The VOLT V1 to V2 migration may be over, but not all the tokens made it to the new contract. In fact, the automatic migration process that ended in mid-April may have left some holders behind. If you are one of them, you can still catch up. Read on to discover how to reclaim your VOLT V2 tokens!
Why Tokens Migrate?
Before we dive further into the VOLT migration, let’s look at what makes tokens migrate to new smart contracts.
Most crypto exchanges favor pricing precision when establishing the order in which they solve new trades. This leaves space for traders to sneak in front of others only by a small fraction. For example, in a BTC-USD trade, a user’s order to trade for $40,000.25 can easily swoop in and finalize sooner than an order for $40,000.24 or lower. This frustrates many traders who cannot fill their orders or wait a long time.
Generally, a token with too many decimals is always at risk of being part of delayed and unfilled orders. Before the migration, VOLT had a total supply of 69,000,000,000,000,000,000,000 tokens. This amount was available across Ethereum and Binance Smart Chain (BSC). However, at 19 decimals, VOLT had obvious listing difficulties on various centralized exchanges.
The migration to VOLT V2 divided the total supply of tokens by 1 billion. This way, it helps VOLT trades be more efficient and have fewer issues on crypto exchange listings. The process was automatic and saw VOLT V1 tokens travel to the migration address before returning to the holders’ wallets as VOLT V2 tokens. Moreover, this entire transaction was tax-free.
How to Claim Your VOLT V2 Tokens
If you missed the automatic migration process, you could still exchange your VOLT V1 tokens for VOLT V2. However, you will have to wait 30 days after submitting your request. Here’s what you have to do:
- Go to the VOLT V1 to V2 manual migration link.
- Transfer all your Volt V1 tokens to the listed wallet. The address is valid for ETH and BSC tokens.
- Fill and submit the form on that page.
Remember that any VOLT V1 purchase after April 16, 2022, at 11:23 AM will not be part of the migration to VOLT V2 tokens.
All VOLT V1 token holders have several incentives for applying for the manual migration. Firstly, they get all the benefits of owning a token on a new and improved smart contract. This process also serves the token’s hyper-deflationary purpose, which could provide holders with DAO governance powers in the future.
Source: https://crypto.news/did-you-volt-inu-migration-volt-v2-tokens/