How do I convert my The DAO tokens into ethers on the Ethereum Classic chain?

The Goodies have announced Whitehat Withdrawal contract – Update and Next Steps and Whitehat Withdrawal contract – Last update before deployment that they will be deploying the withdrawal contracts whetcwithdraw.sol and crosswithdraw.sol to facilitate the withdrawal of Classic Ethers (ETCs) based on your The DAO tokens DAO balance at block 1,919,999 just prior to the hard fork.

See my Q&A How do I convert my The DAO tokens into ethers on the Ethereum Classic chain? for the steps to obtain your refund.

The withdrawal contract will be deployed at Aug 30th 2016 at 17:00 CET (UTC +2 hours) which is Aug 31st 2016 at 02:00 AEST (Sydney – UTC +10 hours).

From the total DAO token balance is 1153816598.7024669647216797 DAO. With the first round of withdrawals providing 0.36154920427511634237 per 1 ETC and 100 DAO = 1 ETC, there will be the potential to withdraw 4,171,614.72 ETCs from this contract.

Will there be a rush to sell 4,171,614.72 ETCs on the exchanges just after this time? From the past withdrawal and the activity on the StackExchange Q&A the, the withdrawals will proceed pretty slowly.

The Baddies will be able to withdraw their 3,642,408 ETC (~ 6.9 million USD) from Mon, 05 Sep 2016 21:56:22 GMT – see The DAO ETC Drains.

Update Aug 31 2016

There were a few hiccups in the deployment of the withdrawal contract. The deployment was one hour earlier than stated because of the difference between CET (Central Europe Time) and CEST (Central Europe Summer Time)  Then the withdrawal contract would not accept a 0% donation to the Goodies so the withdrawal contract is being upgraded. But all went well!

Update Sep 1 2016

Kraken has now released the frozen funds into the withdrawal contract. Now just waiting for Poloniex to do the same.

DAOBalanceSnapShot Contract

The contents of this contract has been verified – see How can I verify that my The DAO token balance is correct when the Goodies provide an ETC refund on the Ethereum Classic chain?.

From dao_balance_snapshot.sol:

WhitehatWithdraw Contract

From whetcwithdraw.sol:

This entry was posted in Blog and tagged , , , , , , . Bookmark the permalink.