How to swap your TRON (TRX) tokens for its mainnet launch
What TRX holders need to know about the upcoming token swap.
TRON (TRX) is transitioning from the Ethereum blockchain to its own network, and its token is transitioning from an ERC20 standard coin to a brand new TRX coin. This is like when a network takes off its training wheels and starts supporting itself.
- 31 May 2018 – The switch begins: TRON starts migrating to mainnet. It will remain in beta for most of June, while developers work to make sure everything is ready.
- 21 June to 24 June – Token swap: This is when the old ERC20 TRON TRX coins are swapped out for the new mainnet TRON TRX coins.
- 25 June – Independence day: TRON mainnet goes live and operational with new tokens.
How to swap your tokens
The TRX token swap is being done through exchanges. TRON holders need to make sure their coins are being held on participating exchanges by the deadline, and they will be automatically swapped out one for one.
You can find a list of participating exchanges on the TRON website. As long as your coins are held in your account on any of those exchanges by the deadline, your tokens should be automatically swapped out.
If your preferred exchange isn't on that list, you might want to contact that exchange directly and ask whether it will be involved in the TRON token swap and whether there's anything you need to do to prepare.
- 21 to 25 June 2018: TRX withdrawals from exchanges will be suspended.
- 24 June 2018: The last day for making sure your TRX is on an exchange, rather than in your own personal wallet.
- 25 June 2018: TRX deposits on exchanges will be suspended.
- 26 June 2018: Token swap completes, deposits and withdrawals resume.
What if I miss the deadline?
If you miss the deadline, weren't aware of the migration notice, didn't see it until it was too late, were struck with a bout of amnesia or were otherwise unable to deposit your TRX coins onto an exchange ahead of the deadline, TRON is planning to operate a token exchange counter after the mainnet launch. Here you will be able to swap old ERC20 TRX tokens for the new mainnet TRX tokens.
It's not clear whether this counter will get the same 1:1 exchange rate, or if there will be any fees or how it might work, so it's probably easiest to make the swap via an exchange.
What if I want to buy or sell TRON (TRX)?
You will still be able to buy and sell TRX as usual, except in a way that conflicts with any of the deadlines.
For example, you won't be able to deposit and sell TRX between 25 June and 26 June, and you won't be able to withdraw any freshly purchased TRX from 21 June to 25 June.
Exchanges are also likely to implement their own trading suspensions on TRX during the swap. How long the interruption lasts will probably vary depending on the exchange.
Disclosure: At the time of writing the author holds ETH, IOTA, ICX, VEN, XLM, BTC, XRB
- Brace for impact: Cryptocurrency industry faces heavy regulatory blow
- Blockstream unveils Liquid Securities: Security tokens for Bitcoin sidechains
- Bitcoin astounds by rising $1,000 overnight
- Deloitte: The blockchain debate is over, and blockchain won
- Bitcoin bears and altcoin bulls took a thrashing this week