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BitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service

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BitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service

Bitmart, the most trusted cryptocurrency trading platform, recently declared that it will support SafeMoon for tokenswap from V1 to V2. The exchange will offer users a swap service meaning that the migration from V1 to V2 will be done automatically so that users on the platform don’t have to manually transfer them.

👏 #BitMart is thrilled to announce supporting #SAFEMOONV2 migration. We will list @safemoon v2 (SFM) within 12 hours.

✅ Deposit opens at 11:00 AM on 1/11 EST
✅ $SFM/USDT pair will be available at 12:00 PM on 1/11 EST

👉 Details: https://t.co/HneSrKZaV3 pic.twitter.com/0B7kusY8WU

— BitMart.Exchange (@BitMartExchange) January 11, 2022

The exchange also notified its users via its official blog post that new tokens will be distributed according to the ratio afterward, based on the snapshot records. The conversion ratio of SafeMoon v1 (SAFEMOON) and SAFEMOON v2 (SFM) is set at 1000:1.

In addition, Bitmart also disclosed a plan to list Safemoon on its exchange for trading purposes. The plan is as follow:

  • The deposit feature will be made available on 1/11/2022 at 11:00 AM (EST)
  • The trading feature will be made available on 1/11/2022 at 12:00 PM (EST)
  • The withdrawal feature will be made available on 1/12/2022 at 12:00 PM (EST)

“Safemoon 2.0”, the official Twitter handle of Safemoon recently posted the update for its followers and said that BitMart is in active conversation with Safemoon’s team and closely working to reach a solution for SAFEMOON holders.

Safemoon’s team also confirmed that the migration of SAFEMOON will be carried automatically by Bitmart, for all of its users. Therefore, users don’t have to worry.

#BitMart has been actively communicating and closely working with us to reach a solution for #SAFEMOON holders

BitMart will support the SAFEMOON migration automatically for all BitMart users https://t.co/uvwZ2uNBhu

— SafeMoon 2.0 🚀 (@safemoon) January 11, 2022

Back on December 29, Safemoon has officially winded down the support for V1. On the same day, the V1 tax was changed to 100%, with the purpose to remove incentives to continue holding Safemoon V1.

The decision was made as the team behind Safemoon (SFM) decided to shift its full focus to V2 to evolve the SAFEMOON ecosystem.


Source: ethereum.today

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