Today we announce that our token, Intergalactic Gaming Gold (IGG), has been officially withdrawn from Tronscan’s DEX, to prepare for a token migration. For over a month, IGG currently a TRC-10 token, has been traded on the Bancor protocol based DEX. The nature of this exchange means that it is susceptible to significant volatility.
With our Alpha v1.0 TESTNET well underway, we are now looking to convert IGG into a TRC-20 token. Following on from this, the TRC-20 token will be listed on TRXMarket, which operates in an Order Book style. Listing on TRXMarket comes at no cost, and will provide significantly more liquidity to the IGG tokenomics.
Before we continue, we will briefly explain the difference between TRC-10 and TRC-20. Essentially, the flexibility and functionality of TRC-10 tokens are limited. TRC-20, is a technical standard used for smart contracts on the TRON blockchain as well as implementing tokens with the TRON Virtual Machine (TVM). This is fundamental for the execution of our vision for a tokenised standard for the competitive gaming industry. As you can see from the example use cases below, there will be the requirement for extensive smart contracts between users throughout our platform.
At this crucial stage of our journey, we feel it is the right time to make the migration over to a TRC-20 token. It will allow us to begin to deploy smart contracts within the IGGalaxy for players to begin establishing teams on the TRON blockchain at an early stage, as opposed to making the migration once teams have been fully established. It will also enable us to implement our freeze function, along with other functions we have in the pipeline.
Examples of IGG Use Cases
Converting to a TRC-20 token brings with it the opportunity to rebrand the token that fuels the IGGalaxy. We presently have a list of potential token names in mind, would like to open the floor to suggestions from our community for a new token name and ticker.
By Thursday 3 January, 13:00 GMT we will chosen a new token name. If your entry is chosen to be the new official token of the IGGalaxy, you will receive 1,000,000 [???] tokens. 😉
To do so, please email your suggestions to firstname.lastname@example.org
Our team is currently developing a script that will allow Galacticans to send their IGG to a wallet that will automatically send the new tokens back, on a 1:1 basis. In approximately 24 hours, we will create our new TRC20 token and begin the token swap process for our Galacticans by the end of this week.
Please note, that the IGG within our SR rewards and Loyalty rewards will be suspended until further notice. We will still be distributing TRX rewards, however.
Official instructions for swapping tokens will be published via our website by the end of the week. In the meantime, please DO NOT send your tokens to anybody claiming to have new tokens. There will not be a time limit on when tokens need to be swapped by, Galacticans can do so when they are ready.
We would like to thank all Galacticans for their patience!
Please follow us on our various social media channels to keep up to date with developments:
IG TELEGRAM GROUPS
https://t.me/IGAnnouncements— ANNOUNCEMENTS CHANNEL
https://t.me/IGgge- Galactic Grand Exchange (GGE)
https://t.me/IGG_Official— ENGLISH (MAIN)
https://t.me/IGG_Dutch — DUTCH
Partner Telegram Groups:
https://t.me/MazerGaming— Mazer Gaming
https://t.me/TronEsports— Tron Esports
https://t.me/GSINesports— GSIN Esports
https://t.me/DemiseEsports- Demise Esports
https://t.me/SangalEsports- Sangal Esports
https://t.me/FuegoGaming- Fuego Gaming
https://t.me/ProtonGaming- Proton Gaming
https://t.me/MaskedEsports- Masked Esports
https://t.me/FFSeSports- For F1FA Sake
https://t.me/TEAMKaiRoS- TEAM KaiRoS
https://t.me/TronWalletMe- Tron Wallet Me