In case you missed it, the reason why we have to do this, is because the first version of the token was issued back in the very early days of native tokens on Cardano. At the time, there was still no specification about how to handle decimals or fractions of 1 token.
So, our first version didn’t have decimal digits. And it was also issued without a cap on its maximum supply.
This version 2, now has 6 decimal digits and its supply is hard capped at 69 million.. Just because! 69!
Now in the following video, you’ll see how to convert your old RNR tokens to this new version.
You basically just have to send 2 ADA with your old RNR to this converter address:
Please note that the 2 ADA here, guys, is important. This will be sent back to you together with your new RNR tokens, less the blockchain transaction fee of course. If you send only your old RNR without at least 2 ADA with it, it will just be burned and nothing will be sent back to you.
At the time of recording this video, Yoroi doesn’t allow us to specify the ADA amount when sending native tokens. It just automatically sets the ADA amount to the minimum required to send the tokens.. which is less than 2 ADA.
So don’t use Yoroi for this. Or any other wallet app that does not let you set both ADA and token amounts in your transaction.
Instead, we recommend using Typhon Wallet — which is a much better alternative to Yoroi. You just need restore your wallet account in either their web app, or the browser extension.
In the video demo above, the browser extension of Typhon is used.
And as to the RNR token itself, we continue building its value both through its utility, and through the additional rewards that you’ll get just from holding it.
A couple examples right now are the items you’ll see on the token’s new website: rnr-token.io.
Right now, we just recently started operating a validator node for the Umbrella Oracle network. We have also already reserved an Earth Node to operate in the World Mobile network.
A portion of our earnings here in UMB tokens, and later on, WMT tokens here also, will be distributed to the holders of RNR tokens some time very soon. (details will be published soon)
We should be able to start distributing the UMB tokens within the first half of next year — 2022. So just keep collecting those RNR tokens for now!
As of this writing, the only way to get RNR is by earning it through staking ADA with PHRCK stake pool. But we have a pending application for listing with MuesliSwap. And when that is accepted, you guys can then buy and sell your RNR tokens on MuesliSwap!
Alright, that’s it for now, guys. We still have a lot of work to do for this project!