SWAP of EOS, the detailed procedure

in #eos3 years ago


This article is a translation of my French articles on the EOS SWAP. Sorry about my imperfect English.

Hi everyone, you've probably heard about it if you own EOS, the famous SWAP of EOS tokens to the EOS blockchain approaching.
Binance a reported that they will handle the SWAP for the EOS stored there. But it's better to do it yourself, right?

This procedure applies only if you store your EOS on a wallet which you have private keys. If you keep your EOS on an exchange you will depend totally on them.

Note: this procedure must be done before June 1st 2018, date on which the ERC-20 EOS tokens will be frozen !

Summary of the procedure

Basically the whole procedure will consist in creating a public/private key pair for EOS and linking the generated public key to your Ethereum public key. The public key is what is more commonly called an reception address.
To link private keys you will need to submit a transaction Ethereum so plan some fractions of Ether to finalize the procedure.

Public/private key generation for EOS

To generate our EOS keys a tool is available onGitHub. For an optimal security you can cut your Internet connection the time to generate and register your keys in well protected directory.

Click on Generate EOS key to generate your key pair and well save it, it will be impossible to recover them later !

You should then have this:


EOS and Ethereum public key linking

We now have our key pairs for EOS and they are stored in a safe place. In order to link these 2 public keys, we will have to interact with the EOS smart-contract.
Go to MyEtherWallet in the Contracts tab and search EOS in the list on the right.

You should get this result :


If so, you're going in the right direction! By clicking on the Access option you can access at all the functions of the EOS smart-contract, you need select the Register option.

This is what it should look like :


In Key String simply specify your public key EOS and click Write to save your key in the blockchain.
You will have to generate a transaction for the public key registration, you need do this transaction from the Ethereum wallet which contains your tokens EOS, otherwise it would be useless !

End summary

Once the transaction is completed, the link between your EOS and Ethereum addresses will be saved in the blockchain.
To check that everything went normally, use the Keys function of the smart-contract. Just enter the Ethereum address you linked and *if all working well the smart-contract response should be your public address EOS *.

Once your public keys are linked, in June 2018 the equivalent of your ERC-20 EOS tokens amount will be credited to your native EOS address.
At this stade you just all have to do import the EOS private key into the EOS wallet.*