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2021/02/02

Main Announcement - Company Closure



I founded Tokens.net exchange in August 2017 with a strong conviction in transparency, decentralization and financial freedom. As a founder my main idea was to create a secure and transparent environment to trade various tokens that were being issued by numerous ICOs happening at that time. It has been more than 3 years since with Tokens.net recording zero security incidents, zero downtime, and was able to provide a solid and valuable technical product for its clients in which I, as the founder and owner of the company, take great pride.

Unfortunately, the ICO market deflated dramatically after 2017 with investors losing interest and moving back to investing in major cryptocurrencies. We changed our focus and started building our business model around those currencies but the reality is, Tokens.net can not compete with major players in that field of the market.

I believe any additional investments into continuing the business would not bring returns and would most probably be lost. In light of these facts I decided to cease all Tokens.net operations and close the exchange.

Our respected clients will be able to withdraw their funds and swap their DTR in time before the finalization of the company closure. The process of closure begins with this announcement on February 2nd, 2021 and will finalise by April 1st, 2021. DTR will be available for USDT swap at a fixed rate of 0.01124 USDT from February 16th, 2021 until April 1st, 2021.

I want to thank all Tokens.net clients, ICO investors and the team for their trust in my founding idea and for years spent on the exchange.

Thank you for your support and all the best,




Damian Merlak

Tokens.net founder and owner

- Tokens.net is announcing on February 2nd, 2021, that the exchange is closing and that all related operations will cease.

- Trading engine and API access will be stopped on February 16th, 2021. All outstanding orders will be canceled from the order books.

- Deposits are allowed until February 16th, 2021, after which Tokens.net clients will no longer be able to use this function. USDT deposits will still be available after this date to cover outstanding loans.

- Withdrawals are enabled until April 1st, 2021, the final date for Tokens.net clients to withdraw their funds from the exchange.

- Swap of DTR tokens will be available from February 16th, 2021 until April 1st, 2021 at a fixed rate of 0.01124 USDT per DTR. Read the tutorial and more details about the DTR swap here.

- The final closure and termination of all exchange operations will occur on April 1st, 2021 when the trading platform will be permanently shut down.

- Customer support will still be available after the final closure and until August 1st, 2021.

DTR investors will be able to swap their DTR tokens before the exchange closes and ceases all operations. DTR swap rate will be fixed at 0.01124 USDT.



Swap of DTR tokens will be available from February 16th, 2021 until April 1st, 2021.



Step 1: Install Metamask (or choose your preferred ETH wallet provider)
Step 2: Create or import wallet
Step 3: Withdraw DTR to your wallet address
Step 4: Send DTR to the swap address 0xb0e9DDB911640D503F607Ccb862d428aa8001066 (you should have adequate quantity of Ether (ETH) in your wallet to cover the cost of the transaction)
Step 5: Your ETH wallet will receive eligible amount of USDT to the address from which the DTR was sent



IMPORTANT: Do not send DTR to the swap address from exchanges or wallet providers where you do not control your private key. USDT will be sent back to the sender address, therefore you need full control of the associated wallet.

Will DTRV be converted as well?
No.
Will I get my Spark tokens from the Flare distribution?
Yes, all Spark tokens will be distributed after the exchange closes. Information about the distribution will be sent to eligible clients by email.
What will happen to my outstanding collateral loan?
You will have time to return the loan until the closure of the platform. If the loan is not returned, the loan will be liquidated.
Will you enable Cardano (ADA) withdrawals?
All ADA holders will be contacted before the Platform closure by our support team and will receive ADA to their provided addresses.
I have a small altcoin balance, what will happen to it?
Withdrawal fees are decreased, min. Order size is decreased.
What happens to my balance of X coin/token on Tokens?
All balances are covered and withdrawable (ADA holders will be contacted separately).