(Article is from medium post)
We are excited to announce that, after a weeks-long hiatus due to high costs on the Ethereum network and then a token swap, Presearch PRE withdrawals have now been reactivated!
Thank you for bearing with us as we revamped our withdrawal process to make it more efficient and conducted our token swap. We know it was a major inconvenience for many of you, and we apologize that it took so long to complete.
The new token contract opens up a world of possibilities and the improved withdrawal process should ensure that we are able to maintain regular withdrawals even if processing fees shoot up again.
Now that the hard work is behind us (and a HUGE thank you to our development team for the long hours), we are ready to reopen withdrawals of PRE tokens — those purchased, staked and earned as rewards.
Due to the token swap and changes with the contract address, many deposit addresses for cryptocurrency exchanges and some wallet addresses may no longer be the same and might not work.
To protect users, all pending withdrawals have been returned to their Presearch account balance, and we are requiring all those with pending withdrawals to request them again.
This will prevent people from losing their PRE tokens if they accidentally withdrew their tokens to an address that is no longer compatible with the new token.
Anyone who has previously initiated a withdrawal that was not sent will need to initiate a new request and then authorize it via the confirmation email.
Please be extra careful to ensure that you are withdrawing your tokens to the correct address, especially if you are withdrawing them to an exchange. Exchanges have updated their deposit addresses and will no longer support those used previously.
To request your withdrawal again, please go here:
Additionally, please visit the status update page to ensure that the wallet you are choosing to withdraw to supports the new PRE token.
We plan to return to our previous 72-hour processing time on withdrawals, and will process withdrawals once per day to allow individual requests to be batched together and sent as a single transaction, significantly reducing processing fees.
If you have any questions about how to withdraw, please visit our Telegram chat group at https://t.me/presearch, and if you cannot resolve your issue there, please email [email protected] for assistance.
Thanks again for your patience over the past few weeks! We appreciate it and we are confident that the wait will be worth it for all project stakeholders.