How are token swaps supported?
Token swaps are usually supported through a process of registration and auditing, or are facilitated through a cryptocurrency exchange.
In the first case, token holders are typically invited to register their token through a blockchain project’s developers, who then accredit such tokens through a supported wallet. Following a token swap date, initial tokens are typically burned, while official assets then replace them and are stored in the self-same wallet.
In the case of the latter, token holders are invited to store their funds on a cryptocurrency exchange. Over the period of a token swap, exchanges will cease offering trading options for that unit and will audit, accredit, and exchange deprecated assets for newer ones
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