Bitkub Exchange to support network migration and token name change of LUKSO (LYXe) to LYX on Mainnet

Due to the launch of LUKSO Blockchain (Mainnet) which resulted in network migration and the change of the token’s name from LUKSO (LYXe) to LYX (reference), Bitkub Exchange will prepare the system to support such changes to enhance the features and efficiency and for the benefit of our customers. Please see the details below.

Change of network 

• Current network: Ethereum Network (ERC-20)

• New network: LUKSO Blockchain (Mainnet) 

Change of token’s name

• Current token’s name: LUKSO (LYXe)

• New token’s name: LUKSO (LYX)

Change of logo

• The logo of the LUKSO token that will appear on the platform of Bitkub Exchange is as shown below.

Related procedure

To support the changes mentioned above, Bitkub Exchange will need to swap the LYXe tokens to LYX on the LUKSO Blockchain (Mainnet) according to the following details.

1. Trading, deposit, and withdrawal of LYXe on the Ethereum Network are available until 2 May 2024 at 10:00 AM (GMT+7) only.*

• After 2 May 2024 at 10:00 AM (GMT+7), the trading, deposit, and withdrawal of LYXe will no longer be available.

• Any pending buy-sell orders of LYXe on Bitkub Exchange that are not yet matched by 2 May 2024, 10:00 AM (GMT+7) will be canceled automatically.

2. After 2 May 2024 at 10:00 AM (GMT+7), any remaining LYXe tokens in the wallets on Bitkub Exchange will be swapped to LYX tokens on the LUKSO Blockchain (Mainnet).

• Bitkub Exchange will prepare a snapshot to record the LYXe balance starting on 2 May 2024 from 10:00 AM (GMT+7) onwards to swap the LYXe tokens to LYX on the LUKSO Blockchain (Mainnet). During the token swapping process, the LYXe wallet balance will appear 0.

• The LYXe tokens will be swapped to LYX on the LUKSO Blockchain (Mainnet) at a ratio of 1:1 (1 LYXe : 1 LYX), and the LYX tokens will be stored in the LYX wallet.

• Bitkub Exchange will announce the schedule for LYX deposit, withdrawal, and trading activation once the swapping process is complete. The LYX balance that will appear on your LYX wallet will be the total balance** of LYXe tokens held on the date and time of the snapshot.

Example

Your total LYXe balance = 100 LYXe (old token) on the date and time of the snapshot. Once the withdrawal of LYX is activated, you will see 100 LYX tokens in your new LYX wallet.

** Total balance = tokens that are not in any order (available) + tokens in buy, sell, or withdrawal order (in order).

3. After the LYX deposit is activated on Bitkub Exchange, you can deposit LYX through the LUKSO Blockchain (Mainnet) only.

• To prevent asset loss and for continuity of transactions, please create a new LYX wallet address on the LYX deposit page after the LYX deposit is activated on Bitkub Exchange, and use this new wallet address for your future LYX deposits. (Learn more about how to create a new wallet address.)

• If your LYX deposit does not follow the service criteria, your assets may be lost or not appear in the destination wallet. In this case, you can contact Bitkub Support for assistance with asset recovery. However, Bitkub Exchange does not guarantee that the asset recovery will be achievable.

If you do not consent to Bitkub Exchange to swap your LYXe tokens to LYX, please carefully manage your assets before 25 April 2024 at 10:00 AM (GMT+7).

Schedule

• Deactivation of deposit, withdrawal, and trading of LYXe (old token)

2 May 2024 from 10:00 AM (GMT+7) onwards

• Network migration and token swapping from LYXe to LYX

Starting on 2 May 2024 at 10:00 AM (GMT+7) onwards

• Activation of LYX deposit (new token on Mainnet)

Will be announced further. Please stay tuned for our updates.

** Please use the wallets that support the currency and transfer via the LUKSO Blockchain (Mainnet) only.

• Activation of LYX trading and withdrawal

Will be announced further. Please stay tuned for our updates.

Remarks:

• Please follow us for official updates and consider managing your LYXe holding properly before the deactivation of deposit, withdrawal, and trading of LYXe according to the aforementioned schedule.

• Bitkub Exchange reserves the right in its sole discretion to amend or change these announcement details, and we will notify you further if there is any change.

• The prices of LYXe and LYX may differ. Please manage your assets carefully before we swap the remaining LYXe on the system to LYX tokens as per this announcement. You can check the international market price of LYXe here and for LYX here.

• The asset price may fluctuate due to the market mechanism. Please do research and make a careful investment decision. 

• The criteria and conditions mentioned in the referred announcement of the LUKSO team are determined by the LUKSO team solely.

• Cryptocurrency investment is classified as a high-risk investment. Before making investment decisions, please consider the risks and invest wisely. 

Thank you for your trust and continued support.

* Adjusted schedule from 25 April 2024 to 2 May 2024.