fbpx
18. December 2023

Introducing ACT Swap: The Ultimate Way to Benefit from your eActivity

We are thrilled to announce that ACT Swap, the long-awaited feature that allows you to exchange your eActivity (ACT) tokens to ECS, is now live! 

We know that our community has been waiting for this for a long time and we are happy to share this great news with everyone! The ACT Swap marks the biggest milestone for our ecosystem this year and demonstrates our commitment to the community. As our CEO Sally Meouche-Ghrawi says, following up her statement in our AMA today: “We are very excited to launch the ACT Swap, which is a game-changer for our community. ACT Swap gives you the freedom and flexibility to convert your ACT tokens to ECS and use them for various purposes within our platform and beyond. We are grateful for your support and trust, and we hope that you are as excited about this development as we are.” 

How ACT Swap Works

ACT Swap offers a straightforward and secure method for exchanging your ACT tokens for ECS. Here’s a breakdown of its key features and guidelines:  

  • Eligibility: Both personal and business profiles are eligible to swap ACT for ECS. 
  • Exchange Rate: The swap rate between ACT and ECS is fixed at 1:1. 
  • Swap Limitation: Users are permitted to swap only a certain percentage between 5% and 15% of their total ACT holdings within a given duration in time, known as the Cycle Rate.  
  • Cycle Duration: The duration of each swap cycle typically aligns with a calendar month. A cycle concludes at the month’s end, with its commencement tied to a user’s initial ACT to ECS exchange. 
  • Maximum Swap Per Cycle: Each address can exchange a maximum of 50,000 ACT per cycle, provided it falls within the allotted Cycle Rate. 
  • Frequency of Swaps: Users can perform multiple swaps within a cycle, subject to the Cycle Rate and a cap of 50,000 ACT per user per cycle.
  • Qualifying Activity: To be eligible for a swap, users must have completed a purchase using ECS in the preceding month. Other transactions like transfers, eVault claims, or voting don’t count towards this Consumer and
  • Merchant Activity: Consumers should make at least one purchase at any merchant, and merchants should receive at least one purchase from any consumer. 
  • Subscription Benefits: For Gold and Platinum subscribers, the purchase requirement is waived, allowing swaps without the prerequisite of a prior purchase. 
  • Initial Grace Period: In the first six months of ACT Swap, the purchase requirement is lifted for all users, allowing unrestricted exchanges of ACT.  
  • Variable Cycle Rate: The Cycle Rate will fluctuate between 5% and 15%, influenced by ACT’s growth and community activity. The initial cycle starts at a 5% rate, potentially increasing up to 15% in subsequent cycles. The first cycle starts with a base rate of 5%. The following cycles might have a higher percentage rate up to 15%.  
  • Minimal ECS Amount: You need to have around 0.01 ECS on each wallet where you want to initiate the ACT Swap. 

How do cycles work?

A swap cycle defines the time frame within which you can convert a specific amount of your ACT tokens to ECS, governed by your cycle rate. The cycle rate is the portion of your total ACT holdings that you’re allowed to swap during each cycle. For instance, if your cycle rate is 5% and you hold 100,000 ACT in your eCredits Wallet, you can exchange up to 5,000 ACT in a single cycle. Note that the cycle rate can vary from one cycle to another, influenced by factors like market traction and ACT circulation, although the exchange rate remains consistently at 1:1 for all cycles

The duration of each cycle is not fixed, but it always concludes at the end of the calendar month. The start of a cycle is determined by your first ACT to ECS swap in a given month. For example, if you conduct your first swap of the month on January 15th, the cycle would span from January 15th to the end of January.

Why ACT Swap?

This is an easy one: ACT Swap is essential for our ecosystem, as it allows everyone to enjoy fully the benefits of eCredits and the rewarding shopping experience it brings. ACT Swap is a powerful feature that gives you more control and choice over your ACT tokens. By swapping your ACT to ECS, you can: 

  • Access the full potential of the eCredits blockchain  
  • Use your eCredits (ECS) for various purposes, for instance, by shopping at the ECS acceptance points or within our platform, such as using eCredits additional features, paying for subscriptions, or participating in exclusive events and campaigns. 
  • Trade your ECS on external platforms. 

ACT Swap is a win-win situation for both you and the eCredits Ecosystem. By creating more ACT circulation, you are not only unlocking more value and utility for yourself, but also contributing to the growth and sustainability of our ecosystem. You are helping us create a more vibrant and diverse community, where everyone can benefit from the synergy of ACT and ECS.  

How to get started with ACT Swap?

Embarking on the ACT Swap journey is straightforward and quick. You just need an eCredits Wallet account and some ACT tokens. Here’s how to begin

  1. If you don’t already have an eCredits Wallet, download it from the App Store or Google Play. Once downloaded, either create a new account or log into your existing one.
  2. In the app, navigate to the “Assets” section and select the “ACT Swap” option.
  3. Input the amount of ACT you wish to swap and confirm the transaction.
  4. The eCredits blockchain will process your transaction, and your swapped ECS will be deposited into your eCredits Wallet. 

And that’s all there is to it! You’ve now successfully swapped ACT for ECS within the current cycle. If you hit the cycle’s swap limit, simply wait for the next cycle to commence, and you can swap your ACT once again

Have any questions or feedback?

We hope you are as excited as we are about ACT Swap, and we can’t wait to see how you use it. If you have any questions or feedback, please feel free to check our support portal for more information regarding the ACT Swap or contact our support. Also feel free to join our community on Telegram. We are always happy to hear from you and help you with any issues.
Thank you for being part of our amazing community and stay tuned for more updates and features coming soon! 

Latest Articles