About the RChain (RHOC) MainNet Token Swap

Posted by on December 29, 2018 in News

RChain is launching its MainNet in Q2 2019. RHOC tokens will be switched to REV tokens. To make sure you get your REV tokens, be in control of your private keys or keep your RHOC on KuCoin by Dec 31, 2018.

In overly simple terms, the current RChain token RHOC (which exists on the Ethereum Network) is going to be replaced by REV on the new RChain network.

To make sure you get your REV, you need to be in control of your private keys (so you can claim your REV), or alternatively, you can keep your RHOC on KuCoin and let them swap your tokens for you.

It is important that you don’t keep your RHOC in a third party wallet that doesn’t give you direct access to your keys or that isn’t supporting the swap… as RHOC tokens will be worthless once the new main net launches (since REV is taking the place of RHOC).

For more information see:

Update and How to Sell Your Rev if You Have it

KuCoin didn’t come through with the swap (oof), but if you had your private keys you can still claim and sell your REV (and if you just have REV, you can sell it). I did the following steps to sell my REV to DAI.

Here is what you do:

  1. Import your Ethereum private key into MyRchainWallet. Obviously, you want to use the key of the wallet you had your Rchain in when the MainNet swap occurred and you want to move all your ERC20s out of there first.
  2. Send your REV to MEXC (ref link) to sell it (they are a useable exchange with no KYC for small accounts).

Simple as that. Comment below if you have issues.

Author: Thomas DeMichele

Thomas DeMichele has been working in the cryptocurrency information space since 2015 when CryptocurrencyFacts.com was created. He has contributed to MakerDAO, Alpha Bot (the number one crypto bot on Discord),...

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AK

Hello Thomas,

Thank you for your article. I tried using my private key in the link that you provided and used the Main Node at the top of the Tomislav wallet.

Despite that, with all the RHOC tokens that I purchased in October of 2018, the balance shows zero when I enter my private key.

The Telegram channel for RHOC is something where I cannot post seeking help.

Do you have a different recommendation?

Best Regards,
AK

Reply
Thomas DeMicheleThe Author

I got this to work, but I for sure used https://myrchainwallet.com, and not another wallet. I only know how to do it that way.

Reply
Tom

I still have a pile of Rhoc in December 2020. Can I convert it? If not what do I do with it??

Reply
Thomas DeMicheleThe Author

Yeah, you can, it is explained here. Basically, download the new rv wallet and claim the balance with your old keys. https://developer.rchain.coop/token-swap.html

Technically should all work, but this project has dropped the ball hard for years on end, so be careful. I did mine with MyRchainWallet if that helps.

Reply
Marco

I had original ERC-20 RHOC tokens in ETH wallet. I know new REV tokens were issued with their mainnet launch, but how do I claim or access them? I can them in the rev block explorer, but how do I access through the new wallet?

Reply
Thomas DeMicheleThe Author

If you had ERC-20 RHOC you automatically have REV on the new chain. I did this process a year ago (I have claimed my REV and successfully sold some of it), but if my memory is correct it is as simple as this:

1. Export your private keys for the wallet you have your ERC-20 RHOC in (I would personally move all my other coins first to be safe).
2. Import your private keys into MyRchainWallet https://myrchainwallet.com/#/user/restore (if you want to verify this is correct, you can find confirmation on the website and on their Discord). https://developer.rchain.coop/token-swap.html
3. You can no access your balance. So you can send it to MCX and sell it for example. You can see your other exchange choices here: https://www.coingecko.com/en/coins/rchain

So the gist is, export your ETH wallet keys that had rev on them, and import them into MyRchainWallet or another REV wallet. Simple as that really.

TIP: You can browse the Rchain Discord and ask and get help. But please please please be careful of scammers. Never give anyone your private keys and don’t trust any links you get. The official links are on Rchain’s website and I already gave you a link I used and know works 🙂

Reply
Marco

Hello Thomas,

Thank you very much for the directions for claiming/accessing the REV from the original ERC-20 RHOC. I have my RHOC on a ledger hardware wallet. I am not sure how to export the keys from my ledger safely. Do you have any idea about doing this from a hardward wallet? If I had it in a regular myetherwallet it would be easier to obtain and import the private key.

Thanks again,

Thomas DeMicheleThe Author

Ahhh…. okay,hmmm. I have never done this, but I believe you can export your account to a wallet that uses the same standards as Ledger (BIP32, 39, etc) and then hopefully choose a wallet that lets you export your private keys (ledger does not… it would defeat the purpose of the Ledger). I would only use official ledger documentation for this, here is the first step https://support.ledger.com/hc/en-us/articles/115005297709-Export-your-accounts

Okay, from there you would then import your account into the next wallet. So let’s say Atomic wallet.

Now Atomic wallet lets us get our private key, and then that goes into MyRchain Wallet.

And now send the REV to MXC and market sell it, and then go into Discord and explain to the community how annoying this hard fork was :D.

Half joking. But that is a method that you could do that should work. I have used all the wallets in question, but haven’t done this full process. Should be good to go.

Also, again, move your other crypto first to be safe. Which I get in this case is not ideal since to be extra safe we are saying move all your crypto off this ledger and onto another one just so when you export your account to Atomic wallet you don’t risk the seed…. but Atomic is safe and you can I think put the seed in offline, so. Anyway, hopefully you get crypto enough to avoid the pitfalls, and hope this helps and works.

Hope that works.

NOTE: Here is more BIP39 etc wallets https://coinguides.org/bip39-wallets