Paving the Way for $EMYC
It’s a super exciting time for us at E Money Network!
We are finally ready to launch the E Money Network beta mainnet with our E Money wallet. This is a major milestone for us as the beta mainnet will be the compliant and secure foundation for the blockchain applications of the future, especially RWA applications.
As a part of our endeavours to pave the way for E Money Network and its native token $EMYC, we are transitioning our support from $SCLP to $EMYC. This move is aligned with our mission to establish E Money Network as a leading blockchain for compliant RWA tokenisation.
As per our previous communication, E Money Network has acquired Scallop. In accordance with this development, we will launch E Money Network’s native token $EMYC at our upcoming TGE.
$SCLP will be delisted from all centralised exchanges and DEXes. The official $SCLP delisting date is 22nd November, 8 AM UTC time.
After the delisting of $SCLP, you will not be able to trade $SCLP tokens on any of the following Centralized exchanges - Kucoin, Gate.io, Bitget, MEXC, Lbank, Toobit and decentralized exchange - PancakeSwap.
DO Note: The above mentioned exchanges are official ones, and there are several that may have listed $SCLP unofficially which will follow the same delisting and removal of liquidity.
For users who have their SCLP tokens on Kucoin, Gate.io
After the delisting of $SCLP, you will not be able to trade/deposit/withdraw SCLP tokens on Kucoin and Gate.io exchanges.
Users who have $SCLP tokens on Kucoin and Gate.io exchanges will not have to do anything. The conversion process from $SCLP to $EMYC and vesting thereafter will be entirely taken care of by Kucoin and Gate.io exchanges respectively, and users CANNOT withdraw $SCLP from these exchanges after delisting.
All communication related to $SCLP delisting on Kucoin and Gate.io will be shared on our official Twitter and Telegram channels.
For users who have their SCLP tokens on Bitget, MEXC, Lbank, Toobit.
After the delisting of $SCLP, you will not be able to trade $SCLP tokens on any of the aforementioned exchanges.
Unlike Kucoin and Gate.io, users on these exchanges will have to withdraw their $SCLP tokens from the exchanges and deposit them in their web3 wallet.
Users will have to follow the conversion process for converting $SCLP to $EMYC on our conversion portal by connecting their web3 wallet.
All communication related to SCLP delisting on these exchanges and the launch of the conversion portal will be shared on our official Twitter and Telegram channels.
For users who have their SCLP tokens on web3 wallets like Metamask, E Money wallet
After the delisting of $SCLP on all centralised exchanges, liquidity pool for $SCLP on Pancake Swap will also be discontinued and users won’t be able to trade there as well.
Users will have to follow the conversion process for converting their $SCLP to $EMYC on our official conversion portal.
$SCLP to $EMYC Conversion Portal
The conversion portal link is live - https://convert.emoney.io/welcome
Image - Above conversion portal is for illustration and representation purposes only, and final conversion portal will differ in terms of additional features being added.
The conversion portal is simple to use and you will be able to convert your $SCLP to $EMYC in a few easy steps.
Click on https://convert.emoney.io/welcome , you will be able to connect your web3 wallet such as Metamask where you have stored your SCLP tokens to the conversion portal. If your tokens are on centralised exchanges, then you can withdraw them to your web3 wallet first to start the process. (If you have our $SCLP tokens on Kucoin and Gate.io, you don’t need to follow the conversion process and Kucoin will take care of it from their end)
Once the wallet connected, as per image illustration above you can see your current SCLP balance and respectively how many $EMYC tokens will be vested as per the representative TGE date (Important note- TGE date and following vested dates on the conversion portal are purely for illustration purposes, and final TGE date will be announced in due time)
Although the conversion portal is live, users will only be able to get $EMYC on and from the date of TGE. The conversion portal will show the tokens that will be able to receive on TGE and the vesting thereafter.
As we mentioned in our acquisition blog, we are setting a 1:1 exchange rate for SCLP to EMYC for all holders. Once all the tokens are vested, you will get your EMYC tokens in a 1:1 ratio. At TGE, $SCLP holders will receive 12% of their converted holdings immediately with the remaining balance over first five months at 14.67% monthly and on sixth month at 14.65%.
$SCLP token holders will also always have the option to convert their $SCLP tokens to $EMYC with no expiration date. Vesting begins on the TGE date. If a user migrates their tokens later than that date, the vesting schedule will shorten accordingly.
$SCLP Delisting
$SCLP token is currently listed on KuCoin, Gate, LBank, MEXC, Toobit and Bitget Exchanges, and the scheduled SCLP delisting date on all above exchanges is 22nd November 8 AM UTC . Kindly note that the $SCLP liquidity pool on the BSC chain will also cease to exist during that time. Every exchange where SCLP is listed has their own specific criteria and they will announce the delisting officially from their end on their twitter handles. Please keep an eye on the official social media handles of the exchanges which hold your $SCLP tokens for updates regarding the same. We will also share details on the delisting process of every exchange here on our official channels.
Looking forward to your support for $EMYC journey!!
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