The eosDAC erc20 tokens will be frozen at 23:59 UTC June 1st 2018. PLEASE ENSURE THAT ALL eosDAC TOKENS ARE OFF EXCHANGES THAT DO NOT SUPPORT THE CHANGE TO THE EOS CHAIN. Specific exchanges such as IDEX and ForkDelta only deal with ERC20 tokens so tokens should not be left on these exchanges as they will not be able to be moved off after the Freeze. A list of exchanges supporting the change will be held on the eosDAC website.
This is how the eosDAC team expect the EOS Chain to be launched.
The EOS erc20 tokens will be frozen just after 22:00 UTC June 2nd. Immediately following this various people will use tools to take a snapshot of the distribution which will be used as the base token for the chain.
On 3rd June, once the snapshot is verified by a sufficient number of people, different groups will launch a chain. There will probably be one main chain that honours the EOS ERC20 distribution that gets support from the vast majority of stakeholder.
Once launched, the EOS Tokens on the chain will be pre-staked meaning they will be ready for voting and locked.
Between 3rd and 5th of June, it is expected that the required 15% of tokens will have voted to start the chain. The chain will then begin fully functioning and elections for block producers can start and tokens can be unstaked.
Once the eosDAC launch team has verified the stability and resilience of the chain, eosDAC will deploy its token/member contract (https://github.com/eosdac/eosdactoken). Following this there will be an EOS based airdrop to the EOS accounts which have associated eosDAC.
Best Approach - Keep your eosDAC erc20 tokens on an Ethereum account that has been registered through the EOS Crowdsale contract and for which you have EOS public and private keys. Ideally also have some EOS in that account.
Next Best Approach - Keep your eosDAC erc20 tokens on an unregistered Ethereum account and transfer it afterwards - It may take some time to get a smooth process in place so will require patience. The eosDAC launch team advises everyone to register.
Some Risk - Hold eosDAC on an exchange which has stated that it will support the change to the EOS Chain. You must have faith in the exchange you use.
Definite loss - Hold eosDAC on an exchange which does not support the move to the EOS Chain.
The eosDAC launch team will provide regular updates during the process and we expect to be operational on the EOS Chain early in June.
For more information on eosDAC, please visit our website http://eosdac.io which includes our brand new one minute animated explainer.
