Announcement: Token Swap Migration Date Set — 8th March 2021
We are glad to announce that our Token Swap Migration will take place on Monday 8th March 2021.
Please read these very important changes and notifications regarding actions to be taken before Monday 8th March 2021.
Existing Liquidity on Uniswap
- All Uniswap Liquidity Providers should immediately remove their liquidity from the pool. We are confident that almost all of the liquidity will be removed from the pool which makes the operational issues regarding this token contract swap much easier.
- Token holders with liquid $PLT will not need to worry about any practical actions regarding $PLT, Poloniex, MXC and Hoo will be supporting the migration by crediting your accounts with the new $ADD Token. We recommend holding tokens on an address which you own the private key for in any circumstances.
- We absolutely recommend no further action in token movement or trading. There will be consequences within the token swap for any token holders trying to take advantage and double spend via an automated watch module attached to a new blacklisting feature (read below).
Existing $PLT Seed Holders
- Investors within the seed round must immediately cross the bridge in order to successfully migrate their balance to ADD.
- This will mean that they will occur a small bridge fee burn. We have decided that this is the only plausible option for migrating seed token balances into the new contract as it is not possible to mass query balances from our bonded (seed) contract. This will create a wider benefit to the community with an instant mass burn of a partial amount of the seed tokens. We are confident that this will be carried out successfully.
- Any tokens from the bonded contract that are not moved across the bridge will mean that those seed token holders will no longer be able to claim or have entitlement to any $ADD tokens, thus resulting in a deflationary burn in the new $ADD contract. ADD cannot be held responsible for any tokens burned or lost as a result of non-migration by users.
The community will start to see migration on the burn monitor occurring over the next few weeks, this is perfectly normal.
Reverse Token Split: 10:1
We are going to perform a token split for the benefit of the community, by issuing tokens at a ratio of 10:1, thus dividing our total remaining supply by 10. For example, for every 10 $PLT tokens, 1 $ADD token will be issued. Your new balance of ADD will be divided by 10 compared to your PLT balance.
The entire total supply including vesting allocations will also be subject to the reverse split. Token holders are not at any loss.
Seed Round Holders can cross the bridge on a dedicated platform: https://tge.add.xyz