Quote from: leocoinexpert on May 25, 2019, 11:36:25 AM

Hi,

sorry, not at all my intention. I am only trying to understand this exchange process.

To make it more clear. Does it work like this ?:

We have Leocoin, a real crypto currency with a POS mechanism.

We want to move to a ECR 20 token.
ECR20 tokens must be created.

According to the token contract, there is exactly one address/person( first question: who : Leocoin Foundation?) that has the right to create tokens.

As you said correctly, we have about 130 million Leocoins, so 130 million tokens were created, right?

In a next step, everyone with a Leocoin gives its Leocoins to the token creator and will get tokens back , right?

What happens to the Leocoins that were exchanged against a token? Are they destroyed? Or listed, so that they can not be exchanged once again (2nd question)?

Thank you!
Best wishes

About 130m ERC20 LEOcoin have been created, you can see that on the contract address.

Anyone with LEOcoin² who upgrades has gotten/ will get the same amount of LEOcoin³ tokens in return. The swap is 1-on-1. As far as I am aware off, the 'old' coins go to a 'burn-address' to get parked there. LEOcoins can only be upgraded once.

Tokens that are not 'converted' will first stay on hold, in case LEOcoin holders that missed the time-frame in which conversion is open, later wish to exchange them. I think Dan has said, this period is currently six months. Livecoin e.g. already upgraded and only uses ERC20 tokens for deposit and withdrawal. Other exchanges will follow soon.

My guess is that we could extend the conversion period, when deemed needed. In fact, we still offer conversion from LEOcoin original coins to the X11 chain (PoS LEOcoin²), so theoretically, one could still upgrade coins that originate in script-jane mining to X11 and then again to ERC20 standard. Nevertheless, I advice to upgrade your LEOcoin² for tokens, at the latest when the LEOcoin Holder's Reward is activated, so you can get maximum stake reward from your current LEOcoin2 and then immediately add the LEOcoin³ to the reward programm, provided that you qualify. The reward overview and qualifications will be published in the white paper that the LEOcoin Foundation will publish next week, but there is not much changed compared to the conditions for stake reward.