EOS MainNet Token Swap: $1.1 Million Tokens not Converted Yet

EOS recently announced that there would be a transition from Ethereum network to the EOS MainNet On the 2nd of June 2018. The token swap involved in this transition was expected to be fully managed by Kraken. Token swaps procedure appears to be convenient and straightforward. In most cases, it is adequate for clients to move their assets onto an exchange, where the tokens will be automatically transformed to the new one, utilizing cryptocurrencies is generally not an easy task. In any case, that implies clients should move their assets to exchange if they keep their tokens in another wallet.
The EOS token swap was not expected to cause a lot of an issue. However, a considerable amount of ‘old’ EOS tokens are still on the EtherDelta platform for reasons unknown, and it appears to be impossible that they will be changed over sooner rather than later. In any case, the EOS engineers realized that something like this would happen and chose to work in a safeguard hence. It is obvious that the wallet address having a place with EtherDelta holds more than $1.513 million eosDAC tokens. Those are the old ERC20 tokens which ended up invalid and void once the undertaking’s main net launched a few days ago. Furthermore, there are as yet 74,483 EOS tokens contained in a wallet claimed by EtherDelta.
Those unconverted tokens are as of now estimated at $1.1 million. While these tokens ought to have been changed over by last Saturday at the latest, it appears that did not occur for reasons unknown. It is a significant issue, yet not all expectation is lost. One can dare to dream that these unconverted tokens can be recuperated some way or another, although it appears to be improbable that any specific arrangements will be executed sooner rather than later.
From all indications, it seems that there will be a recovery framework for EOS tokens which were not enlisted or changed over at the proper time. It is unclear right now when that will happen and precisely how clients can guarantee they will profit from it. One requirement is that clients should control the private key of the Ethereum address being referred to, which is essentially unimaginable with regards to utilizing EtherDelta. This has made a fascinating, but marginally troubling circumstance for EOS holders. $1.1 million in lost tokens lessens the coursing supply of EOS, which isn’t the advancement most clients had sought after as of now.

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