Note for EthBits token holders:

As you’re aware we’ve been working hard on putting together a solution for our EthBits token for the last few weeks. Thanks for your patience during this process and we are now excited to provide the final details.

The solution we will be implementing is to combine balances from the original and upgraded ETB contracts into a new ETBS token. Any balances from the original and upgraded contracts will be combined as of a specific block number 4190270, and used to initialise the corresponding balance on our new ETBS token. You can follow the block numbers using https://etherchain.org/ .

The new ETBS token uses industry standards, has gone through a full audit and review process, supports dividend payments, and is future-proofed in other ways, so we are confident that this will process will mark the end of the issues we’ve seen with previous versions of our token.

We expect to implement the balance initialization process on the new ETBS token at approximately 2pm GMT on the 22nd August.

Any transfers of tokens on the original or upgraded ETB token contracts that occur after block number 4190270 (expecting to coincide approximately with 2pm GMT on the 22nd August) will not be valid, and ignored on the new ETBS token contract.

It is critical, that in preparation for this event, you do the following:

1. Close any outstanding orders for the original or upgraded ETB token on EtherDelta, or any other exchanges.
2. Ensure that you hold any original and/or upgraded ETB balances on an Ethereum address where you control the private key. This could be an address generated through MEW or Mist.
3. Hold off trading the new ETBS token until the EthBits team has communicated that our post-swap process has been fully signed-off (in fact trading on the new contract will be paused in the contract itself until this time).

We will be publishing details of the new ETBS token as soon as the token swap process above is complete, and we’ve completed our due diligence on the new balances. We expect this to be either on the 22nd or 23rd August.

Thanks again for your patience and support during this process.

Kind Regards
EthBits Team

 

 

PREVIOUS READ ABOUT THE SWAP https://blog.ethbits.com/2017/08/08/etb-token-swap-and-dividends/