How can I convert WXEP to XEP and vice versa?

XEP coins are the native token of Electra Protocol and come with the full functionalites of the blockchain.

WXEP tokens are alternative means of trading XEP on the BNB Chain using the PancakeSwap exchange. WXEP is traded 1:1 for XEP. However, WXEP tokens do not have the same functionalities as XEP coins (such as XEP staking rewards, instant transactions and ultra-low XEP gas fees). If you want to keep your Wrapped XEPs, you can transfer them to a 3rd party wallet, such as Trust Wallet or MetaMask. Another option is to swap Wrapped XEP tokens (BNB Chain blockchain) to XEP coins (Electra Protocol blockchain), see below.

The recommended way to convert XEP to WXEP (or WXEP to XEP) is to use the Txbit.io exchange:

• WXEP to XEP: https://txbit.io/Convert/WXEP
• XEP to WXEP: https://txbit.io/Convert/XEP

Please note that the conversion between WXP and XEP is 1:1 in value, but the exchange will add fees to the conversion. Fees will also be applied for withdrawing funds from the Txbit exchange to another wallet (4000 XEP per transaction, as of January 2022).

The Electra Protocol development team is also planning to release a WXEP-XEP bridge, which will allow users to perform the WXEP-XEP and XEP-WXEP conversions without the need of any centralized exchange.

Txbit does only allow XEP legacy addresses to be used for withdrawing coins. This means that the XEP legacy address you are sending tokens to needs to start with a “P” (and not any other character).

Legacy addresses are provided by the XEP Desktop Wallet. To generate a legacy address using the XEP Desktop Wallet, perform these steps:

Open the menu “Window” > “Console” and type:

getnewaddress (NAME) legacy

Note: Replace (NAME) to a name that suits you, (for example, txbit)

Now press “enter” and a legacy address is created, starting with a “P”, which you can use to send your coins to.