Tron Alert: Transfer Your TRX or Risk Losing It All
Update: Tron has released further details on how to prepare for the mainnet launch. You can check them out here.
Tron just released a crucial update on its upcoming mainnet launch. The platform is set to migrate off of the Ethereum blockchain on May 31, and if you don’t prepare you could lose your investment.
To ensure your tokens are successfully transferred to the new blockchain, Tron Labs requires they be moved to a well-known exchange that is preparing for the migration:
“For token holders, with your ERC20 tokens saved to cryptocurrency exchanges (the only required operation on your part), further operations for token migration will be automatically completed for you in due time.”
Anyone holding their tokens on MyEtherWallet or the Ledger Nano S would be wise to move their tokens onto an exchange, until and unless Tron announces support for either wallet.
As long as your coins are on an exchange, such as Binance, it appears you’re good to go.
#TRX $TRX Migration Notice, the migration from ERC20 tokens to TRX, the cryptocurrency on Tron’s public blockchain, will begin on June 21,2018 (GMT+8). @justinsuntron #TRONhttps://t.co/lcMu6QmrzA
— Tron Foundation (@Tronfoundation) April 15, 2018
After May 31, ERC20 transactions will no longer be valid, and TRX will only be supported on the new public blockchain.
Update: This article has been updated to reflect the new launch date for Tron’s mainnet, May 31.
