KuCoin will begin the QKC (QuarkChain) MainNet upgrade as well as finish the token swap of MainNet automatically for the holders of QKC. The crypto exchange will close QKC withdrawal and deposit services on 9th August 2019 at 18:00 (UTC+8) temporarily. It will ensure that the QKC MainNet has a smooth release and trouble-free swap proceedings.
KuCoin updated the crypto community about the development through an official announcement on Twitter dated 8th August 2019, followed by a detailed blog post.
KuCoin Will Start the QuarkChain (QKC) MainNet Token Swap
To ensure the smooth release of the QKC MainNet & the proceeding of the swap, KuCoin will close the QKC deposit & withdrawal temporarily at 18:00, August 9, 2019 (UTC+8).
— KuCoin Updates (@KuCoinUpdates) August 9, 2019
As noted in the blog post, there will be automatic swapping of the QKC tokens into the QKC MainNet assets. Moreover, the system will be generating a new address for MainNet coin deposits. Once the exchange reopens its withdrawal and deposit services, users will be able to utilize the new deposit address.
KuCoin also declared that it would keep supporting ERC-20 QuarkChain token deposits to the early ERC20 address. The QuarkChain tokens held on the KuCoin exchange will be replaced automatically with the MainNet ones.