What will happen if I don’t migrate my WMT?

If you don’t migrate, your WMT may become unusable in the new ecosystem. We recommend migrating to WMTx to retain functionality.

Will WMTx and WMT exist simultaneously?

No, WMT will be phased out once WMTx becomes the standard token.

Will I need access to a specific device or software to complete the migration?

You’ll need a browser-based wallet extension, such as the Eternl wallet, to complete the migration process.

Why should I switch my WMT tokens to another chain?

Switching allows you to take advantage of interoperability, liquidity, and features available on multiple blockchains.

Is the total supply of WMTx the same as WMT?

Yes, the total supply of WMTx will be the same as WMT. However, if some WMT tokens remain unmigrated, the active supply might be lower initially.

Will WMTx maintain a 1:1 value with WMT?

Initially, WMTx will have a 1:1 conversion rate with WMT, but market conditions will determine the value afterward.

Will the token migration trigger a taxable event?

Token swaps might be considered taxable events in some jurisdictions. Consult a tax advisor for guidance.

Is the token swap safe?

The migration process is secure, but always ensure you’re using the official upgrade portal to avoid scams.

How will WMTx keep the same value across all chains?

Cryptocurrencies maintain the same value across multiple blockchains using mechanisms such as bridges and arbitrage bots. Bridges allow users to transfer assets between blockchains, while arbitrage bots help to eliminate price differences by trading when there are discrepancies in token values across chains. Together, these mechanisms ensure that the token's value remains consistent across different blockchains.