30 billion NOAHP burned and reissued on the ERC-20 standard.
The Noah management team burned 30 billion NOAHP coins and is reissuing them in ERC-20 compatible form, via an atomic swap. It’s an indescribably valuable event for the Noah Project’s global adaptation with other blockchains.
Atomic swap is a peer-to-peer exchange that allows the swap of cryptocurrencies from one party to another, without going through a third-party service like a crypto exchange. Users have full control and ownership of their private keys during this entire process.
The Noah management team highly values the community. Users asked for NOAHP coins to be listed on classic and decentralized exchanges. However, the listing of the NOAHP coin was complicated by the need to implement the protocol.
To simplify this process and make listing possible, it was decided to create an ERC-20 compatible NOAHP coin. The decision eliminates the need for the Noah Blockchain protocol implementation. In the new ERC-20 compatible form, anyone will be able to list the Noah Project’s native coin in any Decentralized Exchange (DEX) for its free circulation. The team considers the creation of ERC-20 NOAHP coin a cornerstone event for all future adaptations of blockchains.
Great benefits behind the decision:
- Migration of NOAH coin to other blockchains. ERC-20 is the first blockchain due to its popularity. It allows the NOAHP coin to be listed on DEXes.
- Planned roadmap step. As announced earlier, a detailed Noah Blockchain roadmap has been created. The ERC-20 compatible version of the NOAHP coin is just one of many steps planned to globalize the Noah Project.
- The first step for scaling NOAHP. One of the Noah management team’s main objectives is to expand the Noah Project outside of Japan. The ERC-20 NOAHP coin will be accessible to the world crypto market.
- Sustainable growth of the ecosystem. Noah Project is full of profitable products and now the need for it to attract new users is felt especially acutely. Such a move will generate an interest in studying the Noah blockchain. New users will be moving from ERC-20 to the Noah Blockchain and back all the time. This process will be provided via an atomic swap.
ERC-20 NOAHP coin details:
The 30 billion burned NOAHP coins were taken from the Liquidity & Community Growth fund (now holding 34,243,620,979.05 NOAHP):
ERC-20 NOAHP coin is a brand new coin, it’s not NOAHP or old NOAH. But, no additional new NOAHP coins were created, the old ones were simply reissued. There will be no negative impact on the price of the NOAHP coin.
ERC-20 is the first of many blockchains for the NOAHP coin. Other compatible versions will be created, depending on the demand and circumstances. The mechanics will be the same:
- Some amount of NOAHP will be taken from the Liquidity & Community Growth fund and burned.
- An equal amount will be issued on another blockchain.
The ERC-20 NOAHP coin will definitely be listed on Uniswap – the largest DEX in the crypto market. Uniswap is a decentralized exchange (DEX) protocol running on the Ethereum blockchain that allows traders to trade ERC-20 tokens directly from their wallets. Uniswap uses liquidity pools for this purpose. Liquidity pools, in essence, are pools of tokens that are locked in a smart contract. They are used to facilitate trading by providing liquidity.
Uniswap 24hr trading volumes:
Uniswap total value locked (USD):
The Noah management team is preparing detailed instructions on how to get the ERC-20 NOAHP coins into circulation. NOAHP coins will be exchanged 1 to 1 for ERC-20 tokens.
NOAHP coin’s transition to the ERC-20 blockchain is a vivid indicator of the Noah Project’s ambitions and will also provide an impetus for a token price increase. Noah’s management team will continue to develop and improve the Noah Project in order to further unlock its huge potential. Stay tuned for more awesome details.
- ERC-20 NOAHP coin is a brand new coin, it’s not NOAHP or old NOAH
- ERC-20 NOAHP is not ERC-20 NOAH
- NOAH coins and ERC-20 NOAHP are exchanged 1:1
- 30 billion NOAH burned were taken from the Liquidity & Community Growth fund
- No additional new NOAHP coins were created
- ERC-20 is the first blockchain for NOAHP, more to come
- The Uniswap exchange is the largest DEX exchange
- Exchange process will be provided via an atomic swap
- The community will be informed about the date of listing on DEXes.
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