TRON’s (TRX) founder, Justin Sun, has just tweeted about new additions to the TRON support list. Apparently, Coinoah and CoinEx decided to join the trend and become the two newest crypto exchanges that will support this crypto’s token migration. And, with the migration now being only one day away, the TRON Foundation decided to release all the necessary guidelines regarding the event.
CoinEx and Coinoah give their support to TRON
The ever-growing list of crypto exchanges that have decided to support TRON (TRX) token migration has just received two new members, according to Justin Sun’s new tweet.
— Justin Sun (@justinsuntron) June 19, 2018
CoinEx is a professional crypto exchange that is offering its services on a worldwide scale, and its goal is to create a highly-secure platform which would be stable and efficient. It supports various languages, and it also provides its services to more than 100 of the world’s countries. This makes it an excellent addition to TRON, and a truly valuable supporter.
Coinoah is a similar platform that is also available around the world. Additionally, it is operated by some of the best teams that consist purely of professionals in this field. The teams operate from various locations, including Thailand, Singapore, Hong Kong, Japan, and South Korea.
The exchanges have taken one of the latest opportunities to stand by TRON during its token’s migration, which is to be held tomorrow, June 21. TRON’s official blog post also mentioned this decision by the exchanges and has further stated that the investors need to deposit their TRX coins before tomorrow. The migration will, then, be done automatically.
TRON releases guidelines regarding the token migration
In addition to gaining new supporters in the upcoming event, TRON has decided to help out those who will be affected by the token migration by sharing some of the most important guidelines regarding the event. Through this token migration, TRX coins will finally stop being a part of Ethereum’s ERC-20 token and will move to their own blockchain.
According to the guidelines, the TRX coin holders will be able to join in on the coin migration by depositing their tokens in various exchanges. The exchanges in question are all those that have decided to support TRON prior to June 21.
The swap will be a 1:1 swap and the balance will remain completely unaffected by the event. Each of the 30 exchanges that will be participating has their own timelines, and will decide individually when will they stop with accepting the deposits. Because of this, it is extremely important for everyone to check when will their exchange stop accepting, and make sure that they are done with depositing their coins before that deadline.
Deposits and withdrawals will be completely suspended until the token migration process is over, and will start once more on June 26.
One thing to note is that Binance will continue with TRX swapping ever after the official event, and all it takes is for token holders to transfer their ERC-20 coins to Binance.
After the migration is done, users can freely take their tokens to a secure wallet, or leave them on the exchange. Only a day after the migration officially ends, TRON will have a Super Representative Election, and in order to vote, the coin holders will have to have their TRX coins in their Tron Wallet.
Another thing to remember is that the coins will no longer be compatible with ERC-20 wallet, following the migration. Those who try to move their TRX to an ERC-20 wallet after the event may lose them forever.
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Disclaimer: This article should not be taken as, and is not intended to provide, investment advice. Global Coin Report and/or its affiliates, employees, writers, and subcontractors are cryptocurrency investors and from time to time may or may not have holdings in some of the coins or tokens they cover. Please conduct your own thorough research before investing in any cryptocurrency and read our full disclaimer.
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