TOKEN SWAP FAQ. For action before July 23, 2018.

Transcription

1 TOKEN SWAP FAQ For action before July 23, 2018.

2 Thank you very much for all your questions so far. It really helps to improve the explanation of the process. If you are not sure about any step from the Step-by-step Guide, the SophiaTX Team is ready to help. Send your issue into the SophiaTX Telegram group or send an to One of the team members will respond as soon as possible. FAQ When is the deadline for token swap registration? Deadline for registration is 23 July 2018, 23:59 (CEST). Why should I complete the registration? The purpose is to register an account on the mainnet of SophiaTX and to link it with your existing account on the Ethereum network (holding your SPHTX ERC20 tokens). On 23rd of July, based on the registered ETH account, your balance will be recorded in the genesis block (first block of the mainnet) and transferred onto your SPHTX account. Once the network is launched you will have access to your funds. How many SPHTX tokens will I receive after the token swap? You will receive the exact amount of new tokens as you had previously in your ERC20 wallet during the time of the snapshot. What exchanges are supporting the token swap? What does it mean, if I have tokens there? Bit-Z, Kucoin, Hotbit, Qryptos, Coinfalcon. Cobinhood has been informed, we are waiting for their statement. It basically means that if you leave your tokens in the exchange, they will do the swap. However, they will not create the new wallet for you, so the tokens will be only in the exchanges wallet. This is fine when you don't want your own account on our mainnet and you are only going to trade with it. But if you want your tokens to be held in a more secure way, you should do the registration process and create your own SPHTX wallet. 2

3 How can I double check if my registration was correct? At this moment, there isn't a way to double check whether your registration was successful. After the swap and start of the mainnet, you will be able to log into your new wallet and check, if you have your funds successfully transferred. If not, please contact support@sophiatx.com. What happens if I didn t complete the token swap registration before the deadline? You will not be able to trade with your old SPHTX ERC20 tokens, they will no longer be supported by any exchange. You will have to wait for new instructions to claim your tokens after the mainnet launch. Where will I keep my tokens after the swap? They will be safely transferred to your newly created wallet if you have completed the registration. After the registration, can I move/trade my tokens? Yes, after the registration you can still trade your tokens, and the final balance will be transferred to your new account when the snapshot is taken. If you want to move your tokens, please only move to an exchange; if you move your tokens to a new MEW which has not been regsistered then the tokens will not be registered and transferred when the snapshot takes place (23 rd July 23:59 CEST). This snapshot will determine the amount of tokens transferred to the new mainnet and we encourage you to keep your SPHTX ERC20 tokens in your wallet during the time of the snapshot. When I try to send 0 amount to the smart contract, it showed an error link. The only difference I made to the instructions was to add gas limit of instead of in the instruction. The transaction fee for writing into the smart contract depends on the status of the ethereum network and how clogged the network is. It might happen in rare cases, that the minimal recommended amount of gas is not enough. Unfortunately, we don't have any control over the amount of gas necessary to complete the action. Please use the auto populated option or more and try again. We recommend to check the actual ETH gas prices at: My transaction regarding the swap is pending for a few hours. When will this stop? The duration is depending on the Ethereum network. Your swap might be rejected due to low fee for transaction (low amount of gas). If it's rejected, the transaction amount will be sent back to your wallet. If this is the case, you will need to repeat the transaction again. Please use the auto populated option of gas or more. 3

4 Can I use hardware wallet to do the registration? Yes, but the new SophiaTX wallet is not supported by hardware wallets. You will not be able to store new SPHTX tokens after the swap. I've added capital letters in the "Name" field. This could be the reason I get "Error". However, someone said it's fine to receive "error". Is that true or do I have to restart the process? Please, follow the instructions in the Step-by-step Guide (Part TWO, step 5.) The name should be between 3-16 characters long, no space and consisting of lowercase letters a-z. Numbers are not recommended. The first character in the name should be lowercase. Please note: we reserve the right to adjust the account name if needed. In case you already used the capital letters, you don t need to repeat the process and we will handle it for you. In all other cases, please repeat the process. I've completed the swap via MEW. Will my new SPHTX (I bought after the migration ) go along as well? I m asking this due to the fact my friends are lazy and want to temporarily transfer their funds to my MEW wallet. Any kind of transactions after 23 rd will be accepted? Yes, you can trade/move and add more SPHTX tokens before the snapshot on 23 July This snapshot will record the amount of SPHTX tokens you hold in your ERC20 wallet and this amount will be transferred to your new wallet. Please note that you will not be able to purchase or sell old SPHTX ERC20 tokens after the token swap, because all exchanges will immediately stop supporting old tokens/sphtx ERC20. What is the difference between private and public key? Private key is like the private code for your account. Please keep your private key safe, e.g. Print on paper etc. Public key is the address of your wallet. It is like a bank account number which can be visible to others. Are you migrating our addresses or migrating our funds? Funds. We are going to mirror the exact amount of your old tokens SPHTX ERC20 to the new wallet, as recorded in the snapshot. 4

5 Have more questions? Please feel free to ask us via or join the SophiaTX Telegram group. 5

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