How to Access Your Free PRC-20’s when PulseChain Launches (Date TBD)
What is PulseChain ($PLS) ?
PulseChain is a Full-System-State Fork of Ethereum. It is basically a copy of Ethereum’s core code but with several enhancements for better performance, improved environmental impact, and lower transaction fees. PulseChain launch date is still TBD. The PulseChain platform is claimed to be the largest airdrop, or initial distribution, in the history of blockchain.
PulseChain is the network while Pulse ($PLS is the proposed ticker) is the native coin of the PulseChain system. In essence, PulseChain is an Ethereum hard-fork with a snapshot of the entire Ethereum blockchain converted into a Proof-of-Stake blockchain.
What is a PRC-20 ?
PRC-20’s are the PulseChain version of ERC-20 tokens held in a crypto wallet. Unlike previous Ethereum forks that have launched empty, the PulseChain fork is the first to copy the entire Ethereum system state in what has been dubbed “the world’s largest airdrop.” This essentially means that every smart contract, ERC-20 token, and NFT in existence today on the Ethereum network will be duplicated onto this new chain essentially doubling your current holdings.
Do I have to claim my free PRC-20’s ?
No, there is no claims process to claim your PRC-20’s. PulseChain is essentially making a copy of every ERC-20 token and NFT in your wallet, and then depositing those copies into your same wallet address on the PulseChain. It makes no difference whether you use a software wallet (like MetaMask or Trust Wallet) or a hardware wallet (such as Trezor or Ledger). All Ethereum network wallet addresses will receive their free PRC-20 copies automatically without needing to perform any claims process.
I hold my tokens on Coinbase (or some other centralized exchange). Will those be copied as well ?
Yes. They will be copied into the exchange’s wallet, not yours. When you buy coins on a centralized exchange, you don’t technically own them; the exchange does. They only become yours once you move them to a non-custodial wallet that you possess the keys to. There is a saying in crypto, “Not your keys, not your crypto.”
How to prepare for PulseChain launch
If you hold any ERC-20’s on a centralized exchange such as Coinbase, send them to a non-custodial wallet that you hold the keys to. You will need to pay a fee to the exchange and an Ethereum network gas fee, so if the quantity and value of the token you are attempting to send is low, it may not be worth sending. Only you can decide if it is worth it to you. I only sent my largest balances and left the low-balance ones on the exchange as it did not seem worth it to me.
Another factor to consider is that once PulseChain launches, the PulseChain version of those tokens will be available for purchase on PulseX and may be at a discount over the current Ethereum version price. It may be more beneficial to wait and buy on PulseX at launch rather than pay the eth gas fee to transfer them now.
If you have ERC-20s that are currently on other networks such as Polygon or Binance Smart Chain you may want to bridge them over to Ethereum so they will be copied to PulseChain. Again, weigh the cost of the fees against the value of the asset to decide whether or not this makes sense for you.
V2b Testnet is Live
Currently, the second version of the PulseChain Testnet “version 2b” is live with validator rotation, registration, and staking. You can connect MetaMask now to view a copy of all of your ERC20 Tokens.
You can also go to https://app.v2b.testnet.pulsex.com/ and click on “connect wallet” and follow the prompts in order to automatically import the correct RPC settings to Metamask with just a click of a button!