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Monday, 21 May 2018

SWTC to SWAT Exchange Process: (Ratio 1:1)



Keeping in mind the proposed ICO on Yobit subject to acceptance and approval by Yobit which is pending as of now, we are initiating the process of exchanging the current pre-sale SWTC tokens for the new SWAT tokens on a 1:1 basis. 

Given below is the detailed process of exchange for everyone to take note and follow.

SWTC to SWAT Exchange Process Dates:

22 May to 28 May 2018 - Sending in your SWTC TOKENS to this WAVES Wallet Address: 3PPAHJbrJGmhu5CU2xUMgoRrKce1pSbhNrRaccompanied by a mail of the transaction screenshot from your Waves Wallet along with your Wallet Address and transaction ID that verifies the transaction on the wavesexplorer sent to this mail id: admin@swtcoin.network

Caution! SWTC tokens should not be sent to any other address! Sending the mail with the details is mandatory for the exchange.

29 May to 1 June 2018 - Holding Period during ICO when Deposits and Withdrawals are restricted on Yobit.

1 June to 2 June 2018 - Issue of New SWAT to all investors on a 1:1 Ratio.

From June 2nd SWAT can be deposited from your Waves Wallet into Yobit for trading.

There are some assumptions and conditions to be noted.

All this will be done in this sequence only if Yobit accepts and Launches the ICO on the 29th. If there are any changes in the dates of the ICO announced by Yobit, the process will be modified accordingly.

If for some reason the ICO does not get accepted then the issue of New SWAT will be done on the 29th and 30th of May 2018. 

There will be a small fee of 0.001 Waves needed for the sending in of SWTC. For those holding less than 10000 SWTC, please send a request to this mail ID (admin@swtcoin.network) with a screenshot of your your holding of SWTC and your Waves Wallet Address. I will transfer the required amount of Waves to your Wallet Address.

For others who hold more than 10000 SWTC I request you to manage this amount of 0.001 Waves on your own. Thank you! This can also be done by just selling 15 to 20 SWTC in the SWTC/WAVES market!

It is important to stick to these deadlines in order to avoid any confusion of pre-sale investors trying to take part in the ICO utilizing the price advantage enjoyed by them.

Any SWTC that has not been sent in by the 28th of May becomes invalid after 28 May 2018 and cannot be exchanged for SWAT after that! All SWTC collected during the exchange will be burnt!

There may be some increased buying on the WAVES/SWTC market in anticipation of the proposed ICO. I wish to caution both the buyers and sellers to decide wisely before buying or selling SWTC. 

For sellers there may be a loss if you sell lower and see the price go up later both in the SWTC/WAVES market or in the SWAT/BTC,ETH,USD,WAVES/DOGE/RUR Markets on Yobit! But if you don't sell when there is demand for SWTC and if the ICO does not happen on the 29th, for some reason, there is a possibility again of some short term loss.

Same way for the buyers with hope that they get SWTC at a lower price than the SWAT ICO price there will be a short term loss if there is no ICO now for whatever reason.

Each person has his own unique financial needs both short term and long term. Decide wisely based on this. Let the decision be yours always and don't be misled by anyone!

If you have any suggestions and feedback regarding this, do send a mail to admin@swtcoin.network and also if you need any support or clarifications you can always send a mail to me.

Looking forward to your support and co-operation in executing this exchange in a smooth and glitch free manner. Thanks!

As mentioned earlier there are some offers (Free Pocket Miners) to be announced for both ICO investors and pre-sale investors who buy and hold our coin till Oct 2018. But this announcement will be made in the next couple of days if and when we get the confirmation from Yobit.

Note: Since the exchange process falls very close to the launch of our own Blockchain and Wallet on the 15th of June 2018, the exchange of SWAT tokens on Yobit to SWAT on our own Wallet will be done during Sep - Oct 2018 when we release our Pocket Miners and the mining phase begins. Our blockchain is required mainly duirng the mining phase. If we request Yobit to change the wallet from WAVES Wallet to our CryptoNote Wallet there is a possibility of the WALLET going into maintenance stage for sometime while our Wallet gets integrated into the exchange. We DON'T want this to happen.
It is also easier to get listed using SWAT on the WAVES platform on a few other exchanges as mentioned in my earlier post. So our Blockchain will be launched on the 15th of June. But exchange of SWAT on The WAVES platform to SWAT on our own Wallet will be done during the launch of our Pocket Miners during Sep-Oct 2018.

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