Bitfinex announces full support for the upcoming VeChain (VEN) Thor token swap 17871
News
Pinaz Kazi
Jul 7, 2018 at 10:14 AM

Bitfinex announced that it will be supporting the upcoming VeChain (VEN) Thor token swap. Bitfinex will be handling everything associated with the token migration in order to ensure a smooth and trouble-free migration for all the users.

It is to be noted, after the token swap, all VEN tokens will become non-functional. On Bitfinex, the VET tokens will be exchanged directly to all users holding VEN on a 1:100 ratio. The exact details surrounding deposit and withdrawal suspensions on Bitfinex will be provided in mid-July.

See also: VeChain launches its VeChainThor blockchain, upcoming events to look forward to

VeChain launched its independent blockchain VeChainThor on June 30. The blockchain announced it on Twitter that the blockchain is live and has generated its first block. This is the first major step of VeChain to migrate from Ethereum. Now, the blockchain its revised timeline for VeChainThor wallet migration and token swap.

According to their Medium post, their goals and intentions are to adopt the go mobile strategy and, therefore, their VeChainThor Wallet will be the portal to all kinds of dapps on the VeChainThor Blockchain. They claim it to be one the most “secure” wallets in the market and further mentions that it is full of features, services, and opportunities that the word wallet may even be limiting. They plan to make VET a migratable asset which can easily integrate with third-party wallets while retaining the X Node status of the individual.

See also: VeChain (VEN) MainNet launch gathers support from Bithumb

The token swap services will start around mid-July. On the same day, the mobile wallet token swap service is to start on the same day that the X Node Binding Service ends. The said timeline mentions that roughly three weeks after the mobile wallet token swap service is available, X Node monitoring will resume.

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