An Improvement To The VIM Contract Migration Criteria!

Dear VIMworld Community,

As previously announced, VIMworld will be migrating our VIMs to a brand new smart system, enabling VEED feeding and implementing the new VIMenergy and Feasting Contract.

All VIMs will be able to be migrated to the new VIM system.

Depending on whether the VIM adhered to the previous snapshots, there will be an opportunity to instantly swap all old tokens to VEED from their wallet without starting over from F Tier.

An Improvement To The Instant Swap Criteria

In our prior announcements, we’ve mentioned that any VIMs who have withdrawn and downgraded their VIMs after the snapshot would have to start over in F Tier in the new system.

We’re happy to announce that we are improving this process!

Now, as long as the VIMs adhered to both snapshots, they will always have the instant swap function, even if they downgraded their Tiers.

For example, if a VIM was S Tier during the first and second snapshot, and it is downgraded to A Tier afterwards, then the instant swap feature during the migration would follow the A Tier ratio. You would not need to start over as a F Tier any more during the migration process!

What if a VIM did not adhere to the snapshots?

As with before, if a VIM did not adhere to both snapshots, then they will need to start over as a F Tier during the migration process.

For example, if a VIM was at A tier before the first snapshot, and upgraded to S Tier before or after the second snapshot, then this VIM will need to start over as a F Tier, and is ineligible for the instant swap.

When will the VIM contract migration happen?

Development work is proceeding smoothly. As the migration involves thousands of VIMs and a substantial amount of funds involved for our community, we want to make sure that every new smart contract and the migration system works perfectly.

Thank you to the VIMworld community and please stay tuned for further exciting announcements!