Short version: Everyone who had basically any assets on Ethereum at the time of PulseChain fork (~may 2023) got a PRC20 copy of all their ERC20 tokens on PulseChain. However, because they are not backed by their Ethereum-equivalent assets, they are not worth nearly as much, but many DO have significant value!
Some early question to decide if you even care at all:
- Specific coin holders, including WBTC (currently trading for about $150), and HEX (still only about .015, but more valuable than it is on Ethereum currently!) should probably consider getting set up on PulseChain, or if you are absolutely set on bailing, swapping for an ETH-stablecoin-equivalent (e.g. 'USDC from Ethereum') and bridging them back to the ETH chain.
- If you mainly hold stablecoins (USDT,USDC,DAI) you do not need to waste your time, since PRC20s are not backed by their equivalent assets on Ethereum.
- ETH is also a special case - because it was turned into an airdrop of sorts for sacrifiers for the original PLS launch several years ago, that asset turned into equivalent PLS, meaning it is effecitvely worthless. So if you have only ETH, you also do not benefit from this at present.
- Other coins have various values on PulseX DEX .
If your asset is currently not worth much, you benefit from just keeping this information in the back of your head, as in a year or five it may become more valuable.
Anyway, if you want help claiming those assets, even if you just want to sell them and get the heck out of dodge, I am happy to advise in the comments of this post (and not in DMs, see below for why that is)
You will have to buy a miniscule amount of PLS in order to move your assets (earlier today a swap on PusleX was about 5000 PLS ($0.50), and if you decide to bridge back to Ethereum, then you will have a tiny amount of PLS to start the bridge, and then a standard (for Etherem anywya - probably between $3 and $20) on the Ethereum side to bridge the assets to Ethereum. You can probably see why PLS was created, since fees generally are a fraction of on ETH.
Folks including myself have offered this sort of help before on reddit, but this is inevitably seized on by DM scammers. You are welcome to view my reddit posting history before deciding whether to trust me. You should of course always follow standard procedures for keeping your crypto safe: never share your seed phrase or backup key with anyone, no matter who they claim to be, or what company they are affiliated with.
Thanks for reading this, and if you have questions, please just ask in the comments.
