Recall that recently the world fastest growing cryptocurrency token, safemoon release updates on migrating from version 1, V1 to Version 2, V2.
Due to the mechanisms Safemoon operates, Crypto enthusiast has keep asking questions what will happen while migrating from version 1, V1 to Version 2, V2?
Some of the questions, are;
will there be any charges for migrating?
Are they going to charge 10% to migrates to V2?.
What will happen for those who didn’t migrates to V2?.
In other to clear all these question running through the minds of crypto enthusiast, safemoon teams release answers to some of these questions.
Some of the answers read below
Is there a cost to migrate to V2❓️
➡️Yes, a small BNB fee of around $4-5 (may be higher or lower) will be charged by the Binance Smart Chain blockchain. This fee is not charged by SafeMoon. This is a standard network fee charged for all transactions. The SafeMoon team has no control over this fee.
What will happen if I don’t migrate to V2❓️
➡️SafeMoon holders will have plenty of time to migrate to V2. There will, however, be a deadline when V1 support will end. There is no date currently set, but we will communicate this as soon as we can.
Can I migrate to V2 if I have pSafeMoon❓️
➡️No. We won’t be supporting migration from pSafeM0on to SafeMoon V2 on the initial launch due to the fact that pSafeMoon does not incur a 10% fee to purchase, and it exists on the Ethereum chain. This option may be available later.
Will I have to pay the 10% fee to migrate to V2❓️
➡️There is no charge to migrate. As your tokens are swapped, the SafeMoon V2 Contract will issue you 10% more V2 tokens in order to make up for the
10% SafeMoon fee that was originally accrued from every V1 Buy/Sell order.
Where can l go to Swap V1 for V2❓️
➡️The two official sources are the SafeMoon Wallet apps and Web Swap, which will have an option to consolidate your V1 SafeMoon into V2 SafeMoon safely with the pre-populated contract addresses. The app can be found by searching “SafeMoon” on the Android or iOS App Store. The official SafeMoon website is swap.safemoon.net.
My tokens are in a hardware wallet. How can I migrate them to V2❓️
➡️If you hold SafeMoon on a hard wallet, we recommend that you import your wallet into the SafeMoon Wallet app to perform the migration.This is one of the reasons why we have implemented the new ‘import private key’ feature in the SafeMoon app. It enables users to import a wallet with only their private key.
Will the liquidity pool (LP) be moved immediately❓️
➡️The full LP won’t be moved to V2 immediately, but the majority will be. Eventually, all LP will be migrated from V1, but it will be done in phases. V2 will enable more comprehensive liquidity pool management and efficient migration/integration to other blockchains, including the SafeMoon blockchain.
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