HKN to HAI Token Swap Update

On April 29th, 2020 we launched HackenAI 1.0 and the token swap service became available. The token swap service allows HKN holders to swap their HKN into HAI.

During the token swap, users get to decide to make use of a lock-up of their HAI, that allows them to gain access to an improved swap ratio.

At the time of writing this Medium, over 288 users have completed the token swap, 78% of the users decided to select one of the lock-up options, locking up an impressive 84.5% so far.

Token SWAP structure by May 26th

As mentioned in our previous announcement, the ratios to swap HKN into HAI will decrease over time to promote a fast transition towards the HAI token.

Because we have hit our first milestone of swapping over 30% of the total HKN supply, we are going to gradually reduce the swap rate as outlined below:

Starting from June 8th, 2020 the token Swap rate will be the following:

1 HKN = 15 HAI for no lockup (from 1:20)

1 HKN = 17 HAI for 3 mo lockup (from 1:25)

1 HKN = 21 HAI for 6 mo lockup (from 1:30)

1 HKN = 30 HAI for 1 yr lockup (from 1:40)

EOSHKN swap

To swap your EOSHKN tokens to HAI, you need to send your EOSHKN tokens to address — observehabit. And most importantly — write your HAI wallet address in memo (description). After that you will immediately get HAI of 1:1. After July 1st EOSHKN swaps will only be processed once a week.

How to perform the token swap for ERC-20 HKN:

  1. Download the HackenAI App
  2. Sign up
  3. Click on the wallet icon in the lower right corner
  4. Click on the HKN logo
  5. Click on the Swap button in the upper right corner
  6. Send your HKN ERC-20 tokens to the address provided in the Application
  7. Choose the lock-up option. The Application will propose you the most appropriate lock-up option based on your HKN balance available.
  8. Receive your new HAI tokens directly to your HackenAI wallet. If you choose to lock-up your HAI you will see when the lock-up expires and your HAI tokens will become available
  9. Locked tokens will automatically be released by our smart contract after the lock has ended.

More information on the token swap can be found here.

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