Decentralization Gets a Makeover
In a bold move that sent ripples through the community, Project Hydro has decided to take a dive into the decentralized ecosystem—this time with fewer tokens. Following a community vote, the total supply of Hydro tokens has been capped at a solid 111 million. They’re even redeploying their smart contract to reflect this change, which means contacting exchanges to keep everything in sync. Because, let’s be honest, nothing says ‘organized’ like a smart contract redo!
Multi-Chain Madness
But wait, there’s more! Project Hydro isn’t just reducing its tokens; it’s also going multi-chain, and it’s not starting small. First stop? Binance Smart Chain (BSC). Following closely behind are the likes of Polkadot parachains like Moonbeam and Plasm, as well as the crypto hotshots Algorand and Cardano. The team stated, “There is nothing like ‘one chain to rule them all,’ but rather a beautiful harmony of many blockchains.” Talk about an expensive family reunion!
A Beautiful Swap
With the Ethereum network’s gas fees reaching heights that could make a millionaire cringe, Project Hydro is waving goodbye to its old ERC-20 tokens in favor of shiny new BEP-20 tokens. Why? Because BSC is fully compatible with Ethereum, offering a chance to maintain their DApps and ecosystem without burning a hole in anyone’s pocket.
Token Swap: It’s a Phased Affair
The much-anticipated token swap process kicked off on February 28, and is rolling out in phases—because who likes a rushed wedding, right? In phase one, people holding Hydro tokens in personal wallets started receiving their brand-new BEP-20 tokens in their Binance Smart Chain wallets. CoinEx joined the party on March 1, and soon after, other exchanges will chip in too. The swap ratio is set at a nifty 100:1, so if you owned 100,000 Hydro tokens, you’ll get 1,000 shiny new ones. Nice math!
Accessing Your Tokens: A Piece of Cake
For those wondering how to get their hands on these new tokens, Project Hydro has it covered. They’re taking a snapshot of all personal wallet holders, and the only thing you need to do is import your ETH private key over to the BSC wallet, and voilà! CoinEx users can sit back and relax while their exchange takes care of everything. But if you’re on Bittrex, brace yourself for a bit of a wait as deposits, withdrawals, and trading are currently on pause.
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