Wanchain Is No Longer ERC-20— Here’s What You Need to Know

Guides

Wanchain, a fork of Ethereum that adds extra features such as private transactions, is transitioning out of its ICO phase. The Wanchain ERC-20 token (WAN) can now be swapped for Wanchain’s own coin (also named WAN). Here is what you need to know if you have ERC-20 WAN tokens.

You can take part in the ‘token swap’ right now

If your ERC-20 WAN tokens are in your own Ethereum wallet, you can swap them for WAN coin right now. Head to Wanchain’s tokenswap page and details on how to swap will be sent to your email address. Do not send any other tokens or any ether to Wanchain as they will not exchange it. The company is swapping tokens at a 1:1 rate, meaning that if you hand them 100 WAN tokens, you will receive 100 WAN coins. You can find additional details about this process here.

Most exchanges are listing WAN coin, not WAN token

Exchanges like Binance and Kucoin list Wancoin. This means that you should not withdraw or send your WAN to any Ethereum account or you risk losing it forever. Be vigilant about this, as WAN addresses look similar to Ethereum addresses (due to it being an Ethereum fork). When withdrawing from an exchange, use the Wanchain wallet found here.

If you sent your WAN coins to an Ethereum wallet, you might be in luck because the Wanchain Telegram chat suggests that developers are working to solve this. In the meantime, you can use their chat to reach out to the team. It seems they are currently helping out individuals who contact them with this problem.

CoinMarketCap shows data for WAN coin, not WAN token

The CoinMarketCap page for Wanchain now corresponds to the official coin, not the ERC-20 token. Keep this in mind before trying to use it for any form of technical analysis.

 

Kai is a cryptocurrency copywriter and professional trader. He can often be found investigating various cryptocurrencies, whitepapers, and blockchain technologies. Kai has been a professional writer for 5+ years, and has invested in 50+ different coins and tokens. He also currently studies Law and Philosophy at university.

Leave a Reply