Cryptocurrencies

On September 3, Binance will support Elrond’s ERD-eGLD swap – Cryptocurrencies

Elrond’s new token, eGold (eGLD) will be listed on Bithumb soon. Good news, but we should already think about properly burying the old token for the glory of its successor. Details on the ERD-to-eGLD swap have been released, a guide that should reassure the community about the transition they will need to adjust to.


So to each his own swap, be careful!

After launching its mainnet and exiting the browser Maiar, Elrond is now preparing to swap his token ERD towardseGLD.

The network’s native token swap should be possible from September 3, 2020, for an estimated duration of 12 to 24 months.

Elrond indicates on his blog, that the swap can only be done in 2 ways: through Binance or thanks to a dedicated infrastructure, the bridge swap, created by the developers ofElrond.

For stakers and validators who have used their ERD before the launch of the mainnet, the swap has already been automatically performed without their intervention – they should therefore have received the new token eGLD ; it will be the same for tokens ERD ERC 20 and BEP2 deposited on Binance.com, we will just have to wait until September 3, 2020.

On the other hand, token holders ERD BEP2 sure Binance.org, must proceed to a manual swap by depositing theERD sure Binance before August 30, 2020 or via the bridge swap after September 3, 2020. The same applies to wallet users Metamask, Crypto.com, Ledger, TrustWallet, etc.

Elrond swap ERD eGold eGLD

Peter Schiff should hate this impostor too

The swap is part of the development strategy of the new business model of ’Elrond, designed to drive wide adoption of its token. The teamElrond recognizes that the complexity of the systems surrounding cryptocurrencies is one of the main obstacles to their use by the general public.

The new token wants to stand out from its competitors thanks to a simpler system and an accessible user interface.

The offer ofeGLD is limited to 31.4 million units, like Bitcoin (BTC), another argument in favor of its acquisition.

A future redistribution of the profits obtained – through the issuance of new tokens and longer term transaction fees – will encourage the registration of validators.

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Cryptoassets are highly volatile unregulated investment products. No EU investor protection. Your capital is at risk.

For Cryptocurrencies readers affected by this swap, please note the dates and protocols to follow. Otherwise, to learn more about this project, which is meant to be a cocktail of giants, you can take a look at the official website of the Elrond project.

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