CTI 2.0 Token Swap Update
A big hello to all the ClinTex CTI community!
This is an quick interim update to get you all up to speed on where things currently stand with regard to the upcoming token swap upgrade which will bring the CTI token into the cross-chain era.
We had initially planned to have the rollout ready in the first weeks of January however both the new contract and the swap portal itself required a little more battle testing than we initially predicted and owing to the nature of the operation, we had to ensure things were absolutely 100% perfect before we decided to push forward.
We’re now happy to report that we’re almost ready to continue with the rollout!
Part of the reason for initiating the token swap upgrade was to give our users more flexibility when it comes to interacting with the CTI token, mainly due to network congestion which the Ethereum blockchain is currently suffering causing a spike in gas fees, which by proxy is greatly restricting the flow and ease of use for anyone wanting to interact with ERC20 tokens such a CTi on the network.
There will be three ways to port your current CTi tokens to the upgraded CTi 2.0 token.
- Through the token swap portal on https://clintex.io . Any CTi holder can connect to the CTi token swap portal using Metamask and complete the swap through the token swap smart contract. We will release a full step-by-step guide for this method before go-live.
- CTi on Ku-Coin — you don’t need to do anything, KuCoin will support the token upgrade and all CTi on KuCoin will be automatically upgraded to CTi 2.0 on the day of the change over.
- CTi on Gate.io — you don’t need to do anything, gate.io will support the token upgrade and all CTi on gate.io will be automatically upgraded to CTi 2.0 on the day of the change over.
Gas Fees for the Swap
The least gas-intensive way to complete the swap is for users to simply deposit their CTi to Ku-Coin or Gate.io and allow the exchange to automatically complete the upgrade on your behalf.
This is because the token swap transaction calls more functions in the swap contract (costing gas), than a simple transfer to one of the upgrade supporting exchanges. The supporting exchange will not charge an additional fees to conduct the swap.
With this in mind, swapping via a supporting exchange is the method we will recommend for most users (especially for those with smaller holdings of CTI).
Multi-chain Future
Once the swap process is complete, we will be enabling an Ethereum-Polygon, Ethereum-BSC and Ethereum-Solana bridge for the new version CTI2.0 tokens.
This will enable our community to transact CTi over alternative L1 and L2 networks with almost non-existent fees in comparison to working via the Ethereum network.
We are also working with the CTi supporting exchanges to roll out deposit and withdrawal of CTi on Solana, BSC and Polygon.
And finally, CTi will be launched for trading on Raydium DEX on Solana soon after.
We will continued to add more bridging and layer 2 options for CTi regularly going forward.
ClinTex, as ever, believe in interoperability and that the future of digital assets is cross-chain and blockchain agnostic. CTi 2.0 is our preparation for that future.
More updates will be released in the coming days with the final proposed token swap dates so stay tuned everyone!
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