KNB token Migration Official Announcement!
KNB token migration is just around the corner!
We would like to remind everyone of some important dates, processes, and information that will be helpful during this transition.
Currently, the tokens held by KNB supporters are BEP20 tokens, which were created on the Binance Smart Chain network.
These tokens played a pivotal role in building and developing Kronobit, but as we move towards our standalone mainnet, these tokens will no longer be supported on our platform.
We will be migrating from BEP20 to the QBN20 standard, a native currency for Qbit Networks Chain Mainnet. Kronobit holders can exchange their KNB BEP20 for KNB QBN20 through the migration form.
This will be a 1:1 exchange that will not affect the balance of any KNB holder. What you submit in the migration form is what you will have after it is complete.
Please note that once the exchange is complete, your KNB coins will no longer be compatible with BEP20. If you try to move them to a BEP20 wallet, you may lose your KNB coins.
Overview of the migration process
All operations of KNB within the Binance Smart Chain as a token will cease permanently as of December 31, 2022 (23:59:59 UTC).
To guarantee the transparency and verifiability of this migration process, a screenshot of the transactions will be taken until December 15, 2022 (23:59:59 UTC) and after that date any purchase, sale or transaction made with KNB within of the BSC will not be valid or taken into account to carry out the migration.
Users migrating will need to submit their migration form before December 30, 2022 (23:59:59 UTC). Likewise, the migration and distribution of the KNBs of the Qbit Networks Chain (Mainnet) network will begin on January 9, 2023.
Requirements to carry out the migration process
- Link your wallet address (specifically, where you have your KNBs stored) to Qbit Networks Chain testnet and have claimed at least 1 KNB within the QBIT faucet.
- Have made at least 1 transactions within Qbit Networks Chain testnet.
- Fill out and submit the migration form before December 30, 2022 (23:59:59 UTC)
KBF and KNB BEP8
Like KNB, tokens belonging to the Kronobit ecosystem (KBF and KNB BEP8) will also have the same migration process.
This will be a 1:1 exchange that will not affect the balance of any KBF or KNB BEP8 holder.
If you own KBF tokens, you can complete your migration process by filling out and submitting the migration form before December 30, 2022 (23:59:59 UTC). After the migration, Kronobit Defi Token (KBF) holders will be able to exchange their KBF BEP20 for KBF QBN20.
If you have KNB send KNB, if you have KBF or KNB BEP8 there is an optional section in the form to send KBF and KNB BEP8.
In the form, the corresponding section to send KNB is mandatory, on the other hand, both KBF and KNB BEP8 appear optional, which means that if they do not have them, they can skip filling it out and they will still be able to send their form because the same system will allow them.
Regarding KNB BEP8, it is important to remember that due to the cessation of operations of the Binance DEX exchange, it is no longer possible to trade or transact with KNB BEP8. For this reason, the migration process for all those users who own KNB BEP8 mini tokens will be carried out as follows:
- All those who hold BEP8 mini tokens must provide and submit their corresponding wallet address to the BNB Beacon Chain network (not to be confused with Binance Smart Chain as they are different networks) through the migration form.
- A snapshot will be taken of all those wallets holding KNB BEP8 mini tokens.
- The address provided by the user KNB QBN20 for Qbit Networks Chain Mainnet will be obtained at a conversion ratio of 1:1. This means that if you own KNB BEP8 you will receive KNB QBN20 after migration.
Additional Information
Data sites like CoinGecko and Coinmarketcap have already been notified and will receive a brief regarding the migration process, they are expected to change the ticker symbols and support the migration. However, the process will not be immediate and there will be a transition period for the KNB coin to be correctly reflected on the aforementioned data sites.
Likewise, we inform you that both trading and transactions (deposits/withdrawals) of KNB within the Tokpie exchange have been stopped semi-permanently, this is because Tokpie does not support new EVMs as it is a relatively new exchange. However, once said exchange finishes upgrading its KNB system, it may be available again.
Trading pairs on decentralized exchanges where KNB is available for trading (Pancakeswap, Babyswap and Blue Lotus Dao) will be available until December 31, 2022 (23:59:59 UTC), after which a “kill switch” will occur. Once the migration is complete, it will be reported progressively where new trading pairs will be opened.
If you have any doubts or questions, you can ask them through our twitter, discord channel or telegram group.
We thank everyone for joining us during this beautiful stage of growth and consolidation for the Kronobit project, see you at the next station… Qbit Networks Chain Mainnet.
The future is bright, the future is Knb!
Twitter: https://twitter.com/Kronobit1
Instagram: https://www.instagram.com/kronobit/
Telegram: https://t.me/Kronobit
Discord: https://discord.gg/6G6YDRS4
