Note: Transferring tokens to the smart contract address will not redeem them. You need to complete the specific requestWithdrawal and withdraw functions either through our dApp or by interacting with the contract directly.
Mechanism 1: Using the dApp on our automated investor portal
To redeem tokens, a dApp is hosted on the Invictus website in the investor portal.
This dApp requires that you redeem via MetaMask or the Invictus Wallet.
- Navigate to the 'redeem' section under 'CRYPTO20'
- Select the wallet to redeem from. This will either be your Invictus Wallet or a MetaMask account. If your C20 tokens are in a different address, you must transfer them to one of these addresses to use the redemption dApp
- Make sure your Invictus Wallet/MetaMask account has a small amount of ETH in it to cover network transaction fees; 0.01 is usually sufficient
- Confirm the amount of tokens to redeem. You will receive an estimate of the amount of ETH you will receive in return
- If using your Invictus Wallet: enter your wallet passcode and submit the transaction
- If using MetaMask: submit the transaction
- Wait for the price update, which happens every hour on the hour, and refresh the page. You should be able to execute the withdraw now either from MetaMask or the Invictus Wallet. If using your Invictus Wallet, do not forget to enter your passcode.
- You must complete the withdrawal to receive your ETH
It is also possible to redeem tokens from a hardware wallet, in concert with MetaMask, and thus you can use the website dApp. Please see the following:
- Redeeming with Trezor/MetaMask: https://wiki.trezor.io/Apps:MetaMask
- Redeeming with Ledger/MetaMask: https://www.ledger.com/metamask/
If you are having trouble connecting, please troubleshoot with the help of this article.
Mechanism 2: Direct request from the Crypto20 smart contract
You can alternatively redeem by interacting with the contract directly. This follows a similar process to our redemption dApp but the user must complete more steps. Two popular interfaces for doing this are MyCrypto and MyEtherWallet. This method is not restricted to MetaMask/the Invictus Wallet.
This guide will cover using MyCrypto but a very similar process can be followed with MyEtherWallet. Remember, you still need to be redeeming from a whitelisted address.
- Go to https://mycrypto.com/contracts/interact - make sure you are at the correct website with a valid SSL certificate
- Enter the contract address in that field: 0x26E75307Fc0C021472fEb8F727839531F112f317
- Enter the ABI in the ABI/JSON field. Copy and paste the ABI from this page. It is the second box
- Select access and then the 'requestWithdrawal' function
- Specify the amount of tokens you wish to redeem including all 18 decimals. For example, 50 tokens is written 50e18. If you want to include decimal places 50.15 tokens is written 50.15e18. You do not have to write anything in the 'value' field
- Unlock/access your wallet
- Untick 'automatically calculate gas limit' and enter a high gas limit to ensure success, for example 200,000. Unused gas will be refunded. For optimal GWEI see here. For an explanation of what gas limit and GWEI are and why these settings are important see this article
- Send the transaction. You can track whether it succeeded on Etherscan
- Wait for the price update, which happens every hour on the hour, and then (following 1-6 again if necessary) select the 'withdraw' function to complete the withdrawal
- You must complete the withdraw transaction to receive your ETH
There is a troubleshooting article, if you are still having problems, here.