FAQ - Frequently Asked Questions

ECOIN current contract is very limited for a variety of reasons.

As was considered common practice 6 months ago, we created ECOIN with a very large supply of 1 Quadrillion, which currently makes it difficult to enter in large Exchanges. Also, the limitation of our contract does not allow us to adjust the fees for recharging function of the upcoming debit card, update route address (for future Pancakeswap updates), withdrawal tokens from the contract sent by accident or disable tokenomics fees for events specials and more.

• Supply Reduction: The total supply will be reduced, this will improve the protocol's prospects for the future. With the 1,000,000:1 (from 1 quadrillion to 1 billion) supply reduction. We will also be easily qualified to enter major Exchange TOP 10 as per step 6 of the roadmap.
• Futuristic vision: As a futuristic company that always values ​​innovation, technological development and humanity, aiming at stage 6 of the roadmap, the ECOIN v2 contract will be adapted for the new Metaverse insertion projects and own DEX (Decentralized Exchange).
• Even more confidence: The new v2 contract will be audited by Certik, recognized as the world's largest crypto asset auditing firm.
• Improved security: Contract security has been improved and written in the latest Solidity version 0.8.9.
• Precaution: Withdrawal function has been added to recover BNB and other tokens sent to the contract accidentally. Although we cannot retrieve the tokens sent to the current ECOIN V1 contract address, but fortunately this will no longer be an issue in ECOIN V2.
• More flexibility: We will have more flexibility in adjusting fees for special events and for specific contracts giving the ability to integrate more products into the ECOIN ecosystem and a hard limit on how high we can set the rates has been incorporated for added security.
• Native burning function: The new v2 contract will have a dedicated token burning function, which can be adjusted to speed up the burning process, that is, in ECOIN v2, in addition to the reduced supply, the burning of tokens will be greater than in the old ECOIN contract v1 which was from transaction reflections only.

When the migration starts, a snapshot of the address of wallets and balances will be taken, the price of ECOIN v1 at this time will be used as the opening price v2 (price lock). The v2 tokens will be redenominated as follows: 1,000,000:1.

Amount tokens example from v1 to v2:
If you have 150,000,000,000 (150 billion) of ECOIN v1 worth $1,000
You will have: 150,000 (150 thousand) of ECOIN v2 worth US$1,000

Pricing example from v1 to v2:
If the price of ECOIN v1 today is $0.0000000045, the new price of ECOIN v2 will be $0.0045.

We communicate for 1 month on all our official social networks that we will migrate to ECOIN V2. The migration period will be from the day 20/03/2022 to 26/03/2022.

First, make sure you have the required amount of BNB (Binance Smart Chain token) in your wallet for the swap to be successful, typically the amount can range from $0.50 - $0.70 gas fee in BNB. This is a mandatory blockchain gas fee, so ECOIN does not have the power to control this.

No, there will be no cost on the part of ECOIN to migrate. Your total amount of ECOIN v2 will be equal in value to the initial ECOIN v1 after migration, as exemplified in QUESTION 3.

• For holders that have ECOIN on Centralized Exchange (CEX) IndoEx, the migration process to ECOIN v2 will happen automatically once the migration starts.
• If you are keeping your ECOIN tokens in a wallet like MetaMask, Trust Wallet, or Ledger (hardware), you will need to manually migrate your holdings via the migration dApp on the official website of Ecoin Finance.
• Have ECOIN in a hardware wallet (offline), we recommend that you connect your wallet to a decentralized wallet like MetaMask or Trust Wallet to do the manual migration process in the migration dApp

We will give holders the opportunity to migrate for a considerable period of 1 week, as we have started communicating the migration to holders 1 month in advance on all our official social networks.

We recommend migrating to ECOIN V2 within the given period, as anyone who maintains an investment in ECOIN V1 after the migration period will have a high exposure to the risk of losing it. But for those who couldn't see the migration announcement, contact us by Telegram or E-mail so we can help you in the best way possible.

NO, It is important to note that wallets will only be able to migrate ECOIN once. This will prevent malicious attempts to circumvent the system by migrating to v2, buying additional ECOIN v1 at a lower price, and trying to migrate again.

⚠️ New purchases in ECOIN v1 after taking the snapshot cannot be migrated to ECOIN v2. Migrate to ECOIN v2 immediately to minimize any potential risk or loss.

Eligible wallets for migration must have to be more than 309,478,000 (million) of ECOIN v1, referring to $1 USD Based on the snapshot, the migration dApp will find out exactly how many ECOIN holders are eligible to migrate .

⚠️ The migration dApp will be released on day 20/03/2022 until the final day of migration which will be on the day 26/03/2022.

• Step 1: First, make sure you have the required amount of BNB Bep20 (Binance Smart Chain token) in your wallet for the swap to be successful. This is a mandatory blockchain fee, ECOIN does not have the authority to control this function unfortunately.
• Step 2: Access the migration dApp and connect your wallet, such as Trust Wallet and MetaMask.
• Step 3: After connecting, a “Green Note” will appear on the top bar, confirming that you are eligible for migration and below it will appear the total amount of ECOIN v1 tokens you have in your wallet at the time the snapshot was taken and the amount of ECOIN v2 tokens you will receive.
• Step 4: Click on the “approve” button to proceed with the migration.
• Step 5: Click the “migration” button for the migration dApp to start the exchange.
• Step 6: A notification of approval of switching your Wallet will appear. Click to approve the exchange.
• Step 7: After performing the previous steps, the migration was successfully completed, Congratulations!
• Step 8: After migrate ECOIN v1 to v2, MetaMask users can add the ECOIN v2 token to their wallets by clicking here. Trust Wallet users can also add it manually coping the following contract address: 0x7d38315b92d0e7a85b35b2b7fe969b25935619d7 and pasting it in “Search tokens”.

If our FAQ was not able to answer your question, do not hesitate to contact us, we will be happy to help you through our community on Telegram.