The new IoTeX native token and existing IoTeX ERC20 token will co-exist for 3–6 months (until Gravity Chain launch in Q3/Q4 2019). For now, the ERC20 token will be used for staking/voting on Ethereum and will be tradable on exchanges (i.e., Binance, Bittrex, Upbit), while the native token will be used for running transactions and smart contracts on the IoTeX Network. After the launch of Gravity Chain in Q3/Q4 2019, we will facilitate an official ERC20-to-native token swap via mainstream exchanges. Until then, options for token holders to two-way swap their tokens 1:1 include:
- ERC20-to-native: leverage our Ethereum-IoTeX bridge to swap via smart contract — just send ERC20 tokens to an Ethereum smart contract and the corresponding amount of native tokens will be sent to your IoTeX address
- Native-to-ERC20: use our micro-service iotex-tube — just send your native tokens to a specific IoTeX address, and the corresponding amount of ERC20 tokens will be sent to your ETH address.