Mainnet and Migration: How does it work?
Once the mainnet launch is complete, users will be able to migrate their ERC20 and BEP20 $CELL and receive native CF20 $CELL tokens using an upcoming bridge. Native $CELL tokens will enable users to participate in the network and will be required for various activities such as running nodes and staking to name a few. Cross-functionality with Etherum network and Binance Smart Chain will be integrated later on.
Users will be charged 10 $CELL + 0.1% of the amount of $CELL migrated over the bridge, in addition to gas expenses incurred on ETH or BSC networks. Most of this fee will be spent on maintaining the bridge’s operability since it involves a lot of BSC and ETH nodes at the same time. Rest of the funds will go to the development of the project. The bridge can later be made open to third-party participants with the possibility to share earnings.
The transaction fee for transfers from one wallet to another within the Cellframe Network is currently 0.1 $CELL. However, the master nodes can change the minimum payment they are willing to accept, which makes sense once there are a large number of transactions accumulated in the mempool surpassing the speed at which blocks are executed.
The smallest unit a $CELL can be divided into shall be called Datoshi, an analogy to Satoshi, the smallest unit of Bitcoin.
Frequently Asked Questions:
Q: When the Mainnet is launched, what will happen to my ERC20/BEP20 $CELL?
A: Your $CELL will still remain in your wallets on BSC/ETH chains and can be traded over the supported exchanges. Or you can choose to manually migrate and receive CF20 $CELL, which will be required for participation in Cellframe Network.
Q: I am currently holding my $CELL on Gate.io (or any other centralized exchange for that matter). Do I need to migrate or can I just keep holding my tokens there?
A: It is advisable to look out for announcements from the concerned exchange on this matter.
Q: Will it be possible to migrate back my CF20 $CELL to ERC20 or BEP20 $CELL?
A: To start with, the bridge will be unidirectional and will be equipped with the ability to convert ERC20 and BEP20 $CELL to native $CELL. The ability to convert native $CELL to ERC20 and BEP20 $CELL will be integrated into the bridge later on.
Q: Where can I store the tokens after migration?
A: You can store your migrated $CELL on the native Cellframe Network and access them using Cellframe Dashboard. We are also planning to eventually create our own hardware wallet and partner up with reputable existing cold wallets.
Q: Can I store my $CELL on Ledger wallet? Is it safe from quantum threats to hold $CELL on Ledger?
A: You can keep holding your $CELL on ETH and BSC networks using your Ledger wallet, but these networks do not support quantum-resistant encryption. Ledger wallet does not support CF20 protocol for now.
Q: Does Cellframe Network have a dedicated wallet app?
A: The Cellframe Dashboard (with wallet functionality included) for Windows, Mac and Linux is already out. Our team is working on the Cellframe Dashboard app for Android and iOS users.
Q: What is the benefit of holding native $CELL?
A: CELL tokens can be used for bidding on your favorite projects participating in parachain auctions. If the project you bid on wins the auction, your delegated $CELL tokens are locked for a prespecified duration that project occupies the CellSlot. In exchange for supporting them during the auctions, you receive your project’s tokens. Using CF20 $CELL, you will also be able to participate in single-sided staking, run a node and pay for different services that will be launched on Cellframe Network. Every transaction on Cellframe Network will incur a small fee which will be paid in $CELL.
Q: Will the native CELL token have a new contract address?
A: The native token has no smart contract address; it has a datum hash and ticker name. Ticker name is unique and can’t be repeated by scammers, so in the native network, it’s enough to check just the name.
Q: Will it be possible to buy $CELL on ETH/BSC after the mainnet launch?
A: Yes, of course.
Q: Once the mainnet launches, will $CELL become the native pairing currency for creating smart contracts?