The ELI-GOC migration report
On 25 November 2019, we started the migration of Eligma’s ELI token from the Ethereum to the Bitcoin Cash (SLP) blockchain. In this, the ELI token was renamed the GoCrypto token (GoC). The migration period lasted 189 days and ended on 31 May at 23:00 CET. Here is the most important migration data:
State before the migration (decimals are not displayed):
- Total supply of ELI tokens before the migration: 327,902,034 ELI
- Total circulating supply of ELI tokens before the migration: 203,327,910 ELI
Migration preparation:
- Total supply of GoC created: 327,902,034 GoC
- Total GoC supply reserved for the migration of the ELI tokens in circulation: 203,327,910 GoC
Migration execution:
GoC supply successfully swapped for the ELI tokens from the circulation supply during the migration: 174,521,634 GoC (85.83% of the total GoC supply reserved for the migration)
Remaining GoC supply that was not migrated for the ELI tokens from the circulating supply: 28,806,275 GoC (14.17% of the total GoC supply reserved for the migration)
State after migration:
- Total supply of GoC tokens after migration: 327,902,034 GoC
- Total number of GOC tokens in circulation: 216,922,075 GoC
The GoC token surplus will be destroyed with a one-time transaction to a specially created wallet that will prevent any further transactions with these tokens.
Burning non-migrated tokens:
- Total number of GoC tokens that will be burned: 28,806,275 GoC
- Total supply of GoC tokens after burning: 299,095,759 GoC
- Total circulation supply of GoC tokens after burning: 188,115,799 GoC
The aim of the migration was to enhance the experience of our token users with a faster and more robust blockchain. This is especially important due to the fact that our GoCrypto system, which enables payments with crypto at online and offline stores, has expanded into a worldwide payment scheme.
GoCrypto is available in 13 countries and counting, uniting more than 1400 merchants accepting crypto and over 10 million crypto wallet users. Among other things, the GoC token can be used for daily shopping of over 140,000 products.
We will also continue to expand GoC’s utility by integrating it into B2B processes, merchant settlements and other loyalty programs, which calls for top-notch technology. The Bitcoin Cash (SLP) blockchain has more than met our expectations.
If you would like to purchase GoC tokens, they are available through the Elly wallet as well as on the Bitcoin.com Exchange and tokens.net. Also, if you are an Elly wallet user, your every crypto payment at GoCrypto locations is rewarded with a GoC token back.
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