Ethbits tokens are getting upgraded

Since we completed the ICO and distributed the tokens we’ve been working hard to get Ethbits into the hands of token holders and listed on exchanges.

There is however a need to upgrade our token contract which will mean that it gets deployed to a new address and there are some steps you’ll have to follow (more on that below).

We have contracted the team at BlockchainLabs.nz to work alongside Ethbits for an audit of our existing token contracts and development of the new token contract. They’ve also been collaborating with the exchanges that were already trading Ethbits and a few that are eager to list Ethbits to coordinate the transition process. We’ve tried to minimise any disruption to trading too.

When is all this happening? – well it’s already underway. The token was designed to be upgradable so we’ve deployed the new token contract and pointed the old one across already.

TL;DR;

There is a new Ethbits contract and you need to follow the steps below to upgrade.

Guide to upgrading your Ethbits tokens

Hey there, so you have some Ethbits tokens and you’ve heard that they are getting upgraded to a shiny new token contract.

What to do depends on where your tokens are being kept:

  • They’re in my Mist / MyEtherWallet / Parity wallet – see upgrading my tokens
  • They’re on Etherdelta – see withdrawing my tokens from Etherdelta then upgrading my tokens
  • They’re on another exchange like Cryptopia – see waiting for trading to resume

1) Upgrading my tokens directly

We’ll explain the steps below using Etherscan and MyEtherWallet – if you’re using Parity you can either follow along using Parity or import the wallet file to MyEtherWallet. If you’re using Mist wallet just click here

Using Myetherwallet:

Let’s start by reading from the current Ethbits token contract. Open up Etherscan for 0x807b9487aaf00629b674bd6d02e4917453bc5939 so you can read from the current contract. Beside balanceOf you can paste in the address of your account with tokens, then click Query – this value is your balance of ETB tokens in the current contract.

Next we need to write to the current Ethbits token contract, to instruct it that your balance will be switched over to the new contract. Open up MyEtherWallet to the contract tab and paste in the current Ethbits address 0x807b9487aaf00629b674bd6d02e4917453bc5939, you’ll also need the ABI / JSON interface which we can copy from the Contract ABI section on Etherscan (make sure to copy the whole text exactly), now click Access.

The function we need to call is upgrade and it needs a value – paste in your token balance (from the balanceOf query) – this is instructing it to upgrade your whole balance which is recommended. MyEtherWallet needs to access your wallet so it can sign the transaction, then the final step is to click Write. Once your transaction has been confirmed you are on the home straight.

This will generate a TX ID for you to track the upgrade

If you were to read your balance from the current Ethbits contract now it would return 0, and that’s to be expected because your balance now lives at the new Ethbits contract, which is 0x4fE6Ea636aBe664E0268Af373A10CA3621A0B95b.

Note: You need to have at least 0.01 ETH to cover the gas for that transaction.

Last but not least, you probably want to update your MEW settings so the wallet can display your balance of ETB according to the new contract. Once your wallet is open in the Send Ether & Tokens tab you can click Add Custom Token – enter 0x4fE6Ea636aBe664E0268Af373A10CA3621A0B95b in the Address field, ETB in the Token Symbol field & 12 in the Decimals field. From now on you’ll see the correct new Ethbits balance and can carry on transacting and trading like you were before.

To check if your tokens were correctly upgraded, just click HERE and paste your wallet into 9. balanceOf and click query, you should see your tokens below there, if not, repeat the process again.

TO PROVIDE MORE VISUAL HELP FOR YOU TO UPGRADE YOUR TOKENS, CHECK THIS VIDEO CREATED BY DALEMAT “click here”

 

2) Withdrawing my tokens from Etherdelta

We worked with the Etherdelta team to work out the least disruptive way for token holders to upgrade their balances. As a result the Ethbits symbol on Etherdelta was changed to ETB-OLD – this makes it obvious that those balances need to be withdrawn and upgraded. Withdraw your token balance from Etherdelta to your own Ethereum wallet such as MyEtherWallet – then follow the steps for 1) upgrading my tokens.

Once you’ve gone through the upgrade steps, you can deposit your shiny new Ethbits tokens back into Etherdelta where they will be listed with the symbol ETB once again and you can carry on trading.

3) Waiting for trading to resume

The team at Cryptopia were really helpful, given the way their accounts are managed, they decided it was best to halt trading of Ethbits while the upgrade was completed. They are then doing the upgrade bit for you so that the token balances will move across to the new Ethbits contract. As soon as they are done, they’ll resume trading again. You may just need to recreate any orders that were deleted when trading was halted, and then you can carry on trading.

4) Wait my situation wasn’t covered here

We’ve tried to cover all bases here – if you’re in a different situation or if you’re really stuck contact the Ethbits team however we might not get back to you straight away so you’ll need to be patient.

 

Mist tutorial

Let’s start by reading from the current  Ethbits token contract. Open up Etherscan for0x807b9487aaf00629b674bd6d02e4917453bc5939 so you can read from the current contract. Beside balanceOf you can paste in the address of your account with tokens, then click Query – this value is your balance of ETB tokens in the current contract.

 

Next we need to write to the current Ethbits token contract, to instruct it that your balance will be switched over to the new contract. Open up your MIST wallet and go to “Contracts” tab. Now click “Watch contract” and type in “Ethbits” as contract name. Then paste in the current Ethbits address 0x807b9487aaf00629b674bd6d02e4917453bc5939, you’ll also need the ABI / JSON interface which we can copy from the Contract ABI section on Etherscan (make sure to copy the whole text exactly), now click Ok.

Now click on newly added ETHBITS contract. You will be redirected to a page with contract details. Scroll down, find “Write to contract” section and select “Upgrade” function from a dropdown list. Paste in your token balance into “Value” field (from the balanceOf query) – this is instructing it to upgrade your whole balance which is recommended. Select an account which holds your old Ethbits balance from “Execute from” dropdown list.

Press “Execute” button and in the opened window type in your account password and press “Send transaction”.

 

If you were to read your balance from the current Ethbits contract now it would return 0, and that’s to be expected because your balance now lives at the new Ethbits contract, which is 0x4fE6Ea636aBe664E0268Af373A10CA3621A0B95b.

Finally you probably need to add new Ethbits token to you MIST in order to see your new tokens. Open “Contracts” tab again and scroll down to “Custom tokens” section. Click “Watch token” and paste in new Ethbits token address 0x4fE6Ea636aBe664E0268Af373A10CA3621A0B95b. Other fields should be populated automatically.

From now you can see your upgraded tokens on the account page.