CHANGE (CAG)
Change token swap – Issuance of Equity-like Tokens
The swap itself is divided into 2 stages. From the 16th of September to the 15th of December, 2019 we will exchange each CAG token to CNG token on a 1:1 ratio. During this phase tokenholders vote with their CAG tokens, whether they support the swap or not. If 51% of all community votes cast are for it, then it is official and after the voting we start exchanging your CAG balance to CNG balance.
More information here:
https://blog.getchange.com/change-token-swap-issuance-of-equity-like-tokens/
https://blog.getchange.com/all-you-need-to-know-about-cag-token-swap/
Read the latest post regarding CHANGE token swap to stay in-the-know about what’s coming next! The whole article you can read here: https://mailchi.mp/getchange.com/token-swap-reminder
The Change token community vote has ended and the results are as follows:
Total votes in favour: 14,722,215.59 (100%)
Total votes against: 0 (0%)
In total 14,722,215.59 CAG was sent into the app to participate in the vote.
As a result of the vote, users will receive their equity-like CNG tokens in their Change wallet by December 20th.
The CNG equity-like token will start trading in the app on January 1st.
Swapping will continue after January 1st, 2020, but with a daily decreasing ratio. Each day that passes after the 1st will incrementally decrease the CAG to CNG ratio.
According to the CNG token terms, the future equity shares will be calculated at a 1,000:1 ratio - meaning that 1,000 CNG tokens will be equal to one share of Change Group. Additionally, fractional holdings of CNG (i.e. 1,900 CNG instead of 1,000) will be rounded down to the nearest thousand. For example, 1,900 CNG equals 1,000 CNG and will be worth 1 equity share in Change Group.