ICON FAQs - Learn more about ICX
All you need to know about the ICON ICX inside your Exodus wallet.
In this article:
What is happening to ICON (ICX)?
The ICON (ICX) token was initially created on the Ethereum (ETH) blockchain and later on moved to its own blockchain. Due to this swap, the old ICON tokens are now frozen on the Ethereum blockchain and the same is reflected inside Exodus. The old Ethereum-based ICON will be called ERC20 ICON and the new ICON will be called Mainnet ICON in this article.
Starting 18 Jun. 2018, the ICON team began the process of swapping ERC20 ICON to Mainnet ICON using various methods as can be seen on this official announcement page.
All these swap procedures had their own deadlines and currently, only the official ICONex wallet swap method is active. The official swap ended on 26th December 2018. It's should still possible to swap, though you should contact the ICON team to make. They respond most quickly on their channel on the messaging app Telegram.
Once they confirm that the swap is still active, you can follow the steps below in order to swap your ERC20 ICON to Mainnet ICON.
How do I swap from ICON (old) to the new ICON (ICX)?
- Move all your Ethereum (ETH) and other Ethereum-based ERC20 assets to another wallet - this is for the safety of your own funds since we will be using your ETH private keys in the next steps. Only keep 0.5$ worth of ETH, which will be needed in a later step.
Export your Exodus ETH wallet private key by following this guide.
Please be very careful with your private keys!
- Use the official ICONex Wallet to open your Exodus ETH wallet using the private key you just exported. The ICONex wallet, which is a chrome extension, can be found on the Official ICON website.
- On the following step, make sure to select Ethereum (ETH) from the dropdown.
- Once you have your Exodus ETH wallet open in ICONex, make a 0 ETH transaction to 0x4c35b228dd2027acd4a229cd21c1b33d3a57c509 - this is an ICON foundation address, do not send any non-0 ETH transactions to this as money sent to this address cannot be recovered.
- You have now registered for the ICON Mainnet token swap, the ICON team will send you the ICON Mainnet, which should appear in your ICONex wallet. However, it may take up to a month - the ICON team will be able to advise you exactly how long it would take.
You can also reach out to [email protected] for more details or assistance about this entire process, or send us an email here at Exodus and we'll gladly help out as well.