APPICS Tokenswap begins: Instructions for the EOS-Telos Bridge

The purpose of this letter is to familiarize yourself with the process of the tokenswap, as well as all requirements and steps involved.

First, we will undergo the tokenswap on the EOS side, and then the tokenswap on the STEEM blockchain will be completed.

Performing the process in this order allows us to start listing on the EOS/Telos exchanges with the new APX token.

How do I know if my APX tokens are EOS-based or STEEM-based ?

If you have earned APX tokens through the APPICS app and you have never bought or traded any APX on Newdex, then your tokens are STEEM-based.

Part 1: Token swap — Bridge between EOS APX -> TELOS APX

The bridge is a direct link between the EOS and Telos blockchains, allowing EOS-based APX Token holders to perform the tokenswap themselves.

Using the bridge

The Telos-EOS bridge allows APX tokens to be moved between the EOS and Telos blockchains seamlessly and without any fees.
(You can find detailed step-by-step instructions in English & Spanish in this post!)

Wombat Wallet is available for mobiles, tablets and browsers

Step 1

Create a free Telos Account (if you don’t have one already), for example through Wombat https://getwombat.io/ or Sqrl https://sqrlwallet.io/ (Video tutorial: https://twitter.com/sportyjash/status/1383494220854415360)
Note that your Telos username has to be exactly 12 characters.
Once you have your new Telos account setup, you are ready to perform the swap.

Step 2

Send your APX tokens to the EOS bridge account “telosd.io”. As a memo, write “YourTelosUsername”@telos.

Example using Wombat Wallet

Example:

Bryan has 10K APX tokens on Newdex and wants to swap them for Telos-based APX.
He chooses getwombat.io as his wallet to create a Telos account.

Example using Sqrl Desktop Wallet

Step 3

You have completed the APX tokenswap on the EOS Blockchain.
You will receive your APX tokens on your newly created Telos account wallet.

How to swap your APX after the 6-week window is closed

After the time period of 6 weeks is up, APX token holders on EOS still have the option to swap their APX by sending them to the account “apxtokenswap” and putting their “username@telos” as the memo, where the tokens should be sent to.

Sending your APX to the “apxtokenswap” account using Wombat

In the example on the left, we use the EOS wallet Wombat to send 10000 APX tokens to our Telos wallet “bryanjackson”.

With this option, you would send your APX to an APPICS account and manually receive your Telos-based APX tokens.

However, we strongly recommend to use the first option, directly send your tokens through the EOS-Telos bridge within the given period of 6 weeks, starting today.

After the necessary steps for the EOS tokenswap have been completed, we will release detailed instructions about the second part of our token swap, the STEEM side.

We would like to thank the Telos team for coordinating everything with us, the support we received on the Steem-engine side, and all of you for your patience.

If you have any other questions regarding the tokenswap process, you can reach our team in our Telegram group: https://t.me/appics_official

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APPICS

APPICS

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APPICS is a next generation, reward-based social media APP that lets users monetize the time and creativity they spend on social media.