KuCoin announces support for RChain (RHOC) MainNet Token Swap
KuCoin, the Hong Kong-based crypto exchange has recently announced that it will support the RChain (RHOC) MainNet Token Swap. The exchange, in its recent blog post, mentioned that it will help the holders of the token on KuCoin to complete the token swap process.
Once users deposit their RHOC tokens to KuCoin, the MainNet token will swap automatically with the help of the exchange.
On the other hand, RChain will issue REV at a 1:1 ratio based on the RHOC holder’s balance. The mainnet is planned for early 2019.
From the mainnet onwards, REV will be the major currency of the RChain blockchain. REV will allow the user to bond a validator’s stake, pay fee for transaction, utilize smart contracts on the new RChain based blockchain.
RChain announced that if one needs to build his/her own RChain-based dApp, they will need to acquire REV for the development of the dApp.
In order to receive REV tokens, users must make sure that their RHOC are in an Ethereum account and where the user controls the private keys. The RChain developers’ team recommends its users to do this before the year ends.
The team also warns its customers not to accept information about the participation in the REV issuance at network launch from anyone else, not to share private keys, not to send RHOC to a third party address that the user doesn’t control. They also assured the users that the developers will not ask for RHOC tokens to be sent to them in order to receive REV.
According to a recent report by BC Focus, KuCoin partnered with Simplex in order to provide new and current users to purchase their cryptocurrencies using credit and debit cards.
The facility is available in more than 100 countries around the world. Users can purchase cryptocurrencies such as BTC, ETH, and LTC using both USD and EUR.
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