[#350] Date: 14th May, 2022
The weekend is the time for me to catch up on some crypto stuff as I go through my portfolio. Today, I spent some time taking care of my SLP (Simple Ledger Protocol) tokens that have been parked with Bitcoin.com. It's so annoying that it's as though the universe knows that I have a three-day long weekend over here and throw some work at me.
I have just moved my SLP tokens to my Bitcoin.com wallet not too long ago upon learning that Mint Bot on Telegram will be shutting down on 5th June, 2022, and if we value the SLP tokens, we should withdraw and keep them somewhere else. So, it was exactly what I did.
Actually, before I learned about Bitcoin Cash, I had no idea what Bitcoin Cash SLP Tokens were. Some time ago, talking to a friend regarding these SLP tokens like Honk and Spice, he was surprised that I didn't know about them BEFORE getting acquainted with Bitcoin Cash. Teehee... yeah, so that was my crypto journey.
Anyway, this week, I learned that Bitcoin.com will be deprecating support for SLP tokens and will instead, support the more popular smartBCH. They reckoned that most of the SLP tokens have already migrated to smartBCH and we can just bridge from SLP to SEP20. Well, unfortunately, most of the SLP tokens that I still hold are not present in smartBCH, which is precisely the reason that I still hold them in SLP!
After searching and asking around, someone told me that I can move to Zapit. So, I spent some time transferring, only to realize that if I do have a better option later, I would have to send some BCH to my Zapit wallet to transfer out the SLP tokens, to be used as gas fee. Duhhhhh if I had realized it earlier, I would have moved them to Paytaca instead, as I have some BCH there already, so I won't have to leave some BCH dust in an abandoned wallet. I hate wastage!
Basically, all the work that I did previously from transferring SLPs from Mint Bot to a BCH wallet was in vain. And then having to transfer them out to another wallet and wasting BCH gas on the transfers... DUH! Don't like to be put to go through hoops and hurdles.
Well, I've done what needs doing even though there is no deadline set yet for the deprecation of Bitcoin.com wallet for SLP tokens, so there is still time to do it if you haven't.
Take note that while not all SLP projects have moved to smartBCH, the ones that have are:
Going through my list of SLP tokens, I realized that I have some $JOY. Actually, the bridge for JOY SLP to SEP20 has already closed, but thankfully, there were still funds in Spice Bot and I was able to still salvage my JOY and give it more value as SEP20 $JOY. It was "only" 110 units but it's still money, especially now that $JOY is so hot. I now have extra funds to mint more Smart Babies at 10 $JOY per NFT. Hahaha!!
Oh, by the way, if you are feeling rich and would like to donate your SLP tokens, you can do so by donating to eatBCH, to a designated SLP address.
For more information on this Bitcoin.com wallet update, tutorial on bridging from SLP to SEP20, recommended wallets and eatBCH, just check out this official article. Don't wait until the last minute to transfer. Again, my choice would have been Paytaca had I known that it is one of the recommended wallets for SLP support. Sigh!
Note: Shortly after completing my article, I received an email from CoinFLEX that they too are deprecating support for SLP completely.
*Lead photo by Lukas.