Nimiq is the first browser-based blockchain and aims to be the most user-friendly payment system. The successful launch of Nimiq’s mainnet on April 4, 2018, resulted in the creation of the native NIM token.
Ever since the mainnet went live, holders of the old ethereum-based (ERC-20) NET token (used for project crowdfunding) have been asked to claim their new NIM tokens. This activation process will end on Friday, 30th of November (3:00 PM GMT). After this, the NET token smart contract will be terminated. This means that no further NET transactions can be made after this date. NET token holders should also be aware that exchange delistings and the termination of exchange trading may happen at any time before the deadline.
There have been three previous deadlines and seven months for token holders to activate their NIM. Recently, the Nimiq team extended this deadline to the 30th of November to give token holders a final chance to claim their NIM tokens. Currently, 1,800 NET wallets containing 23.9% of the original circulating NET supply is left to be activated.
NIM Activation will be done at an exchange rate of 1 NET token for 100 NIM tokens. NET holders should know that they will need to pass a KYC process and that activation can be done through the official Nimiq site.
Need More Information On NET Token Activation?
Further information and guidance on NIM activation can be found on Nimiq’s official blog.
Nimiq have also raised concerns over bad actors trying to exploit the NIM activation deadline. NET token holders should be aware that some people may attempt to impersonate the project for financial gain. This means the only fully trusted sources of information should be:
- The Nimiq official website: https://nimiq.com
- The projects official Twitter account: https://twitter.com/nimiq
- Nimiq’s official blog: https://medium.com/nimiq-network