Bitvavo supports the swap from NuCypher (NU) and Keep Network (KEEP) to the Threshold (T) token

Keep Network (KEEP) and NuCypher (NU) tokens merge to create Threshold token (T). With the merger, the KEEP and NU token holders will get the new token T. 

On February 16th we will swap all NuCyher (NU) and Keep Network (KEEP) tokens in Bitvavo-hosted wallets to Threshold (T). The ratios for these swaps are the following: 1 NuCypher (NU): 3.26 Threshold (T)1 KEEP Network (KEEP): 4.78 Threshold (T)There are two different timelines because the NuCypher market is already halted and Keep Network is currently still available for trading. 

Bitvavo will stick to the following timeline for the KEEP token swap:

• On the 10th of February at 15:00 CET, trading and deposits of KEEP will be closed.
• On the 15th of February at 15:00 CET, withdrawals of KEEP will be closed.
• On the 16th of February at 12:00 CET, we will swap your KEEP balance to T.
• On the 16th of February at 15:00 CET, trading will open for T/EUR.

Bitvavo will stick to the following timeline for the NU token swap:

• The market for NU will remain closed until the swap is completed. Deposits will be closed on February 8th.
• On the 15th of February at 15:00 CET, withdrawals of NU will be closed.
• On the 16th of February at 12:00 CET, we will swap your NU balance to T.
• On the 16th of February at 15:00 CET, trading will open for T/EUR.

What do you have to do?

If you want your Keep Network or NuCypher to be swapped for Threshold, then no action is required. Bitvavo will automatically facilitate this swap for you. After the swap, both markets will be closed indefinitely. If you don't want us to convert your Keep Network or NuCypher to Threshold, we advise you to withdraw your assets before the 15th of February. After this date withdrawals of Keep Network and NuCypher are no longer possible.

About Threshold (T)

Threshold is a way to keep your information and digital assets private while using a public blockchain. It is the first ever on-chain merger between two decentralised networks with a shared goal. At the core of this unified network will be Keep’s ability to encrypt, store, and transmit private data through off-chain containers. On top of this infrastructure, the network will run NuCypher’s popular privacy tools. *Threshold Network