OpenWeb Network has partnered with to provide swap feature to enable OWT holders to swap to OWTX.
BlockChing is a Telegram Wallet which is simple to use and accessible to everyone as Telegram being one of the most widely used app within Crypto community. Moreover, BlockChing offers no cost swap feature from ERC20 to BEP2 which precisely meets the long term need of OpenWeb Network.
Need for Swap
OpenWeb was originally issued on the network (Ticker: OWT) to be used as the incentive on the decentralized OpenWeb network powered by based smart contracts. While the core features of the Network will remain decentralized, there is a massive opportunity to use on many value-added services that are currently building on the network. These services are agnostic and can use new blockchains like chain which are faster and has a lower transaction fee for these services. chain was selected as the viable to power the second layer services. Hence, OpenWeb was issued on Chain (Ticker: OWTX) allowing existing OWT holders to swap to OWTX 1:1, thereby not affecting the circulating supply as only OWTX will be tradable on exchanges.
Swap Process
Swapping between OWT to OWTX will be a simple and a two-way process and users can swap to the OpenWeb between and blockchains depending on what they need the for.
To swap from OWT to OWTX, please perform the next steps:
Step — 1 (Add sufficient gas fee to your )
Firstly, you need to start the @blockching_wallet_bot in Telegram to start the process.
Before you can start depositing OWT (ERC20) , you need to have sufficient ETH in your to pay for the gas fee.
You can deposit ETH by “/deposit ETH” command. Once ETH is sent to the deposit address, press “Confirm Deposit” and will be credited to your .
Step — 2 (Deposit OWT to deposit address)
Deposit your OWT on your BlockChing using the deposit command.
Once OWT are sent to the deposit address, press “Confirm deposit”. The OWT will be credited to your .
Step -3 (Swap)
To swap from OWT to OWTX, use “swap <number of for swap> OWT” as shown in the attached screenshot.
To check you OWTX balance, you can use the “/balance OWTX” command.
Should you wish to swap your OWTX to OWT, please repeat the process by replacing the ID with OWT. The swap can be performed through BlockChing Wallet at any time, with no limitations timewise.
Step- 4 (Withdrawal)
Once the swap is done you can withdraw it to your or anyone you wish to send the to by using the “/withdraw” command.
Please Note:
1. Withdrawals for OWTX have been currently disabled as per OpenWeb team instructions. Withdrawals will be enabled once we progress closer towards exchange listing for OWTX.
2. Deposits and Withdrawals of need native (BNB/ ETH) for gas fee.
Published at Sun, 26 May 2019 02:21:47 +0000
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