This article was first published on æternity blog - Medium
As the first scheduled fork of the æternity network is drawing near, we would like to announce some important details related to AE token migration.
In November of last year, we announced the launch of the first phase — Phase 0, pre-Mainnet — of the AE token migration. The end of Phase 0 on November 25th marked the beginning of Phase 1, which is currently running. As you can see from the image below, the AE token migration process is being executed in four steps and enables users to transfer their Ethereum AE tokens (ERC20) to the æternity Mainnet through scheduled forks.
With their AE on the live æternity network, users can utilize them to:
- initiate lighting fast transactions;
- run Sophia smart contracts;
- open/close state channels;
- become an oracle or query oracles;
- register names in the integrated naming system (beta);
- participate in the governance process by voting with one’s token balance (planned)
- make use of all applications that are available and currently being developed.
The Mainnet AE token acts as a unit of account for the resources spent on the æternity blockchain. It is the energy (or “crypto-fuel”) used to power all actions on the platform. Since all of the fundamental technological features of æternity are integrated in the core protocol (Layer 1), their use requires AE tokens.
End of Migration Phase 1
We would like to announce that the end date for Phase 1 will be:
February 15th, 11:59:59 PM CET (Friday)
All tokens migrated prior to that date will be included in the February fork. The exact date for the fork will be announced soon. All AE tokens that are migrated after February 15th will become part of Phase 2 and will appear on the æternity Mainnet after the fork, scheduled for May, 2019. To migrate, please go to:
Before you start migrating your AE tokens, please ...
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æternity blog - Medium