If you’re not already aware, OrdiZK will be performing a 1:1 token migration on the 26th of February @ 11pm UTC. Be sure to read this entire article for information on why we’re migrating as well as what's required of you as a holder.
Please be extremely diligent during these times, only trust links from our official sources. If it seems too good to be true, it probably is. Ensure you’re double, even triple checking transactions before you send them. If you need to ask an OrdiZK team member, please do as you have plenty of time.
Why Migrate?
Firstly, we’re migrating to reduce buy & sell tax to 2% on both buys and sells. (1% redistributed to stakers, 1% for marketing, development & liquidity). In addition, we’re addressing a small vulnerability found in a recent audit and rectifying it. Also, the migration will provide us with further CEX listing options due to lower fees, which also makes it easier for an AMM (automated market maker), which is necessary for a centralized exchange listing.
What do you need to do?
Holders/stakers aren't required to do anything at this current moment. Once our V2 contract is live, you will be able exchange your V1 tokens via our dApp. Migration will close on the 4th March @ 11pm UTC. The migration dApp is currently live and will be enabled tomorrow @ 11pm UTC.
What if I'm staking?
We've taken all possible scenarios into account. Stakers will be able to withdraw and claim their rewards & V1 tokens like normal. Once staking pools close, we'll airdrop V2 tokens to the stakers of those pools. The snapshot has been taken.
What if I miss the deadline?
We'll be recovering the V1 liquidity using the migrated tokens in order to transfer it to the V2 pool. If you happen to miss the deadline, you'll be required to send your tokens to the deployer wallet before receiving your V2 airdrop.
What's Next?
Post migration, we'll release an updated roadmap. There's a lot of exciting things in the works, more than what's currently confirmed. We're commencing work with a marketing & PR agency pre and post migration to ensure $OZK's vision is seen and heard.
What will the launch price be?
The starting price of $OZK’s V2 contract will be relative to that of V1 at the time of migration. We can easily manage this by adding corresponding amounts of V2 $OZK tokens as well as ETH based on the dollar amount.
For example, if we wanted the price of $OZK to be $1 per token: we would initially pair $1000 worth of ETH and 1000 tokens. However, this is just an example and we'll be adding much more liquidity.
What measures are in place to prevent people from selling twice or migrating V1 once it’s “worthless?”
Migration will be closed exactly a week after opening, this will prevent people buying V1 and converting to V2 once the liquidity has been recovered and transferred over. In addition, your V1 tokens are burnt in the migration process via the dApp in order to receive your V2 tokens, so there can only ever be 1,000,000,000 total V2 supply, the exact same as the V1 contract.
Will V2’s contract be diluted with more tokens?
No, $OZK’s V2 contract will remain the exact same supply as V1. One billion tokens will be the total circulating supply once everyone has migrated over. In addition, all tokens will be in circulation, which will be reflect on Coingecko and CoinMarketCap once updates are reflected.
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