Deprecation of wZNN, an Open Letter to Mercatox.com
Message:
The Zenon Community is aware that the bridge for the current wZNN contract is being deprecated. The community has been instructed to bridge from wZNN to native ZNN as soon as possible.
If Mercatox custododies wZNN in lieu of native ZNN (Alphanet), this message is to advise Mercatox to pursue one of the two following courses of action. Failure or neglect to take action may result in the total loss of customer assets.
Advise customers to bridge their wZNN.
1.A. Halt trading of wZNN (presented as ZNN on the Mercatox trading platform).
1.B. Enable withdrawals of wZNN.
1.C. Advise customers holding a balance of (wZNN) to withdraw and bridge their tokens immediately.
Mercatox could bridge the full balance of wZNN in custody to native ZNN Alphanet tokens.
2.A. Note that the bridge functionality is intermittent, and while the deposit of Alphanet tokens is reliable, bridged token deposits may be delayed for indeterminate amounts of time.
You’re not the bad guy. Whoever is in charge of the twitter account fails to realize how much they set back the efforts of this community by just staying silent and not signaling willingness to hand over the account.
An exchange integration tutorial would be usefull. I’m not sure what kind of server-side programming language is serving Mercatox, but the easiest way would be to use one of the Sdk implementations to interact with NoM. Either way they probably have to implement it from stratch, having some developer documentation could lower the adoption threshold considerably. Maybe Stex could give us some insight in how they implemented it?
I responded by saying their coins are no longer supported by Alphanet, citing the Medium article and this thread.
We’ll see if they decide to ask any questions or if they zero-out their holdings without further correspondence.
Apologies for the delay. I must have misunderstood their response because they’ve since informed me that they have completed the swap to Alphanet.
Mercatox is holding ~20600 ZNN and they wish to hold the same amount in wZNN in order to quickly re-instate trading on their platform. They are aware of the bridge and its 3% tax, and would like to know if we can accommodate one of the following:
Peer-to-peer trade 20600 ZNN for 20600 wZNN
Reimburse the 3% amount in wZNN after they bridge: ~618 wZNN
The only other option is for Mercatox holders to lose 3% of their holdings.
Latest email
Hello Sol,
It would be really good if you could find someone from the community who needs to exchange about 20600 ZNN to avoid the bridge and paying interest. Alternatively, you can cover this percentage for us, as we previously agreed on.
We believe that within a few days after the swap, we will be able to activate the trading.
Best Regards,
Mercatox Team
Note: I don’t recall agreeing to reimbursing anything.
I’ll setup a poll in case the community wants to make a decision.
If someone wants to volunteer for any of the options, that’s fine as well.
Mercatox Decision
Community agrees to swap ZNN ↔ wZNN 1:1
Community agrees to reimburse bridge tax
Community agrees to losing 3% of holdings on Mercatox
