You have OPQ in your wallet, but what do you do to get OPCT?

On October 25th the Opacity team deployed their token swap page on their website. As of now, only 287 addresses have the new token in their wallets. Of the 12,558 holders of the old token and the fact that the swap will be ending on January 1st, 2021 it's important to get them swapped if you have them in your wallet. More info on the swap can be found on the Opacity website

If you have no idea what I'm talking about, I have covered Opacity in the past. Briefly put, the developers are planning for it to be a decentralized storage platform with no user logins, passwords or emails associated to your account. Currently, Opacity is essentially an encrypted cloud storage platform and is running as expected, although, without the decentralized part (It uses Amazon as a backend, which is clearly a centralized body). 

Opacity payment plans. As of writing this, one OPQ (Which is now OPCT, after the swap) is equal to $0.006 on Kucoin and Mercatox. 2 years of storage for $0.01 is kind of a steal.

With the introduction out of the way, I'll get back to the token swap. If you held your tokens on one of the exchanges, both Kucoin and Mercatox participated in the swap, your tokens will automatically be changed to the new ones. The old ones are burned, as they are no longer required, and dumping them on the market is a shitty move, so they are removed after swapping. 

If you have your tokens on another wallet, such as a Ledger or in MyEtherWallet, you'll need to manually swap them through the website. In order to successfully complete the swap, you'll need to connect to the website using a web3 compatible wallet. I used Metamask to connect to the site and then connected my Ledger to Metamask in order to start the swap.

Connecting Ledger to Metamask or Trezor

If you have either a Ledger or Trezor hardware wallet, connecting it to Metamask is pretty straight forward. You'll need to make sure that your firmware and Ethereum app on the device is up-to-date otherwise, you'll run into problems. 

1. Open the Metamask plugin on your browser and log in.

2. Click on the big circle, with all the fancy colours inside it, and select Connect Hardware Wallet.



3. Depending on which wallet you have, select the appropriate one. Make sure that your device is plugged in first, before trying this. Click Connect when you are ready.


4. Select the account you want to interact with (The one that holds the OPQ token) and you're done!

Performing the swap

Now that your device is connected to Metamask, you can head back to the swap website. As soon as it loads, Metamask will popup and try to connect to the website. You need to approve this before you can carry on. Once Metamask is connected to the website, you are almost done. It should be noted that you will require a small amount of Ethereum in your wallet to pay gas fees, it shouldn't be any more than $5 for the whole process. 

Once you are ready, click on the Approve button. Metamask will pop up again requiring you to confirm the approval. You'll also need to approve this transaction on your device, also. (This usually involves pressing buttons on the device itself - just follow the instructions on the display). This step is required to allow the contract access to your OPQ tokens, giving it the ability to swap and then burn the redundant tokens.

After a short wait, the approval should be finished and a big green tick will be displayed beside the button. The Swap button will also be highlighted and is ready to be pressed. 

Just as before you need to approve the swap, this is exactly the same as the approval step. So just do as you did before. I'd like to stress, though, that you should have a look at the gas prices and total price of any transaction that you are carrying out this way. Always be aware of how much you are spending and if something seems off, do not confirm it.

Assuming all went well, your old OPQ tokens should now be gone and replaced with the new OPCT token. The swap ratio is 1:1, so you'll receive an equal amount of the new one. 

Connor & Elyse

Statement: Nothing to disclose

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