On December 18th @ 8AM EST the Substratum Token Swap will take place. The new Smart Contract addresses several concerns as well as providing the framework for monetizing the network with release of Production Version 1 of SubstratumNode.

You can view the new Smart Contract at: https://etherscan.io/address/0x8D75959f1E61EC2571aa72798237101F084DE63a

And the Quantstamp Audit Report is available at: https://certificate.quantstamp.com/view/substratum-token

Token Holders do not need to do anything special as the following process will ensure a fully automated migration from the old token to the new token:

  1. The old Substratum Smart Contract will freeze all wallets with tokens in them
  2. The new Smart Contract will then begin processing each wallet and sending out the new tokens

The time this takes to process depends on the Ethereum network, at last count there were 31,337 wallets that need to be processed (*will be checked again at runtime); however, we will keep the community aware of progress as the process progresses.

Important things to know:

  1. Changing from 2 to 18 decimal places to support further subdividing of payments within the network
  2. Burn wallet of 120M tokens will NOT be transferred
  3. Process is automatic
  4. Exchanges will halt deposits and withdrawals while this takes place

The original article can be found here: https://medium.com/@SubstratumNet/substratum-smart-contract-upgrade-token-swap-fd9134027d24