Multiblockchain – basic information about the Kanga Exchange IPO

What is Multiblockchain?

Multiblockchain (MB) is a solution enabling the connection of “the same token” found in different blockchain networks. Regardless of which blockchain we use on the exchange, the sent token will appear under one name. So we can send USDT on the Ethereum network and the BSC network, and on the stock exchange in the wallet we will see the total sum of both deposits.

What is the introduction of Multiblockchain on the Kanga Exchange?

          In order for us to be able to provide the expected functionality, these markets must be closed:

  • pSPCY / SPCY
  • pMATIC / MATIC
  • RCMATIC-PLN
  • RCMATIC-RCE

At a later time, the tokens will also be converted to one type:

  • SPCYMATIC -> SPCY
  • MATICERC20 -> MATIC
  • RCMATIC -> RCE

Example: if an exchange user has both pMATIC and MATIC tokens on his account, then after the conversion (performed automatically) he will only see the MATIC account status increased by the number of pMATIC (and pMATIC will be reset to zero).

The names of currencies with the “p” prefix will also change – it will be removed. So, for example, pAAVE will be called AAVE.

Additionally, during the withdrawal, you will need to select the network to be used for the withdrawal, e.g. for the MATIC token (formerly known as MATIC and a separate pMATIC), you will be able to choose the payment using both Ethereum and Polygon networks. Each network will have its own withdrawal limits and a separate cost.

One of the most anticipated features is the introduction of USDT transmission over the BSC network – it will be introduced:

  • for deposits on Kanga 02/02/2022
  • for withdrawals from Kanga to external wallets 02/10/2022

ATTENTION!!!! At the moment, it will not be possible to recover USDT deposits over the BSC network made from 01/09/2021 to 09/02/2022. We will inform you about the steps to be taken to recover incorrectly paid USDT deposits at the end of February 2022. Please be patient.

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