Mainnet swap refers to the shift of a cryptocurrency project from one blockchain network to another (which in most cases is its own native blockchain network).
What Is a Mainnet Swap?
Better Understand Mainnet Swap
When Does Mainnet Swap Occur?
Typically, a mainnet swap occurs when a cryptocurrency project moves from one blockchain to another or migrates its tokens from a third-party blockchain to its native chain. However, the mainnet swap isn’t associated exclusively with new blockchains. A project may announce it if it decides to move from one protocol to another. One example would be the migration of tokens from Bitcoin-based protocol to Ethereum network.
When it comes to the specifics of a mainnet swap’s execution, it varies from project to project. The majority of projects give a deadline to users for the migration of tokens. Failing to do so means you will end up losing access to your tokens as they’re usually burned after the given deadline.
How Is the Swap Done?
Depending on the main features of execution, users can either manually swap their tokens or leave them to the platform. For example, Binance allowed users to leave their previously issued tokens on their accounts, so the platform could automatically swap their tokens with native tokens.