Binance, the most popular cryptocurrency exchange based out of China has finally announced that it’ll be supporting the YOYOW (YOYO) MainNet token swap. This means, people who are holding ERC20 YOYO would automatically get converted to MainNet YOYO.
Launched in September 6, 2017. The YOYOW MainNet has gone through a several feature upgrades and security upgrades. Even after so many lined up upgrades, the developers were able to keep the operation very stable.
For those who are new to YOYOW, It’s a public blockchain which allows developers to build things using the high-performance blockchain at a very minimal cost. Thereby allowing the developers to focus on developing their applications without them letting worry about the performance.
The swapping process would allow the users who’ve deployed applications using YOYOW blockchain to experience the entire YOYOW ecosystem. For the holders, The YOYOW (YOYO) token which the users are currently having are based out of ERC20 and is called ERC20 YOYO, after this swapping they’ll be based out of the MainNet and will be called MainNet YOYO.
The good thing for the token holders who are holding the coin on Binance is, they don’t have to worry about their holdings while the swapping process happens. The Chinese cryptocurrency exchange would handle the technical prerequisites. Isn’t that great?
Binance will stop deposits and withdrawals for YOYOW at 4.00 AM, 8th August, 2018 (UTC.) So if you’re depositing the token to your Binance address also account for the time it’ll take to get deposited to your account and make sure that it gets transferred before the swapping begins or there are chances that you might lose the token.
Once the swapping process is completed, users will be able to see their MainNet YOYOW (YOYO) tokens. Binance mentions in the announcement that even after the swapping process, they won’t enable deposits and withdrawals for sometime. The exchange will make a different announcement once they turn on deposits and withdrawals.
