Guide: Prepare for the CPX:PHX merge & swap now!

This guide has been created to assist with the impending token swap from CPX (NEP5) to PHX (NEP5). All NEP5 addresses holding CPX will receive 2.5 PHX for each 1 CPX held.

Important dates

  • Monday, Nov 2: Apex/Phoenix teams will mint new PHX/PHB tokens to support the new merged supply

FAQ

1. What is the best way to prepare for the swap?

  • Have your CPX tokens in a NEO Address to which you own the keys (ie private key, Ledger, keystore + password, etc.). Examples include O3 wallet and Neon wallet.

2. I use Neon Wallet, 03 Wallet, Atomic Wallet, etc. Will I still receive my PHX swap tokens?

  • Yes you will. The important thing here is that you have control over the address and have the keys.

3. I have my tokens on a CEX, centralized exchange (Bitbns, BitZ, Hotbit, Lbank). Will I still receive my PHX swap tokens?

  • Assume the answer to be no. You should — but you may experience a significant delay, and the exchange may choose not to honor the swap. The PHX token will first go to the exchange’s wallet address, and the exchange would be responsible for distributing the swapped PHX tokens properly to all accounts that held CPX at the time of the snapshot. This means that the exchange is then responsible for sending crediting the tokens to your account (requires trust).

4. I have my tokens on Switcheo, will I still receive my PHX swap tokens?

  • Yes, you will. But, we still recommend that you cancel any open orders and withdraw your CPX from the exchange’s smart contract prior to the snapshot. This will also reduce the workload on the Switcheo team distributing the swapped tokens to those still having their tokens on the smart contract.

5. How much PHX will I receive?

  • The swap will be 1 CPX : 2.5 PHX. For each 1 CPX you hold, you will receive 2.5 PHX.

6. What is the difference between PHX and PHB?

  • PHX is the Phoenix Nep5 token on the NEO blockchain.

7. Can I send PHX directly to Binance or another exchange after I receive it?

  • Yes, you are free to do as you please once you have received the PHX token. Pay close attention to ensure whether the exchange you are sending to supports either the PHX (Nep5) or PHB (Bep2) version of the token.

8. Can I swap PHB back to PHX?

  • This process is currently handled only on the Phoenix Red Pulse site. The site is currently undergoing maintenance.

9. Which wallets can I store the PHX (Nep5) in?

  • Continue to store using your existing methods that you have been using for CPX — CPX and PHX are both Nep5 tokens on the NEO ecosystem.

10. I have swapped my PHX to PHB (Bep2) on Binance. Where can I store my PHB?

11. I hold PHX, will I get anything from the swap?

  • No. This swap is only for CPX token holders.

12. What happens to my CPX tokens after the swap?

  • The CPX will remain in your address with the same balanceas before. However, the token is useless/has been deprecated. CPX trading will halt/be removed on all current exchanges.

13. What are the tokenomics of Phoenix Red Pulse merged with Apex?

  • Please wait for a future news release on these details.

14. Is PHX/PHB stakeable?

  • Please wait for a future news release on these details.

15. How many new tokens are being minted?

  • The project team will mint an additional 1,692,472,474 Phoenix tokens (on both the parallel PHX Nep5 and PHB Bep2 tokens), representing 2.5x the 676,988,989.55 CPX total token supply.

16. Which markets/exchanges are PPX/PHB available on?

Preparing for the swap

1. Switcheo

Recommended Action: Cancel any existing/open orders and move all CPX tokens back to your wallet. This removes the tokens from the Switcheo smart contract, and makes for a smoother token distribution. Make sure that you check all wallets that you have previously used with Switcheo to ensure that you do not forget to cancel any orders / withdraw any contract balances.

The ‘Contract Balance’ and ‘In Open Order’ will show zero balances confirming that tokens are back in your wallet. If you have any non zero balances; cancel any open trades, select ‘Withdraw’ and transfer all CPX tokens back to your wallet. You will receive the PHX swap tokens directly to your NEO wallet.

Alternative: In the event your CPX tokens were in the Switcheo smart contract at the time of the snapshot, the Switcheo/Apex teams will need to complete additional steps to ensure your PHX swap is completed properly. This will result in delays as it requires manual additional steps to distribute tokens.

2. Other Exchanges

We are aware of CPX trading at the following exchanges — BitZ, Hotbit, and Bitbns. A few may also have forgotten to withdraw their CPX from Lbank after trading ceased.

Highly Recommended Action: Cancel existing orders and withdraw your CPX tokens back to a wallet to which you own the keys (see above for alternatives).

Alternative: If you are unable to withdraw your CPX tokens from the exchange to your own wallet prior to the snapshot, the exchange will receive your PHX tokens. We have reached out to all three exchanges above to ensure that they are aware of the swap, and have requested that they cease CPX trading prior to the snapshot, but we cannot guarantee that all exchanges will honor the swap or cease trading in a timely manner.

If your tokens are on one of these exchanges at the time of the swap, you are relying on the exchange to manually credit your account with the appropriate amount of PHX tokens. While we expect all exchanges to comply and properly distribute the PHX, there is always a risk this may not happen on one or more exchanges. At a minimum, you will experience a delay in receiving your PHX tokens.

Depositing PHX to Binance

Ensure that you have selected the NEP5 network for your deposits. Even though all NEo based wallets should have safeguards preventing user errors, depositing Nep5 PHX to a Bep2 address can result in the loss of your tokens. Contact Binance Support for additional questions.

Thank you for your time,

APEX & The Community Management team

APEX Network

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