Users who are still looking to convert their ERD tokens to eGLD will be pleased. The expected mainnet token swap bridge has gone live. Elrond Swap Bridge makes this process a lot more straightforward, and ensures users can get started with the new token as quickly as possible.
Swapping ERD to eGLD
It has been coming for a while now, but the eGLD token has finally arrived. It will become the new main token of the Elrond network and replace the previous ERC120 and BEP2 tokens altogether. This will result in a much lower supply, as every eGLD is worth 1,000 ERD – but has the exact same value. It is an interesting way of moving away from the Ethereum network and fully launching the Elrond mainnet as well.
Swapping this token is done by supporting exchanges automatically. For everyone else, there is the Elrond Swap Bridge. It is a very simple yet elegant solution to facilitate this swapping procedure. Users simply select their current ERD token type, add the eGLD wallet address, and complete the procedure. It can take up to an hour or more before the new currency arrives, but that is not something to be overly concerned about. That is to be expected during such a crucial stage for the Elrond project.
Every token swap will be assigned to a unique Ethereum or Binance wallet. This ensures all requests will be processed correctly and in the right order. It is this approach that can trigger a slight delay in achieving the conversion and obtaining the new tokens. Even so, it is a more than respectable transaction time, all things considered.
Batching Swaps is Crucial
To ensure all transactions occur properly, Elrond’s team will batch swap requests. Every so often, multiple requests will be bundled and processed. Users will see a successful message appear on the Elrond Swap bridge website once it has been completed successfully. Should users into anything unforeseen, they can still have an online chat on the page as well.
Swapping to eGLD marks an important milestone for the Elrond project. The mainnet asset will pave the way for a new economy, integrating more exchanges, staking, DeFi, and much more. Keeping tabs on this project over the coming months will prove worthwhile. Building the necessary tools to take the ecosystem to the next level will become the main priority moving forward.
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