Swap your COSS and LALA tokens to the new COS token to continue receiving the benefits of the COSS ecosystem.
Earlier this year it was announced that two separate tokens (COSS and LALA) would be merging in to one token (COS). Due to differences in supply and price of the two tokens, a swap ratio was agreed to ensure that all current COSS and LALA token holders receive a fair share of the new COS tokens.
Initially, three tokens were included in the swap, CFT, COS and LALA. CFT was COSS’s fee reduction token and was automatically converted to COSS on the exchange.
Swap COSS and LALA on the COSS Exchange
The conversion ratios for the two tokens involved in the merger are:
- COSS token holders receive 1 COS token per 1 COSS token
- LALA token holders receive 1 COS token per 10 LALA tokens.
The swap is completed on the COSS exchange, this means you will need to send any COSS or LALA tokens you are holding in private wallets to your exchange wallets.
Convert Your LALA and COSS Tokens
Once your COSS and/or LALA tokens are in your exchange wallets, head to the ‘COS Swap‘ page. This can be found in the navigation menu on the right on your account page.
The COS Swap page will show your current COSS and LALA holdings on the exchange. Click ‘Convert to COS’ to complete the conversion at the fixed conversion rates shown in the example above.
In the example above, 10,000 COSS and 5,000 LALA would yield 10,500 COS (10,000 from COSS and 500 from LALA).
Your new COS tokens will automatically be shown in your COS wallet on the exchange. Your new COS balance will also be shown on this page. If you want to move your COS tokens to a private wallet, you will now be able to do so from the wallets page as you would with any other token.
Why Do I Need to Convert My Tokens?
There is no downside to converting your tokens. The COSS and LALA tokens will not be developed any further, so it is imperative that you swap your tokens.
Until you swap to the new COS token, you are also not eligible for the 50% fee split, so you are losing out by not swapping as soon as possible!
There is a rapidly approaching deadline to swap your tokens, after which it may become very difficult to get your COS tokens if you are eligible. If you have any issues with swapping or are unable to swap before the deadline, contact official COSS support at email@example.com
UPDATE: Deadline for swapping your COSS/LALA tokens to COSS is now 18th October 2019, 18:00 GMT + 8