I am trying to swap ETH for IOTX. When connecting to an outside exchnage I keep getting " Invalid address " in the recipiant field. Doing it within MetaMask gives offers that I’ll receive more than 25% less tokens - in this case more than 500 fewer - so I’d prefer not to use that option. I’ve added the IOTX token to MetaMask no problem. Support at the exchange tells me I need a recipiant address that starts with io. Anyone know if this is doable with MM?
TIA!
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First and foremost, please make sure you are interacting with a legitimate token.
It is likely that you will receive far fewer tokens when swapping for IOTX because of significant price impact due to low liquidity. I’m not sure what the support at the exchange means when they are saying you need a recipient address that starts with io. Please also make sure you are interacting with a legitimate exchange.
Here is some more information on our Knowledge Base:
After looking into this further it seems IOTX runs a native wallet whose addresses start with io. Quoting IOTX Team on Mediumcom:
" ERC20-IOTX and Native IOTX tokens
As we shared in our previous blog post, there are currently two versions of the IOTX token: ERC20-IOTX and Native IOTX. The value of these tokens is the same (1:1 swap), but they are currently used for different things:
ERC20-IOTX: used for staking/voting on Ethereum. ERC20-IOTX has trading on Binance, Bittrex, Upbit, Kucoin, Gate, etc. for the past year.
Native IOTX: used for txns and smart contracts on IoTeX Mainnet. This is a NEW token trading on PIEXGO (BTC, ETH, USDT pairs) as of May 22!"
So changelly platform is swapping to the native token thus the better offer, but you must have the native token IOTX wallet to do the swap. The ERC20-IOTX version is what you are swapping for over the Etherium Mainnet using MetaMask. So while I am not overjoyed by the amount of IOTX tokens for the price after gas etc, I managed to get the swap done anyway.
Thanks for your replies and advice! Cheers!
“Nemo Me Impune Lacesset”
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