Our voting on the CAS token swap has started and will run until 15th June 2019 12:00 PM GMT, or if holders of more than 370 Million CAS tokens have voted for any one option.
Please read our previous article HERE for all details on the voting mechanism, and also have a read through the following FAQ:
What to do if your tokens are at an Exchange?
- Login into your exchange account.
2. Withdraw them to your Cashaa Account and complete the KYC.
3. In case of any issue, raise a helpdesk at the respective companies.
Note: If you are not able to withdraw your tokens on time you will not able to participate in the vote with exchange tokens, but still you will able to get the new CASHAA token in case of SWAP happening. Detailed information on this will be given in the case the community decided to go with SWAP.
How will the voting process work?
Please find the article with the instructions. If you are voting from your Cashaa wallet, it will look as follows:
What if the SWAP vote succeeds?
- All existing CAS tokens will be discontinued from the Cashaa ecosystem and the new CASHAA token will be implemented.
- CAS tokens in the hands of criminals (by hacking, phishing, scamming, etc.) will become obsolete (without KYC) and will not cause any effect on the market price.
What will happen to the recovered funds?
- 50% of funds will be used to cover the cost of the SWAP.
- 25% of the funds will be returned to the victim.
- 25% of funds will be distributed among the voting participants. These funds are the reward for active participation and will be sent to your Cashaa wallet and will be locked for 12 months.
Do you need to be worried about your existing tokens?
- If you have your keys protected, you should not be worried. Make sure if you have an account with 2FA to please enable it.
- If you have purchased the tokens at the token sale or at any exchange, then there is nothing to be worried about.
- Only the criminals are targeted and they won’t benefit from the SWAP.
What if the SWAP will not happen?
- No change will happen, everything will continue as it is.
- The criminals will get away with the stolen CAS tokens.
- These criminally obtained CAS tokens can be dumped anytime in the market and most probably cause a further price crash.
Is this happening the first time in crypto?
No, swapping and forking are common events. The biggest example so far is the DAO hack. The Ethereum Foundation decided to vote and due to the result of that Ether was hardforked. Swapping can also happen due to many other reasons, such as migration from one chain to another. In an example, BNB is now migrating from ERC20 to Binance chain, Kim Tokens is swapping to Kim Chain. There is nothing to feel uncomfortable about the situation.
How will you get new CASHAA tokens (Only in event of SWAP)?
- The Swapping process will start on 18th June 2019 at www.cashaa.com
- CAS (existing tokens) will be sent to burn smart contracts.
- If your tokens are present at MEW/MetaMask/hardware wallet/Cashaa wallet/any decentralized wallet, you will receive 1 CASHAA for 1 CAS(1:1) at the same address through which you send your tokens to burn contract.
- If you have CAS locked for the Cashaa plan it will be unlocked after voting to send to the burn contract and new tokens will be locked on the same address, to not disturb your staking plan.
- If you have tokens at any centralized exchange, withdraw them to your Cashaa account and complete the KYC before sending the tokens to the burn contract.
Note: In case you are not able to withdraw your tokens nothing to worry about, we can credit an equal amount of new CASHAA tokens which is present at the exchange into your Cashaa wallet. However, you will not able to use these tokens for voting.
- You have to send only 0.1 CAS, do not send the complete CAS.
- Please withdraw your tokens from the exchange and move it to your Cashaa wallet or any on-chain wallet. Votes sent from an exchange address will not be counted. Update 7 June: We have informed all exchanges to re-enable withdrawals. Please follow our official Telegram group for the latest updates concerning withdrawals.
3. If you transfer your tokens to another address after voting your vote will be not counted.
What if less than the holders of 370 Million have voted?
In this case, we will also go forward with what the majority of the existing voters have voted for.
How long will the swap process take?
From 12th June on, we will enable a fee-free swap for at least 90 days, and then we will introduce a minor fee for latecomers.
What’s the current voting result?
For the latest status, see here.
Thanks to all who voted so far!
The Next Generation Banking Platform