MIGRATE TO VOLT EVEN MORE
As most of you already know, we will be migrating our token to a new smart contract very soon. After launching VOLT with a trendy supply in December, it turns out that a migration is an unavoidable process if we want to keep growing and especially reach the top we all aim for!
Fearing evolution and change is usually what gets you down. That’s why we are more than ever ready to face this challenge especially knowing all the benefits it will bring to VOLT for the months and years to come!
One of the main changes that this migration will generate is a supply decrease (the current supply will be divided by 1 billion) which will lead to a price increase of the VOLT token (price will be multiplied by 1 billion). This will allow us to reach one of the main objectives of this migration which is to remove 9 zeros/decimals of our current price.
However, we would like to point out that the market cap and the USD value of your investment will both remain unchanged after the migration.
TECHNICAL ASPECTS OF THE MIGRATION
To start, for the sake of utmost security, we will carry out this migration with a partner who has already successfully completed multiple migrations! The process is still being finalized with this partner and we will announce his name in the coming week.
Regarding the migration date, the goal is to start the migration in the beginning of the first week of April 2022. The current plan is to run the main migration for 1 week during which you will simply have to approve a transaction that will send your VOLT V1 tokens to the migration address and automatically send back VOLT V2 tokens to your wallet.
For those who miss this main migration, it will still be possible to migrate your VOLT V1 tokens at any time in the future. However, all the people migrating after the main one-week period is over will no longer receive their VOLT V2 tokens instantly but will have to wait a period of up to 1 month in order to receive their VOLT V2 tokens as all these subsequent migrations will have to be manually checked and approved. This verification process aims at preventing any malicious attempt at manipulating prices which are the reasons why migrations sometimes fail… Indeed, at the end of the main migration week, an announcement will be made mentioning that any VOLT V1 buy made after that time will not be honored and will not be converted into VOLT V2.
Unlike most of the existing migrations, ours will not result in any trading interruption of several days or even weeks on uniswap and pancakeswap! In fact, the only time trading will be interrupted is at the end of the main one-week migration period. At that moment, for 1–2 hours, trading will be paused while liquidity is added to the new liquidity pools.
For those holding VOLT on CEXs, as already announced, the migration will be done automatically as we will contact all the CEXs on which we are currently listed to migrate your tokens.
Another technical point on which our community has already questioned us several times is whether the transfer tax will be applied during this migration. The answer to this question is no! The migration process will be built in such a way that the transfer tax will not be applied when you send your VOLT V1 tokens nor when you receive your VOLT V2 tokens.
NEW FEATURES AND MAJOR BENEFITS OF THE MIGRATION
CEX listings: centralized exchanges are the main reason and benefit of this migration. The fact that our current price has 19 decimals is causing a lot of troubles for many CEXs who are willing to list us but cannot go ahead due to technical issues. Therefore, by removing 9 zeros/decimals of our price, it will put us in a perfect position to be listed (from a technical point of view) on all the existing CEXs. As you can imagine, we would not proceed with such a migration if we just wanted to be listed on one more CEX!
Regarding the announced listing (MEXC) as well as all the others we are currently working on, they are temporarily put on hold until the end of the migration (which should take place in the week of April 11, 2022). However, as soon as this migration is complete, future CEX listings will not take time to come 😉 !
Tax conversion: our current eth contract converts liquidity, treasury, marketing and development taxes once it holds 690 quintillion VOLT. The conversion of these taxes generates a significant price impact which, although every time attracting new holders, sometimes scares a bit the people who are not aware of or have not researched the mechanism of our smart contract. Therefore, in order to avoid these concerns and short term scares, we will divide the limit at which taxes are converted by 100. This way, our future eth contract will convert taxes much more frequently and in smaller amounts (this will be exactly the same as the tax conversion done by our current bsc contract).
Burns: currently our ETH smart contract bears a total tax of 13% on all transfers of which 4% are added to the liquidity pool while in our bsc smart contract these 4% are directly burned forming one of the mechanisms making our token deflationary. After analyzing our current liquidity pool and with the aim of making VOLT more and more deflationary, we came to the conclusion that it was definitely possible to lower the liquidity tax of our eth smart contract to 2% and thus allocate the remaining 2% to a burn tax. This small change will however have a great impact for all our holders as it will make VOLT significantly more deflationary especially as most of the DEX trading volume is realized on the ETH chain.
DAO (Decentralized Autonomous Organization): as always mentioned, one of VOLT’s long-term goals is to be governed by a community-managed DAO. We knew for a long time that when the move to a DAO would be considered, a migration of our token would be required since the current smart contract does not allow to allocate treasury, marketing and development taxes to a new address. Therefore, the migration we are going to do in the next few days already allows us to pave the way for this long term goal! The new smart contract will allow to direct all the previously mentioned taxes to the wallets that will be governed by the community DAO when all the objectives of the current roadmap are reached.
It goes without saying that we will provide you with all the detailed instructions related to this migration in the coming days! In this article we first wanted to explain in a detailed way how this migration will work and outline the massive benefits it will bring!
This migration was a long reflection process, but we truly think that proactively addressing challenges is a must to reach the top!
KEEP VOLTING ⚡⚡⚡