To all of our CMT holders/supporters,
The release of the CyberMiles blockchain’s “MainNet” is the most significant milestone in our quest to create a truly decentralized e-commerce ecosystem. By operating on our native blockchain, we’ll be able to run an independent blockchain network, free from the limits of the Ethereum blockchain, while adding new functionalities to existing blockchain technology. Through research efforts, the CyberMiles blockchain provides an optimal environment for e-commerce related decentralized applications (“DApps”) and projects. The smarter “smart contracts” will empower a new e-commerce network with the native CyberMiles Token (CMT).
CyberMiles’ MainNet will be launched officially on Oct. 15, 2018. At the same time, ERC20 CMTs will migrate from the Ethereum blockchain to the CyberMiles blockchain’s MainNet and become native CMTs on a one-to-one basis.
Note: All ERC20 CMTs will be permanently frozen and become obsolete from 23:59 (UTC+00) on Oct. 9, 2018. The CyberMiles Foundation, along with our Genesis Validators, will proceed to snapshot the ERC20 CMT distribution, and lauch the MainNet software for migration. When the MainNet goes live, the blockchain will distribute native CMTs according to the ERC20 snapshot. We aim to complete the migration by Oct. 15.
- Migration preparation period: Now until October 9th 23:59 (UTC+00). The ERC20 CMT tokens will then be frozen permanently and become obsolete.
- CyberMiles’ MainNet launch: October 15, 2018
- Native CMT distribution: October 15, 2018
For the best and safest MainNet migration experience, the CyberMiles Foundation asks all CMT holders to take one of the two following steps to receive native CMTs as soon as the MainNet launches.
1. Exchanges Migration
Deposit your ERC20 CMTs into an exchange that supports the CyberMiles MainNet (see below).
2. CMT Wallet Migration
Download the new CMT Wallet on your mobile device from cybermiles.io, then transfer your ERC20 CMTs into the CMT Wallet.
Either of the above two steps will convert your ERC20 CMTs to native CMTs without further effort from you.
For the Record
- The CMT Wallet does not support withdrawal of CMTs before the MainNet launch (Oct. 15, 2018)
- The following exchanges have confirmed support for CyberMiles migration at the time of writing:
– BCEX – Bithumb
– Tokenomy – Zebpay
If your CMTs are deposited in any of these exchanges, no further action is required from you to complete the migration. The CyberMiles Foundation cannot predict or influence CMT trading interruptions in any of the exchanges. Therefore, please pay attention to their announcements and notices.
In the meantime, please pay attention to any official announcement(s) from CyberMiles. We’ll update the list of exchanges once new ones are confirmed.
- The CyberMiles Foundation is not responsible for the loss of CMT assets caused by network security, exchanges, other third-party applications, or erroneous operations during the migration.
- If you don’t migrate your ERC20 CMTs before the MainNet launch, you will still be able to convert to native CMTs by importing your ERC20 account private key into the CMT Wallet. We will release more information about this feature but please note we do not recommend this method due to private key safety issues.
- Currently, having your ERC20 CMTs in the CMT Wallet or on one of the exchanges that support CyberMiles’ MainNet are the only recommended ways to migrate to native CMTs* — i.e. no other tools or entities will facilitate migration at this moment.
*Never reveal your private key to anyone else
Scan the QR code or click the following link to download the CMT Wallet:cybermiles.io/cmt-wallet
Thank you again for your attention and support!
– The CyberMiles Foundation
All rights reserved by the CyberMiles Foundation
- How can CMTs be migrated while the MainNet is not yet live?
Genesis Validators will load the snapshot of ERC20 CMTs and distribute the native CMTs once the CyberMiles MainNet is launched. Make sure that your ERC20 CMTs are fully prepared for migration before Oct. 10, 2018, in accordance with the two ways listed in the announcement above.
- How much will the migration cost me?
a. According to the aforementioned migration methods, you only need to bear the relevant fees charged by the corresponding exchanges and related transaction fees.
b. If you use the CMT Wallet for migration, you only need to bear the transaction fees charged by your current wallet for sending CMTs to the CMT Wallet address.
- What will happen to the current ERC20 CMTs?
As ERC20 tokens, the original CMTs will be frozen permanently and obsolete prior to the migration deadline but will not disappear. Issuance of the native CMTs will be based on the snapshots at the point of migration.
- Does this process affect trading?
a. The trading of ERC20 CMTs won’t be affected until Oct. 10, 2018; however, at that point it will be frozen permanently and obsolete, and thus cannot be traded.
b. Native CMTs will be available for trading after MainNet goes live.
c. For ERC20 CMT or native CMT services provided by the exchanges, please refer to the announcement(s) directly from them.
- How much CMT will I get after the migration?
After the migration, you will receive the same number of native CMTs corresponding to the snapshot at the deadline. For instance, on the migration date, if the holder owns 100 CMTs and has prepared his or her 100 CMTs for migration, he or she will receive 100 native CMTs when the MainNet goes live.
- Which exchanges support CMT migration?
Cobinhood, DragonEx, Huobi, LBank, OKEx and ZebPay are the current exchanges that will support CMT migration. Please pay attention to CyberMiles’ official channels (official website, CyberMiles Twitter, CyberMiles Facebook and Medium) for further announcements. We will update the list of exchanges once new ones are confirmed.
- What if my exchange doesn’t support or didn’t announce the CMT migration?
In order to migrate your CMTs, you will be required to transfer your CMTs to, either an exchange that supports the migration, or on your CMT Wallet.
- What will happen if I do not migrate my CMTs on time?
If you do not migrate your CMTs during the migration window, The CyberMiles Foundation will provide will another way for ERC20 CMTs to be migrated from Ethereum to CyberMiles’ MainNet.
- Why should I use the CMT Wallet to migrate my CMTs?
Developed by CyberMiles, the CMT Wallet is a safe, fast and reliable tool with a user-friendly interface. It makes migration automatic and fully supports MainNet, while greatly reducing the possibility of misoperation.
- Does the CMT Cube support migration?
The CMT Cube is a CyberMiles blockchain tool that allows delegators to stake their CMTs to validators. All of its functions will be launched after our MainNet goes live, so it won’t support migration. Use the CMT Wallet instead.