EOS Mainnet – Kraken pulls off funding due to preparation of launch

EOS [EOS]’s Mainnet will be launching on 2nd June 2018. EOS will be shifting out of the Blockchain, Ethereum. There have been exchanges that will render support for the launch of the Mainnet.

Few of the exchanges are – Binance, the exchange platform who had initially supported the Mainnet launch of EOS, Bitfinex, Zebpay, Kucoin, Bithumb, and Kraken.

Kraken, the exchange platform will take the EOS funding offline, their website stated. It will be taken down from 1st June 2018 in preparation of the Mainnet. The funding will continue to remain offline until Kraken believes that it’s stable enough. This procedure is long, taking several days or even longer after it goes live.

The unregistered ERC20 EOS tokens after 11:59:59 PM [UTC] will hold no value, once it’s frozen on the platform of Ethereum [ETH]. Since the EOS holders are trading on the blockchain of Ethereum, ETH and EOS have the same receiving addresses. After the Mainet launch EOS, they will have its separate blockchain for the community.

Kraken, on their website, reported:

“Clients who withdraw EOS from Kraken before the MainNet launch will need to manage the token swap entirely on their own.”

However, the exchange will manage the clients with the EOS balance completely and do not require to shift their tokens to get their Mainnet tokens.

Kraken Exchange’s announcement via Twitter post:

“In preparation for the EOS MainNet launch, we will take EOS funding offline starting from June 1, 2018, at 00:00 UTC (May 31 at 5:00 pm PT). EOS funding will remain offline until we are confident that the MainNet is stable.”

Zak Le Ouss, a Twitter user commented:

“@krakenfx. how about tokens that will be airdropped by projects like Everpedia, EOSdac and RIDL to EOS holders, will kraken take them to account to? @EOS_io @eosforumorg @bytemaster7”

alone replied:

“Sorry, can you explain that to me. I have Eos on kraken exchanges. Do I need to move them to an ethereum wallet? Should I register it on eos website? Is there any chance to lose my tokens if I didn’t take action? Please reassure”

krhzet replied:

“By hoping that US citizens can receive their tokens on the new chain.”

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