As the majority of our token activity is moving from SLP (Simple Ledger Protocol) to SmartBCH and other networks, allowing for more efficient and full interest distribution (e.g. no 10 flexUSD minimum address balance requirement), CoinFLEX will be deprecating support for SLP completely.
All holders of CoinFLEX-issued SLP tokens are advised to convert their tokens to either SEP20 (SmartBCH) or ERC20 (Ethereum), or simply hold them in a chain-agnostic form on a CoinFLEX account.
The simplest method to convert your SLP flexAssets is to deposit all your CoinFLEX-issued SLP tokens to your CoinFLEX account, where you can receive any associated interest interest to your CoinFLEX account balance or choose to withdraw to other platforms/wallets on either SmartBCH (SEP20) or Ethereum (ERC20).
If you are unsure over which network to choose, you may decide to hold the balance on CoinFLEX until further network support is added. Some of the networks on our roadmap for the upcoming months include Avalanche, Fantom, Binance Smart Chain and Polygon.
As part of this strategy we are also delisting the SLP token GOC.
Please note that SLP withdrawals processing of CoinFLEX-issued tokens will be stopped on Thursday, 26 May 2022 at 12:00 PM UTC.
GOC deposits support will end on 14 June 2022 and withdrawals will stop on 28 June 2022. Please be sure to withdraw all your GOC prior to that date.
Deposits of CoinFLEX-issued tokens (flexAssets and Note Tokens) will remain available to facilitate the conversion from Bitcoin Cash SLP to alternative networks. We request that you use this functionality at your earliest convenience to move away from relying on SLP and ensure that you continue to receive interest.
CoinFLEX plans to fully and finally stop interest payouts to SLP flexAssets holders on Thursday, 10 November 2022. However, due to the technical difficulties the protocol is experiencing, we reserve the right to discontinue the interest issuance on SLP earlier, at a very short or no notice, if we deem the protocol impossible or unsafe to use.
Assets affected by deprecating support for SLP on CoinFLEX:
- SLP tokens conversion to other networks:
|token||SLP token id|
- Delisting / discontinuing:
|token||SLP token id|
For further advice on transferring your SLP tokens to your CoinFLEX account, please see the following support article: coinflex.com/blog/how-to-send-slp-tokens-to-your-coinflex-account/
Please be sure to convert all your CoinFLEX-issued SLP tokens from all addresses as soon as possible. Do not forget about the FLEX you may hold with your Telegram FLEX Tipbot.
Thank you for taking the time to read through this update, and please contact us if you have any questions/concerns or need assistance in any way.
The CoinFLEX Team