Klaytn's official network upgrade involves a token migration where existing KLAY tokens will be swapped for new KAIA tokens at a 1:1 ratio. This platform will fully support this swap process to ensure a seamless transition for all users. Below is the detailed timetable and key steps for the migration operation.
Detailed Timeline for the KLAY to KAIA Swap
The token swap will be carried out in phases to minimize disruption and ensure accuracy. All listed times are in UTC+8.
⏰ Pre-Swap Preparation Phase
- October 28, 4:00 PM - 6:00 PM: All existing KLAY trading pairs (KLAY/USDT, KLAY/USDC) will be delisted. All open orders for KLAY will be automatically revoked. Related services such as flash swap, copy trading, and trading bots involving KLAY will be temporarily suspended.
🔒 Suspension of Transfers
- October 28, 6:00 PM: Deposit and withdrawal services for KLAY will be disabled. Internal transfers of KLAY between account subtypes will also be closed.
📸 Account Snapshot
- October 29, 0:00 AM (Midnight): A snapshot of all user KLAY holdings will be taken. This snapshot will capture balances in both funding and trading accounts and will be used to determine the amount of KAIA each user receives.
🔁 Token Conversion Period
- October 29, 6:00 PM - October 30, 6:00 PM: The actual token conversion will be executed. User KLAY balances will be replaced with an equivalent amount of KAIA tokens.
After the swap is complete, the new KAIA tokens will be credited directly to your funding account. The timeline for the launch of KAIA trading and the reopening of deposit/withdrawal services will be announced at a later date.
Important Guidelines for a Successful Swap
To ensure your assets are included in the swap, please be aware of the following critical points.
- The snapshot will only record settled balances. Any KLAY deposits that are still in a "pending" state or mid-withdrawal at the exact time of the snapshot will not be counted.
- For users with KLAY in sub-accounts, the resulting KAIA tokens will be distributed to the main account's funding wallet after the conversion.
- A minimum balance of 1 KLAY (excluding any amounts in open orders) is required at the time of the snapshot to be eligible for the swap.
- The conversion process is expected to take approximately 3 to 5 days. During this window, the value of your KLAY holdings will not be displayed in your total portfolio valuation. Once the process is finalized, KLAY will be completely replaced by KAIA and removed from your asset list.
Understanding the Swap: From KLAY to KAIA
This token migration is a fundamental part of the Klaytn network's evolution. The shift to KAIA represents more than a ticker change; it signifies the project's broader strategy to enhance scalability, governance, and ecosystem development. Swaps supported by major platforms provide a secure and effortless way for holders to upgrade their assets without needing to manage complex blockchain transactions themselves.
For those looking to understand the technical details behind the upgrade or to track the progress of the new network, numerous resources are available. 👉 Explore the latest blockchain upgrade details
Frequently Asked Questions
What happens if my KLAY is in my trading account during the snapshot?
The snapshot will include balances from both your funding and trading accounts. You do not need to move your tokens to a specific account subtype; the system will automatically combine balances from both for the snapshot.
Do I need to do anything to receive my KAIA tokens?
No action is required on your part for this supported swap. The entire process, from the snapshot to the distribution of KAIA, will be handled automatically by the platform. Simply ensure your eligible KLAY balance is on the exchange before the snapshot time.
Why is there a minimum balance requirement of 1 KLAY?
This minimum helps ensure the operational efficiency of the swap process. It is designed to filter out dust balances (extremely small, negligible amounts) that would complicate the conversion for a minimal value.
When will I be able to trade my new KAIA tokens?
Trading for KAIA will begin after the entire swap process is completed for all users. The platform will make a separate official announcement once the new trading pairs are launched and deposit/withdrawal services are ready.
Is there any risk or cost to me for this swap?
There is no cost or fee for users participating in this platform-supported swap. The 1:1 conversion is free, and the entire process is designed to be risk-free when holding your assets on the exchange.
Please note that digital assets are innovative investment products with significant price volatility and high investment risk. We strongly advise that you fully understand the nature of these assets, rationally assess your own investment capabilities, and make prudent investment decisions. We remain committed to providing you with excellent products and high-quality service.