We have some exciting news about the Phoneum PHT token: we will be migrating to the Tron blockchain as a TRC10 token! While Ethereum has been a reliable home for many project tokens, including ours, the growth of the blockchain industry has increased the cost of sending and receiving cryptocurrencies. The Tron blockchain is made with gaming in mind, allowing for faster and cheaper transactions.
We look forward to this because of the benefits it will provide our users:
- Virtually free or low-cost transactions for regular users
- About 10 transactions for free each day using “Bandwidth” instead of TRX
- Faster transaction times
- Instant support for the PHT token in all of the popular Tron TRX wallets that support TRC10 tokens
Because of these and other benefits of using the Tron blockchain, we will also be able to:
- Reduce withdrawal limits for PHT
- Allow withdrawals every day instead of weekends only
Users can swap their Ethereum-based PHT for Tron-based PHT in one of two ways:
1) Send your ERC-20 PHT to the Probit exchange. Deposits and withdrawals will be closed starting Thursday, July 23, at 10:00 EST. PHT will be automatically swapped by the exchange.
2) Deposit your ERC-20 PHT into one of the Phoneum apps. All of the apps will have an added option to Migrate PHT by depositing it into your account; it will be automatically swapped for TRC10 PHT tokens. For a limited time, the withdrawal fee will be reduced to 0%.
Along with this, we will also be making major adjustments to all databases. These changes will reduce the bandwidth and data required by the apps and games, thus reducing the burden on the user’s resources. To make this change, we will be placing the apps in maintenance between Wednesday, July 22, at 15:00 EST (3 PM) and Friday, July 24, at 17:00 EST (5 PM). If more time is required to complete the upgrade, we will make an announcement on Thursday around 12:00 PM (noon).
All of these changes will be live in the apps when the maintenance window is completed (Friday, 5 PM).
Thank you for your support! We look forward to sharing more details soon.
The Phoneum Team