PSA: Due to an increased demand for ERC20 ALT on Binance, the ERC20 ALT liquidity on the exchange has become critically low. The Binance team has therefore requested us to help them with a token swap from BEP20 ALT to ERC20 ALT to balance the liquidity.
We will be facilitating this swap on chain by burning BEP20 tokens on the BNB chain and minting an equivalent number of ERC20 tokens on Ethereum. The total token circulation will therefore remain unchanged. You will see withdrawal transactions of 400M ALT from Binance followed by burning of those tokens on the BNB chain and then an unlock transaction of an equivalent number of ERC20 ALT on Ethereum which will then be moved to a Binance-controlled wallet.
Both the withdrawal (BEP20 ALT) and the eventual deposit (ERC20 ALT) can be verified on-chain. For transparency, we will share the transaction links once the swap process is complete.
Thank you for your understanding.
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