See the Swarm CIty Github for additional details about the token conversion process, or to find instructions on manual conversion.
IMPORTANT NOTE: Do not send tokens directly to the new token address using any wallet software ( MyCrypto / MyEtherWallet / Mist / MetaMask / etc. ) they will not be converted to SWT tokens this way, and will be lost if you do so.
To initiate the ARC to SWT conversion process, you will start the by going to the Swarm City Terminal.
- Visit https://swarm.city and create a bookmark on your homepage
- Select "enter here"
- Be sure to select "Create new user" although you already have an ARC wallet. All users must first create a new profile in the Swarm City Terminal
- Click on "Yes, convert my tokens"
Now you can either use your ARC 'json-file' backup or private key
- Choose "as a json-file"
- Select the json-file associated with your wallet
- Verify your password
- UNLOCKING WALLET
or
Load the wallet storing the ARC tokens you want to convert. All ARC tokens in this wallet will be automatically converted into SWT upon entry to the Terminal after selecting 'Enter here' and succesfully decrypting your wallet.
- Choose "I have ARC tokens on an external wallet" to use your private key
- You will need to create a new password and confirm it
- UNLOCKING WALLET
NOTE: *Users can not specify partial conversion amounts, so be sure to remove any ARC that you do not wish to convert prior to initiating the conversion process. Use Etherscan.io at https://etherscan.io/ to check your wallet address balances.
ARC tokens will be AUTOMATICALLY detected and converted to SWT as long as your wallet also holds enough ETH to cover the transaction gas fees.
The ARC to SWT conversion process also requires a small amount of ether to cover the Ethereum blockchain transaction gas fees. This amount varies and is determined by the miners processing the block. Check MyEtherWallet at https://mycrypto.github.io/knowledge-base/gas/what-is-gas-ethereum.html for the current transaction gas fee amount.
If your wallet address doesn't hold enough ETH to cover the transaction fees associated with any/all transactions occuring on the Ethereum blockchain, then you will receive an error message, and the transaction will ultimately fail after attempting the conversion process. No worries, if the transaction fails your ARC balance is not affected.
To complete the transaction, send a small amount of ETH, approximately 20 GWEI = 0.00042 ETH to your ARC wallet public address.
The 3 step conversion process takes a few minutes to complete.
- First, the contract checks the wallet's ether balance. If the amount is sufficient, you will notice a "green checkmark"
- Next, allowance is given to the new SWTConverter contract to receive the full balance of ARC tokens. This function moves the ARC tokens to the burn address. New SWT is minted, at a 1:1, rate on the same address that initially stored the ARC tokens. This may take a few minutes. You will again notice a "green checkmark"
- Lastly, your balance is updated. The wallet now holds your freshly minted SWT!! You will notice a third "green checkmark" and receive "Congratulations". You can now view your SWT and ether balance, send SWT, and transact on the Swarm City Boardwalk.
The ARC tokens will be destroyed immediately by being sent to the burn address, https://etherscan.io/token/0xAc709FcB44a43c35F0DA4e3163b117A17F3770f5?a=0x0000000000000000000000000000000000000000.
ARC tokens sent to this address are forever "locked" once they reach this burn address. Burning is a method of effectively destroying coins such that they can never be spent again. Coins can be burnt by sending them to an address, which are guaranteed to have no known or discoverable private key.
For the benefit of this project it was necessary to fork the brand from Arcade City to Swarm City. Therefore, use of the ARC token within the Swarm City DApp was no longer an acceptable option.
So, we integrated an exchange process into our DApp, indefinitely giving all ARC token holders the option to exchange ARC for SWT that can be used in the Swarm City ecosystem.
You can start the exchange anytime, select "enter here" at Swarm City.
Exchange rate 1:1
This conversion process will always be available at https://legacy.swarm.city.
There is NO TIME LIMIT
The exchange rate is 1:1
Users will get 1 SWT in exchange for 1 ARC token.
This conversion rate is permanent.
To initiate the ARC to SWT conversion, visit the Swarm City Terminal at https://legacy.swarm.city
Load the wallet storing the ARC tokens you want to convert. All ARC tokens in this wallet will be automatically converted into SWT upon entry to the Terminal after selecting Enter here and succesfully decrypting your wallet.
NOTE: *Users can not specify partial conversion amounts, so be sure to remove any ARC that you do not wish to convert prior to initiating the conversion process.
The ARC to SWT conversion process also requires a small amount of ether to cover the Ethereum blockchain transaction gas fees. This amount varies and is determined by the miners processing the block. Check MyCrypto for the current gas fee amount.
There is no time limit on performing the conversion. This functionality will be permanently available in our contract.
Yes, the easiest way to convert ARC to SWT is to use the automatic conversion tool in the Swarm CIty Terminal, but technically savvy users can also perform the exchange manually.
Find instructions here.
We will not refund ETH, but you can trade ARC tokens on one of the decentralized exchanges, like Etherdelta.
ARC tokens are not listed on any major exchanges and are a bit harder to trade/sell. If you can not find someone who wants to trade for ARC tokens, you can convert your ARC to SWT and then sell/trade the SWT.
No, to exchange from ARC to SWT you will either need to use the automatic conversion tool or use the instructions provided here to complete the conversion process manually.
Tokens sent directly to the Swarm City token contract will NOT be converted, and can not be recovered.
DO NOT SEND ANY TOKENS DIRECTLY TO THE SWARM CITY TOKEN CONTRACT.
ARC token burn address: https://etherscan.io/token/0xAc709FcB44a43c35F0DA4e3163b117A17F3770f5?a=0x0000000000000000000000000000000000000000
Once the conversion process is complete, you will be able to view your newly minted SWT on your MyCrypto account as well as in the Terminal.
No, to exchange from ARC to SWT you will either need to use the automatic conversion tool or use the instructions provided here to complete the conversion process manually.
Tokens sent directly to the Swarm City token contract will NOT be converted, and can not be recovered.
DO NOT SEND ANY TOKENS DIRECTLY TO THE SWARM CITY TOKEN CONTRACT.
ARC token burn address: https://etherscan.io/token/0xAc709FcB44a43c35F0DA4e3163b117A17F3770f5?a=0x0000000000000000000000000000000000000000
Once the conversion process is complete, you will be able to view your newly minted SWT on your MyEtherWallet account as well as in the Terminal.
You will need to import your MyCrypto address in to the Terminal.
- Go to https://legacy.swarm.city
- Select "enter here"
- Then select "Create new user"
- Choose "Yes, convert my tokens"
- Now, select "I have Arcade-tokens in an external wallet"
- Enter your private key
- Create a password to protect your new Swarm City account, and store it in a safe place.
- The system will automatically detect and convert your ARC tokens
*Be sure that your wallet holds enough ETH to cover the gas transaction fees, approx. 0.00042 ETH
You will be guided through the token exchange process, which should only take a few minutes to execute. Once done, you can view or transact using SWT on your MyCrypto account as well as in the Swarm City Terminal.
You will need to import your MyEtherWallet address in to the Terminal.
- Go to https://legacy.swarm.city
- Select "enter here"
- Then select "Create new user"
- Choose "Yes, convert my tokens"
- Now, select "I have Arcade-tokens in an external wallet"
- Enter your private key
- Create a password to protect your new Swarm City account, and store it in a safe place.
- The system will automatically detect and convert your ARC tokens
*Be sure that your wallet holds enough ETH to cover the gas transaction fees, approx. 0.00042 ETH
You will be guided through the token exchange process, which should only take a few minutes to execute. Once done, you can view or transact using SWT on your MyEtherWallet account as well as in the Swarm City Terminal.