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Token Swap Conclusion

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Hello OPEN Community,

We would like to announce that the token swap has concluded! The swap is executed and the new OPEN Chain tokens are distributed from the following token contract:

0x9d86b1b2554ec410eccffbf111a6994910111340

Here are the circulating and non-circulating supplies for the original and new token contracts:

Original Token Contract Circulating Supply 436,114,139  tokens
Original Token Contract Non-circulating Supply 563,885,861 tokens
Original Token Contract Total Supply 1,000,000,000 tokens
New Token Contract Circulating Supply 638,387,124 tokens
New Token Contract Non-circulating Supply 1,107,059,921 tokens
New Token Contract Total Supply 1,745,447,045 tokens

 

To be thorough and allow for any remaining issues to be fixed, a pool of over 358,000,000 tokens has been set aside: 0x6b957db2a1911b2fdf4c86932f92ff65f3d61bc1. This token pool will be used to make any necessary corrections after distribution and to distribute the utility token to private sale participants that had not fully vested their tokens before the swap. Tokens not used, which we predict will be the vast majority, will be provably burned. We currently cannot know the exact number of tokens to burn as there may be remaining issues to fix. After any remaining issues are fixed, we can begin the burn process. We will provide details on the token burn process, including a burn schedule and amount, in a future update.

Please note that the supply for our OPEN Chain token contract is currently 1,745,447,045 tokens. This supply is based on the number of token holders that signed up for our three respective snapshots (1.5x, 1.75x, 2x) and held until the swap. The total supply is currently inflated due to the creation of a pool as insurance for any problems during distribution. Again, these tokens will be burned after we find no issues exist and after we have fully vested all of our utility token private sale participants that were subject to a much longer lockup.

Community members have the opportunity to report issues, if any, so that manual corrections can be made if needed and appropriate. To report issues, please fill out this Google form by Monday, March 18, at 11:59 PM PST:

https://goo.gl/forms/S2I7HDMcAF2xtzqL2

We will review the form responses and make necessary corrections, if any, as promptly as possible.

Thank you for your patience throughout this entire process. Varied calculations across tens of thousands of addresses was a complex process and took time. Stay tuned for more exciting technical updates in the near future!

 

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