Reminders Regarding Token Swap, Lock Dates, and Rewards

2018-07-22 10:10
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1. Early Bird X Node Rewards

  • The ‘Early Bird X Node Rewards’ event is applied to the addresses entire VET balance. This assumes the node complies with all requirements of X Nodes stated in VeChain Apotheosis Part II and X Node Program. The VeChain Foundation reserves the rights to determine an X Node’s status based on publicly available documentation;

  • For participating X Nodes: monitoring starts as soon as each wallet receives the first installment of rewards;

  • Rewarded X Nodes will have to keep the minimum VET balance of the full amount seen in previous reward snapshot. The value necessary is not the minimum of the X Node tier but the balance snapshotted for each reward issued during the event. These balances are required until September 1st or a node will lose the designated X Node status.

2. X Node Binding Deadline

  • The deadline is 12:00 UTC+8 on August 10th;

  • The ability to bind your X Node will not be available after August 10th;

  • Anyone looking to bind after August 10th will result in the loss of the X Nodes status;

3. Node Monitoring Resumption Timeline

  • For X Node holders who do not choose to participate in the ‘Early Bird X Node Rewards’ event, monitoring will start at 00:00 UTC+8 on September 1st;

  • Economic Nodes will begin being monitored at 00:00 UTC+8 on September 1st;

  • You are still required to bind your X Node prior to 12:00 UTC+8 on August 10th;

Edit on July 27th:

  1. Do not use an Observer Address to Bind. This feature will be used to bind hardware wallets in the future, when supported.
  2. For X Node holders, after successfully binding your X Node, you can:

(1) Swap your ERC20 VEN by using 3rd party exchanges, and store your swapped VET in the VeChainThor wallet before the X Node monitoring resumes at 00:00 UTC+8 on September 1st;

(2) Use the VeChainThor mobile wallet to complete your token swap when the service becomes available on August 10th.

3. If you make mistakes using the VeChainThor Mobile Wallet, please email for further assistance.

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Note to Ledger Users:

We have been in contact with the Ledger team and have a general idea of the launch of their wallet. The listed dates coincides with those suggested dates. Like any technical implementation, launch dates can be postponed for additional screening and testing. If you are waiting for the Ledger support to arrive and it is not made available prior to the August 10th deadline, please bind your X Node in the mobile wallet or you will lose your X Node.

There will be means in the future to transfer your X Node to a Ledger (or any third-party) Wallet.

We respect Ledger’s ability to take as long as they see fit to ensure the quality of their product. Ledger is a 3rd party service and device. We have our own deadlines with clients and have completed the proper security testing of our wallet. We are aware many people feel more secure with their Ledger device but we cannot sacrifice our road map.