Android Wallet Now Supports All ERC-20 Tokens
November 11th, 2018 // Sacramento, CA
Monarch Blockchain Corporation has officially pushed an update to support all ERC-20 tokens on the Android wallet. This means any cryptocurrency that is built on Ethereum’s network can be sent, stored, and received using the iOS, Android, or desktop version of the Monarch Wallet. Users can also store custom ERC-20 tokens by entering their unique contract address in their ERC-20 Settings.
Included in this update is the default wallet for MTP, or Monarch Promo Tokens. MTP are used to compensate those who have worked on the token sale and development of the Monarch Wallet. MTP tokens will be rendered useless on December 31st, 2018 when Monarch’s smart contract airdrops Monarch Tokens (MT) to all MTP holders. MT will be airdropped in a 1:1 ratio of the MTP the user holds. Example: If you have 100 MTP on your Monarch Wallet, you will be airdropped 100 MT.
Any users that currently have MTP must keep them stored on their Monarch Wallet until the start of 2019 so their MT are secured. To send MTP to your Monarch Wallet, send the tokens to your Ethereum address on the Monarch Wallet. Make sure you have your private seed recorded in a physical location external to your Monarch Wallet because the Monarch Wallet is 100% decentralized and Monarch Blockchain Corporation does not store your private keys or seed.
Remember, you will need some Ethereum (ETH) in your sending wallet to use the Ethereum network to send your MTP to the Monarch Wallet. Transactions will not be approved without enough ETH to pay for gas fees.
Any additional questions can be answered on Monarch’s Official Community Channel.