What do I need to know before I start the process?

The first step in the ICN for eICN security token exchange process is submitting non-binding interest, which will help us process the exchange easily and efficiently. Please consider finding additional information in our blog post: Everything You Need to Know about eICN.

• Tier 2 verification is obligatory for exchanging ICN for eICN security tokens 

All eligible holders of ICN tokens will have the right to exchange their ICN tokens for eICN security tokens of the Liechtenstein holding company ICONOMI AG. However, eligibility requires Tier 2 verification on the ICONOMI platform. If you are a US citizen or otherwise ineligible for Tier 2 verification, see this article.

If you haven’t already, be sure to verify your account to Tier 2. 

• You can submit your non-binding interest for exchanging ICN for eICN security tokens on the ICONOMI platform only 

If the ICN you want to exchange is already on the ICONOMI platform, you can use these instructions to start the process.

If your ICN tokens are stored in your own private wallet (like MyEtherWallet) or on an exchange, you will first need to transfer your ICN to your account on the ICONOMI platform. Please also check announcements from exchanges regarding their withdrawal deadlines for ICN. 

• US and other ICN token holders not eligible for Tier 2 verification 

 Please read the instructions here.

• Please check ”Important dates and Exchange rate” article 

After December 31, 2019, exchange of ICN tokens for eICN security tokens will no longer be possible. All ICN tokens still on the ICONOMI platform on December 31, 2019 will automatically be converted to ETH at the exchange rate valid at that time.