Exchange - Where fiat goes for æternity


#1

Since the token & coin have the same symbol AE how can one tell if the exchange is trading the token or the coin???

E.g., what does Gate.io trade???
https://www.gate.io/trade/ae_btc


#2

Hi @Aurum,

The best way to know is to ask the exchange directly.

Gate.io is trading the Mainnet token, check this spread sheet where we are listing the exchanges that currently support the mainnet AE token:

Best,
Albena


#3

Never thought about it as I’ve been here just for a little time in crypto. Can you please explain it to me? A token is a thing used by ICOs and a coin is like BTC, isn’t it? But Why does it matter? I mean, you can find info on a particular asset to know more about it. Seems like I’ve mixed all the things up and would be glad if you could clarify it for me.


#4

Hey @Snowflake,

æternity is now in a particular state, where we have two AE tokens at the same time.

Initially, when we ran our campaign, we issued AE ERC-20 tokens, i.e. on the Ethereum network.
Now, since we launched our own blockchain, those ERC-20 tokens should be burnt and transferred for AE Mainnet tokens.

The first phase of this so-called migration was implemented before the Mainnet was launched and around 90 million tokens were migrated. Currently, we are in the second phase of token migration that will end with the first hardfork of the æternity blockchain, scheduled for mid-February.

So, those two types of AE tokens are currently both in circulation. Some exchanges trade the AE ERC-20 tokens, while others support the new Mainnet token. We expect more exchanges to support the Mainnet token in the coming weeks and to execute the migration on behalf of the users.

I hope that helps, let me know if you have more questions :wink:

Best,
Albena


#5

Thanks but I’m more confused now. So Gate.io is running AE wallets on both blockchains???


#6

Well, yes, Gate supports both the ERC-20 and the Mainnet token.
Look here: