We will support the Ocean Protocol token swap occurring on August 21, 2020 at 16:00 UTC. This token swap will move the Ocean Protocol from the current ERC20 contract to a new ERC20 contract as originally planned and communicated in 2017. It is now being executed to update the monetary policy of the protocol and activate network rewards for community funding efforts.
Customers who hold OCEAN do not need to take any action at this time. Here is some important information to keep in mind over the next few days:
- Starting on Friday, August 21st 2020 at 14:00 UTC, OCEAN deposits and withdrawals will be disabled while we prepare to upgrade to the new OCEAN contract.
- We will begin the distribution of OCEAN to all eligible customers using the same ticker as the original OCEAN contract. Once the swap is complete, users will hold the same balance of OCEAN tokens that they held before the swap. OCEAN tokens under the old contract will become obsolete after the swap.
- We will enable OCEAN deposits and withdrawals soon after the swap is complete.
For more information about the OCEAN token swap, please refer to this article from the Ocean Protocol team.