In a Medium post on November 16th, TomoChain announced that the ERC20 token migration will begin on December 14th and conclude on December 20th.
On December 14th at 4 PM Singapore time, TomoChain will officially launch their main net. In a one-to-one ratio, the ERC20 TOMO will be exchanged for the main net TOMO.
During December 14th and 18th, TomoChain will be running five full nodes for the process of initiating a master node candidate. Voting for candidates will begin right after the migration on December 18th once the tokens have been swapped. On December 18th at 2 PM a snapshot for all ERC20 TOMO will occur and all native TOMO will be distributed according to that snapshot. By December 20th, the entire process will be complete.
How to exchange TOMO
TomoChain has contacted all of the exchanges TOMO is currently traded on in order to coordinate the swap. This is the simplest method as all you are required to do is leave your tokens on a compatible exchange and follow their instructions. The following exchanges have already confirmed support for the swap: Kucoin, KKcoin, Gate.io, Cryptology, and Hotbit (with more potentially coming).
- TomoChain Mobile App
If you do not feel comfortable leaving your tokens on a compatible exchange or the exchange you have them on won’t be participating, the next best way to receive the main net coin is to use their mobile app. Simply send your ERC20 tokens, before December 14th (to be safe), to your wallet and once the snapshot occurs, the tokens will be exchanged. NOTE: Please wait to send your TOMO to the mobile app until after November 25th as it will be updated to allow for storage of the ERC20 TOMO and the swapping process.
The simplest way to confirm your tokens will be swapped is to hold them on one of the ways listed already, but if you don’t then make sure that they are on a wallet in which you hold your own private keys. All ERC20 TOMO will be migrated to the address on the TomoChain’s main net, which you can access using your private key.
If you have your TOMO on a smart-contract address (multi-signature address), move the TOMO to a regular address in which you own the private key before the freeze date, December 18th.
See below for roadmap picture of the process:
This section has been intentionally copied from TomoChain’s blog post in order to relay the exact message that TomoChain wants.
- When can I start running my master node or staking using my TOMO?
As soon as you receive your tokens on TomoChain’s main net (after December 18th, 2 PM Singapore time). By this time, the main net should have been stable for a few days. You can then use TomoMaster to initiate a master node candidate, or vote for current candidates.
- Can I keep my token in my Nano Ledger S?
Yes. Your private key inside your Nano Ledger S can be used to unlock a wallet in TomoChain’s Mainnet that stores TOMO after the migration. After Mainnet launch — use MyEtherWallet and choose TomoChain network to access your TOMO. https://medium.com/tomochain/using-your-ledger-wallet-with-tomochains-testnet-e8404e8e541e
- What will happen to the current ERC20 TOMO?
ERC20 TOMO will be frozen permanently and obsolete after the token freeze date (December 18th, 2 PM Singapore time) but it will not disappear. Issuance of the native TOMO will be based on the snapshots at the freeze date.
- Does this process affect trading?
Trading should proceed with minimal disruption. Exchanges should test TomoChain’s Mainnet between December 14th, 4 PM — December 18th, 2 PM. After the token freeze date, TOMO deposits and withdrawals should occur on TomoChain’s main net.
- Could I use IDEX exchange, or other decentralized exchanges after December, 18th, 2 pm?
No. In fact, all the tokens on IDEX, or other decentralized exchanges would be obsolete after the token frozen date. You should withdraw your tokens to one of the wallets that you own the private key like Tomo mobile wallet before the token frozen date. There is no DEX that supports TomoChain’s Mainnet yet.
- What will happen if I do not migrate my ERC-20 TOMO on time?
If you own your private key, you now own the same amount of TOMO on the Mainnet in the same wallet. If you have your token on an exchange that supports TomoChain’s Mainnet, you are also fine. Note: If you keep your tokens in a smart-contract address for which you do not own the private key, your tokens will likely be lost.
- Which wallets should I use with TomoChain’s Mainnet?
You can use TomoChain’s official mobile wallet (android or iOS), or MEW (change network to TomoChain) for TomoChain’s Mainnet. There will be more wallets that support TomoChain’s main net in the future.
- Could I lose my TOMO during the migration?
You will not as long as you possess your private key to ERC-20 TOMO, or have ERC-20 TOMO on an exchange that supports TomoChain’s Mainnet.