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The team behind NKN (NKN) – described as "a new generation of highly scalable, self-evolving and self-incentive blockchain network infrastructures" in his whitepaper – proposed a one-to-one token exchange from the NKN token already compatible with NEP-5 to one complying with the ERC-20 standard of the Ethereum network.
The decision of NKN, second their announcement published Friday, was "based on feedback from community members, institutional investors and major digital asset exchanges." Without knowing for sure, it would be suspected that much of this feedback concerns a lack of liquidity with regards to the NKN token. Indeed, NKN stressed that "the improvement of liquidity" would occur as a result of the exchange of tokens.
Until today, right five cryptocurrency exchanges – gate.io, Switcheo, BCEX, Bitrue, is LATOKEN – had listed the NK-compatible NEP-5 token. For one reason or another, the lack of liquidity appears to be a common problem for projects that have decided to conduct their initial money supply (ICO) over the NEO blockchain.
When reviewing the digital assets listed on top-level cryptographic exchanges such as Binance, Bithumb, Huobi Global is Coinbase, the lack of NEP-5 compatible tokens quickly becomes interesting.
It is worth noting that the liquidity of the NKN NEP token token – a so-called token "placeholder" (that is to say, another token exchange will occur when NKN is launched on the mainnet (planned for June 2019)) – was close to being a non-problem for the NKN team and its investors.
In fact, last July, NKN participated in the controversial eighth round of Binance Community coin of the month event for which Polymath (POLY) the winner was declared despite the number of votes lower than each of Mithril (MITH), NKN (NKN), is Libra's credit (LBA).
NKN said Friday that NKN token holders can switch to the ERC-20 variety until 31 Marchst, pending any changes "due to the request". It is important to note that holders of the current NEK-5 compatible token are not required to participate in the token exchange. For those who wish to, we invite you to take a look at this step-by-step guide created by NKN.
The NKN team has also reinforced it, because the optional the token exchange must be performed in a one-to-one relationship, "there [will be] no change to the total number of issued NKN tokens or economy tokens. "
NKN announces the 1: 1 token exchange: from NEP-5 to ERC-20, based on community feedback, investors and exchanges to improve liquidity and expand the ecosystem. Please read the timeline and the guide published on Medium.https: //t.co/wb4Crxhvv1
– NKN (@NKN_ORG) January 4, 2019
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