Token Swap Process — From Old tokenized asset to New tokenized asset

PayPDM
4 min readOct 9, 2021
Token Swap Process by PYD

In accordance with the Token migration development, PayPDM releases the extensively deliberated token swap process for the community and crypto majority in general.
For the maximization of our non-centralized financial services provision, we extended our medium and allocations to aid efficiency on decentralization, low-fees, instantaneous transaction, user oriented and user flexibilities.

The token swap process is for priority hodlers which consist of the old token hodlers from the social activities, contribution and early phase.
The Token swap process commences from
October 30th, 2021 14:00P.T to December 01, 2021.
If you didn’t take part of these process within this date, the auto-swap would end while the use of the manual swap would be opened forever.

Token Swap Ratio - 1:1

Token Swap Process:

Currently, the use of address capturing which holds $PYD value would be duly acknowledged. Making it easier for the community to have a cushy token swap with simplicity and effectiveness.
This address capturing will kick into effect 7 days before the token swap process, dated from October 23rd, 2021.

Only address with ‘‘$PYD value’’ would be acknowledged and eligible for the token swap process. There would be a two swap process which includes the auto-swap and the manual-swap.

Auto-Swap
During the address capturing period, the auto-swap dapp would be official released on the official website and other official platforms. This auto-swap is being implemented for token swap processing with few clicks.
This also has an applied vesting schedule in accordance with the token migration development.

How to use;
Connect your wallet which holds the old tokens (erc20).
Click to transfer old tokens.
Review your new tokens.
Click to approve.
Viola! You just swapped your old tokens

Manual-Swap
During the address capturing period, the manual-swap short form would be official released on the official website and other official platforms. This manual-swap is being implemented for token swap processing with a snap of the finger.
This also has an applied vesting schedule in accordance with the token migration development.

How to use;
Open the short form.
Input your required address(es).
{Ethereum & Smart chain address}
Copy our official ethereum address.
Send your desired ‘‘$PYD Value’’ to the official address
Attach the transaction hash link or picture proof.
Viola! You just swapped your old tokens


PYD Value on DEX
(Before and during the token swap process)
+ Remove old tokens from any DEX during the token swap process
+ Add the new tokens on DEX after the token swap process is completed.

PayPDM uses its auto swap process to handle all users heavy swap activites void of difficulties and complication while being positioned to replace old tokenized asset with the new tokenized asset.


Old Token Address:
https://etherscan.io/token/0xE8f8378f02DD54153aA21d93673F291322222714

New Token Address:
{To be updated}

Vesting Schedule
see this for more information

The newly issued tokenized asset is subjected to mandatory locking and this is implemented to help $PYD Value attain its price motive without crashes and also healthy market existence while we complete our new roadmap. To maximize this motive, we released a locking schedule for all old tokenized asset holders

· Old tokens (from 0–10,000PYD) 3m locked

· Old tokens (from 10,001 PYD to 100,000PYD) 6m locked

· Old tokens (from 100,001 PYD to 10 Mill PYD) 12m — 18m locked

· Team 18m — 24m locked

*m — months

N.B
After the token swap is duly completed; there would be no support for further swap at later dates exceeding the proposed token swap date.
We moved from the Ethereum tokenized platform to the Binance Smart Chain network.
With effects from Sept 27th 2021, the old tokenized asset on the ethereum would be subjected to an indefinite collection and token burn.

Frequently Asked Questions

Why was there a long wait before the token swap?
The implementation of firms restructuring was underway and there was an indefinite suspension of token swap to be void of uncertainties.

How does the vesting schedule works?
During this token swap which moves from the old tokenized assets to the new tokenized assets, the use of vesting schedule was also being implemented in accordance with the token migration developments to help create a strong market existence without a drastic price fall after our entry into the market exchanges.

If I don’t do the token swap, do I loose my $PYD ?
No you wont loose your $PYD Value.

Is the token swap compulsory?
No, this is not compulsory.

Why can’t the token swap happen without me having to do a thing?
The old tokenized asset is not available on some centralized exchamges, if it was available then we see no reason to have you do the swap process but this old tokenized assets are currently on your wallet which has no third party access, Hence the reason for allowing users or the community interact with our auto-swap or manual-swap.

Why the need for token swap ?
We need the old tokenized asset out of circulation since its rendered void.

Need more help or inquiries concerning the token swap?
Our dedicated email support — tokenswap@paypdm.org

PayPDM is a leading decentralized crypto financial firm aimed at the improvisation and standardization of cryptocurrencies in every day life through the use of its financial products and services hereby providing basic services available on traditional finance on the blockchain platform.
PayPDM is part of the Xeraza Media, on which services are been administered and effectualized.

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PayPDM

PayPDM is a decentralized financial firm for the standardization of cryptocurrencies through the use of blockchain based developments. https://www.paypdm.org