BOLTs are being used as a utility token in the BOLT ecosystem for now.
Currently, deposits of old ERC-20 BOLT tokens are disabled to ensure that we can accurately swap the right amount of old ERC-20 BOLT tokens immediately to the new BOLT tokens for legitimate holders who continue to hold their BOLT tokens on Binance.
So what version of BOLT will be trading on Bitmax and KuCoin? What will the ERC-20 BOLT be used for, vs BEP-2 BOLT?
BOLT tokens on Bitmax and KuCoin will soon be trading on the new ERC-20 issuance, which will progress our push to bring on board new options for liquidity of the token.
BOLT tokens on Binance DEX will continue to be traded as BEP-2 BOLT.
When you earn or win BOLT tokens in BOLT+, the BOLT amount will be automatically reflected in your Pegasus wallet. Users will have an option to withdraw BOLT as ERC-20 or BEP-2.
What if I stored my BOLT tokens on the Pegasus Wallet?
Pegasus wallet will be supporting the swap as well. We have over 50M BOLT tokens stored on Pegasus wallets currently.
When you earn or win BOLT tokens in BOLT+, the BOLT amount will be automatically reflected in your Pegasus wallet. Users will have an option to withdraw BOLT as ERC-20 or BEP-2.
Our internal development team will be prioritising this as an update and also support the inclusion of the new ERC20 BOLT into Pegasus.
What is the new exchange listing for ERC-20 BOLT?
We have never managed to have a single FAQ or AMA without this question coming up, so we shall include this in the list. We are unable to comment on new exchange listings until the exchange announces it themselves.
However having BOLT traded again as ERC-20 tokens will open up more liquidity options for us, including the future inclusion of fiat gateways via a Smart Contract.
When will the swap timelines and announcements come? I want to know more information.
Full details of the Swap timeline will be published in coming days.We are working with the exchanges directly to prioritise this.
Our video AMA this week with the Founders will happen as scheduled and we will be happy to address questions by the community.