Ottó Explainer: PLUG Utility
Moving PLUG tokens to Ottó Blockchain.
Welcome to Ottó Plug Migration explainer. This article will demonstrate how to burn/migrate your ERC20 PLUG Tokens onto Ottó Blockchain in preparation for the 28-day fair value PLUG:CATAV exchange.
Firstly, head to https://onboarding.ottoblockchain.com to log in to your Ottó account. You can also find ‘Sign up’ there if you haven’t registered yet.
Navigating PLUG Utility
Once logged in, head to the dashboard and select ‘PLUG Utility’ on the left-hand side. It has an intro of what is PLUG Utility.
Connect wallet
Once in the ‘PLUG Utility’ tab select ‘Connect wallet to get started’ Be sure to connect with your bound ERC20 Wallet address or choose to bind an additional Ethereum wallet to your Ottó Account if that is where you are holding your PLUG tokens.
Go to Burn
After Signing in continue to ‘Go to burn PLUG’
Select Quantity
Select the amount of PLUG in your wallet that you want to burn. Once the burn is complete an equivalent amount will appear in your Ottó wallet and be visible from the dashboard overview.
Verify
Verify the balance you wish to burn and migrate to the Ottó Blockchain.
Approve Action
Once you have double-checked and verified the quantity you wish to burn, select ‘Approve Action’
Confirm
Select ‘Confirm Action’ and Sign the transaction via your ERC20 wallet. This transaction will incur a gas fee on the Ethereum network.
Transaction Pending
While your transaction is processing, you can track progress in the Etherscan block explorer.
Burn Confirmed
Once you receive the burn Confirmed notification your Ethereum transaction has been processed and was successful! And Ottó Blockchain will begin processing the PLUG token Transfer to your Ottó account.
Ottó Transaction History
Track the process On the Ottó Transaction history page, and watch as it goes from pending to success. Once successful your Ottó Blockchain PLUG Tokens will be visible in your Ottó dashboard as soon as the feed updates.
If you have any questions, please log a support ticket in Ottó Blockchain Discord.
Those who hold and Migrate PLUG tokens to Ottó Blockchain will be able to deposit PLUG and participate in the 28-day fair value Catalyst launch for PLUG holders. Please stay tuned for the announcement.
About Ottó Blockchain
Ottó Blockchain is the first KYC-compliant, Curated Smart Finance blockchain. Ottó Blockchain leverages NFT identity attestation, and Multichain functionality, vouching for you to service providers, custodians, and other market participants while allowing users to maintain privacy.
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