XCN Token Launch & CHN Burns

The new Chain Token smart contract has been deployed to the Ethereum main network after a successful audit from CertiK. The new token smart contract implements native on-chain governance, which the original contract lacked, and changes the ticker to XCN from CHN, and will re-denominate the token at a ratio of 1:1,000.

With the passing of CIP-2 the new total supply of CHN has been reduced to 68,887,533 after the successful burn of over 31 million units of CHN resulting in a 30% supply decrease worth over $2 billion dollars at current market prices. The re-denomination plan for Chain token will be done via the XCN Token Smart Contract. You simply transfer CHN through a normal ERC20 transfer utilizing any non-custodial wallet* and you will automatically receive XCN back at ratio of 1,000 XCN to 1 CHN. The snapshot governance module will be updated to the new token smart contract.

This bridge will be trustless and fully decentralized and can be utilized at any given point so there is no deadline on when to perform the token swap. Please ensure you only interact with the given smart contract address or leave your CHN on digital asset exchanges who will handle the swap on your behalf.

Click here to get XCN Token Swap Instructions