Altcoin holders are anticipating the swap of EOS and TRX. This is especially so for those who own Tron and EOS. Tron and EOS are about to launch their mainnet and swap their tokens. As soon as this happens, Binance will be the first choice for traders who want to perform the swap. However, some other exchanges may provide this service as well.
Anyone interested in the EOS and TRON swap needs to complete a few steps before the time of the launch. First off, those who have stored funds in wallets that don't support the swap will have to make transfers to exchanges that support it. They'll also need to set up accounts in those platforms and enable trading.
Those who own EOS will need to go through the same process before the swap. As soon as the account is opened and funded, they next thing to do is wait for the swap to happen after which they can convert their TRX and EOS balance accordingly. Since a lot of people will be trying to perform transactions at the same time, you should expect transaction delays in the coming days.
There will be so many transactions on Binance exchange. The board will have to a pay attention to the inflow of traffic. Users who haven't registered their EOS addresses may lose their funds.
Users will be required to register their EOS wallets before the swap. Users need to register because the tokens available are currently on the Ethereum ERC20 format. After the launch of the Mainnet, EOS will have its own blockchain and will not depend on the Ethereum blockchain for token transfers anymore.
The token swap allows the tokens based on ERC20 to be removed from circulation. They will be introduced to the native EOS tokens in the swap process. This conversion can only happen when users have registered their Ethereum addresses.
It's not clear how this process will be handled by service providers. Users will need to take steps to make sure they don't lose their coins depending on the platform they use.
Posted from my blog with SteemPress : https://smartereum.com/16032/what-you-should-do-before-the-upcoming-trx-and-eos-swaps/