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RE: BUYER BEWARE! DO NOT PURCHASE ANY EOS TOKENS UNTIL YOU READ THIS!!!!

in #eos • 7 years ago

But shouldn't the purchase agreement then mention that the ERC-20 tokens will give you the right to EOS tokens? I have only skimmed the terms so correct me if I'm wrong, but so far it seems like the ERC-20 tokens give you no rights at all.

7 years ago in #eos by
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     7 years ago 

    Hey, sorry I can't be more help. I haven't read the terms in detail. The whole idea is that they are selling an ERC-20 "EOS" token on the Ethereum network, which is effectively just a placeholder. The distribution of those tokens will then be used to distribute the actual EOS tokens on the EOS network. That's why it is important to register your public key, because you will use a private key on the EOS network to claim the real EOS tokens. The placeholder tokens are basically useless, and trading will be frozen once the full ICO ends, so that the final state of token distributions on Ethereum can be used as a snapshot to generate the distribution of real tokens.

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     6 years ago 

    If I buy EOS tokens right now - basic EOS token - on an exchange site, will I be able to transfer those EOS tokens to MyEtherWallet? Or with the launch of the EOS mainnet I can transfer the tokens from the exchange site to a EOS wallet?

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