Bitkub Exchange to support token change of GuildFi (GF) to Zentry (ZENT)

Modified on Thu, 25 Apr 2024 at 09:36 PM

Referring to an announcement of the issuer of the GuildFi (GF) token regarding the token change from GuildFi (GF) to “Zentry (ZENT)” (reference)Bitkub Exchange (“Company”) will support this change to benefit our customers and align with the GF token issuer’s guidelines. The changes and related schedule are as follows.

Change of token name and token swap ratio

  • Current token name: GuildFi / Current token abbreviation: GF

  • New token name: Zentry / New token abbreviation: ZENT

  • Token swap ratio: ZENT will be given at 1:10 (1 GF : 10 ZENT).

  • Network: No change as ZENT will also be on the Ethereum Network (ERC-20).


Change of token symbol

  • The symbol of ZENT that will appear on the platform of Bitkub Exchange is shown below.


Related procedure

To support the aforementioned changes, Bitkub Exchange will swap the GF tokens to ZENT according to the following details.


  1. On 25 April 2024 at 10:00 AM (GMT+7), Bitkub Exchange will terminate the deposit, withdrawal, and trading of GF tokens.

  • Any pending buy-sell orders of GF on Bitkub Exchange that are not matched by 25 April 2024, 10:00 AM (GMT+7) will be canceled automatically.

  1. On 25 April 2024 at 10:00 AM (GMT+7)any remaining GF tokens in the wallets on Bitkub Exchange will be swapped for ZENT tokens according to the following details.

  • Bitkub Exchange will prepare a snapshot to record the GF balance on 25 April 2024 from 10:00 AM (GMT+7) onwards to swap the GF tokens for ZENT tokens. During the token swapping process, the GF wallet balance will appear 0.

  • Bitkub Exchange will work with the GF token issuer to swap the GF tokens for ZENT at a ratio of 1:10 (1 GF : 10 ZENT) as per the GF token issuer’s criteria.

  • Once the swapping process is complete, the ZENT balance that will appear on your ZENT wallet will be the total balance** of GF tokens held on the date and time of the snapshot.

Example

Your total GF balance = 100 GF (old token) on the date and time of the snapshot. Once the withdrawal of ZENT is activated, you will see 1,000 ZENT in your new ZENT wallet on Bitkub Exchange.

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

  1. On 25 April 2024 at 09:30 PM* (GMT+7), Bitkub Exchange will activate the deposit and withdrawal of ZENT on the Ethereum Network along with the ZENT trading system. 

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

  • If your ZENT deposit or withdrawal does not meet 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.


AttentionDuring the swap process, you will not be able to submit any transactions of GF tokens until the deposit, withdrawal, and trading systems of ZENT are activated on Bitkub Exchange.


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


Schedule

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

25 April 2024 from 10:00 AM (GMT+7) onwards

  • Swapping token from GF to ZENT (new token)

25 April 2024 from 10:00 AM (GMT+7) onwards

  • Activation of ZENT deposit, withdrawal, and trading

25 April 2024 from 09:30 PM* (GMT+7) onwards

** Please use the wallets that support the currency and transfer only via the Ethereum Network (ERC-20).


For your benefit, please be advised to follow us for updates; in case of any changes, we will publish additional announcements accordingly. 


Remarks:

  • Please follow us for official updates and consider managing your GF holding properly before the deactivation of deposit, withdrawal, and trading of GF 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 GF and ZENT may differ. Please consider managing your assets carefully before the swap of the remaining GF tokens on the system for ZENT tokens as per this announcement. You can check the international market price of GF here and consider the price of ZENT before investing (check more information about ZENT 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 GuildFi team are determined by the GuildFi 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.


* Adjustment: Activation time of ZENT deposit, withdrawal, and trading changed from 08:00 PM to 09:30 PM (GMT+7) on 25 April 2024.

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