Big News: SnapCoin changes to Earneo token (RNO)
Our rebranding is finished and we are thrilled to take the next step: announcing the swap of our previously used SnapCoin with the new Earneo token (RNO).
We are moving forward in reaching our goal to become the first video sharing platform that uses Blockchain technology in a way that benefits everyone.
Today, we are introducing our new token and explaining how this move will serve our users and how and when it‘s going to happen.
Why are we swapping and what is the difference between RNO and SNPC?
We decided to move from the Ethereum blockchain to the Binance Chain. For this purpose, we’ve created a new token (RNO) to replace the previously used SnapCoin (SNPC).
SnapCoin (SNPC) is an ERC20 token based on the Ethereum Blockchain while Earneo (RNO) is a BEP2 token based on the Binance chain.
There are many reasons which led us to switch to the Binance chain, the two that are listed below are the most important ones at this moment:
- The Binance chain offers higher transaction speed
- The Binance chain offers lower transaction costs compared to Ethereum
Likewise, we strongly believe that the Binance ecosystem can help take Earneo’s token to the next level in the crypto sphere.
How does the swap from SNPC to RNO work?
Token swap refers to the mechanism that will help you convert your SNPC token to an RNO token at the rate of 1:1. This means that you will receive the same amount of RNO tokens as the SNPC tokens that you hodl.
To assist you in the process, you can find a step-by-step guide in a special section on our website dedicated to the token swap. We assure you that the process is easy and user-friendly.
In order to receive your new Earneo token, you must first own or create a BEP2 compatible wallet. There is an abundance to chose from, our recommendation is to either use Trust Wallet or create one directly on the Binance Blockchain.
You can find useful links at the end of this article that will assist you.
When the process is over and all tokens have been swapped, SNPC will either be burned or frozen via the Ethereum smart contract.
The swap will take place from July 10th to August 14th, 2020.
During this swap, we decided to decrease the total supply from 678 million SNPC to 650 million RNO tokens.
Same as SNPC, it will not be possible to mint new RNOs. This means that the maximum supply will be 650 million.
However, we are still exploring the possibility of carrying out other burns in the future in order to further reduce the total supply.
Holding and Trading
As we further upgrade our application, we plan to list the RNO token on more exchanges to provide more liquidity and trading opportunities for our community.
Towards the end of July (the exact date to be announced), you may trade Earneo (RNO) token on Cointiger.
Trading on BitMart will be available at the beginning of August (the exact date to be announced).
Stacking
We were one of the first ones to introduce a stacking bonus for users holding SnapCoin.
This bonus will resume in a new form in the upcoming months.
This new step, combined with the upcoming release of the application marks a new turning point for Earneo.
We will continue to build in order to offer a video-sharing platform that fairly rewards all of our users.
Visit our website section dedicated to the token swap
Check our website at www.earneo.io
Join our telegram group at https://t.me/earneo_official
Don’t miss out on our latest news on Twitter
Download the Trustwallet app to hodl your RNO token.
Check the tutorial to create a BEP2 wallet on Binance DEX.
Note: Creating a wallet on Binance DEX does not mean that the RNO token can be traded there for now.
