KingSwap Open Official Limitless Token Swap Mode for All Users for 100 Days
All Users will be able to Swap their Old ERC-20 $KING to New ERC-20 $KING or XDAI from 17/4/2021 (up to 100 days)
17th April, Singapore — KingSwap is pleased to announce that their Official Token Swap Mode is now open for all users with no restrictions on the slots opened (i.e. everyone with the old $King tokens may participate without limitation). Previously, the Layer 2 Implementation (Stage 1) was the kickstart of their Beta Token swap program which allowed their OLD ERC-20 $KING token holders who had the Old $KING Token but did not purchase any NFTs a chance to swap their old $KING tokens for the new $KING Tokens, and also for some NFT holders to take up these limited slots in the beta testing stage.
KingSwap has now transitioned to a full-scale deployment which allows token holders to progress to the current Stage 4 where all users are able to swap limitless amounts of their old $KING tokens from 17th April 2021 to 25th April 2021.
For those users who are holding onto KingSwap’s NFTs, there will be an exclusive tier of benefits for each tier of NFTs that they hold. Please refer to KingSwap’s websites for more details.
Both NFT and Non-NFT Holders will be able to convert their OLD ERC-20 $KING Tokens through the NFT Rewards Conversion feature. They will be able to swap limitless amounts from 17th April to 25th April 2021, with all the swapped tokens to be credited into their wallets by 27th July 2021. By 25th April 2021, all users must place all their old $KING into the NFT conversion system so that the NFT conversion system smart contract will distribute the new $KING tokens gradually to the users. No further swaps may be executed AFTER 25th April 2021. Users who place their $KING in the NFT Rewards Conversion will be able to extract the rewards of their new tokens daily every 24 Hours after deposits.
These swaps will be held on the KingSwap Layer 1 Mainnet, and once the KingSwap Layer 2 Mainnet is fully implemented, token holders may also do the same via the xDai Layer 2 system (for lower gas fees).
For users that did not swap completely or placed their $KING in the system, KingSwap will not be liable for any losses or claims as these announcements have been made since January 2021 and the public had been duly notified.
Please be aware that once the token swap has occurred, you will be unable to convert them back to the Old ERC20 $KING Tokens.
ABOUT KINGSWAP’S LAYER 2 IMPLEMENTATION PROGRESS
In summary, Kingswap’s Layer 2 Implementation will:
- Reduce the costs of interacting with the network by reducing gas fees and aligning incentives across all participants.
- Improve collaboration and move forward to a hyfi (hybrid finance) platform. KingSwap aims to facilitate joint initiatives, like interfaces with combined CEX ventures like Bitmart and Hotbit which will improve protocol development, shared community resources, and insurance pools. Extensive progress has been made by members of Kingswap towards researching mechanisms that can accomplish all of the above on-chain.
- Establish a robust network moat on the co-beneficial ground, reducing the likelihood of the network being forked. The software can always be copied, but decentralized ecosystems — crypto networks — are resilient to attack.
- KingSwap also pioneered Layer 2 implementation to be able to achieve super scalable growth. This first token swap will set a precedent for Kingswap’s future, as well as establish the collaborative need to build effective KingSwap’s ecosystem interfaces, and other infrastructure.
There will be a total of 3 stages during our 2nd Layer implementation:
Stage 1: Swapping OLD $KING Token to NEW $KING Token, Converting OLD $KING Token to USDT if desired
Stage 2: Rolling out ERC1155 NFTs
Stage 3: Deploying Layer 2 Ecosystem and Gateway contract
If you require support in your swap, please reach out to our telegram or email hello@kingswap.io
ABOUT KINGSWAP’S FEATURES AND ADVISORY TEAM
KingSwap is a high-yield liquidity platform that offers extensive staking rewards, digital collectibles, and fiat conversions. An evolution of Uniswap, KingSwap provides user-friendly features that provide real-time benefits in terms of price curves and contributor rewards. In its first three days on Uniswap alone, KingSwap achieved $4 million USD in transaction volume.
KingSwap was founded and advised by a team of experienced leaders in banking, finance, and crypto, with its advisors including Dr. Anish Mohammed, who has advised and worked for companies including HSBC, Lloyds, and Zurich, and was an early advisor to Ripple and Ocean Protocol; Venture Capitalist Dr. Giampaolo Parigi (PhD); Professor Alex Nascimento (MBA), Faculty and Co-Founder, Blockchain at UCLA; Michael Terpin, Founder and CEO of Transform Group and Co-Founder of BitAngels; Lionel Iruk, Esq.(J.D), Dr. Robert Choi (PhD), Malcolm Tan (LLM) and Frank D.(MBA).
To learn more about KingSwap, join the KingSwap Telegram group, or follow the project on Twitter.
ABOUT KINGSWAP
KingSwap (https://www.kingswap.io/) is a DeFi project based out of Singapore that is introducing a liquidity pool platform with fiat conversions. KingSwap’s high-yield liquidity platform offers extensive staking rewards, digital collectibles, and fiat conversions. An evolution of Uniswap, KingSwap provides user-friendly features that provide real-time benefits in terms of price curves and contributor rewards.
Person to Contact: Amanda Tan
Company Address: 50 Raffles Place, Singapore Land Tower #19–03 Singapore
Email Contact: Hello@KingSwap.io
Websites: kingswap.io — kingswap.info — kingswap.exchange
