Token Migration

How do I migrate my WMT to WMTx?

You can migrate your old WMT to the new WMTx here: (Link available 30.09.2024 11:00 UTC)

Please note this is the only place where you can perform the migration.

Check out our guide on how to migrate your old WMT to WMTx here.

What is the token migration?

The token migration involves transitioning from the current token (WMT) to a newer version of the token (WMTx). The process is part of the broader strategy to broaden our reach while enhancing the resilience and interoperability of our network.

Is it a token upgrade or migration?

When moving your WMT to WMTx within the Cardano blockchain, this process is referred to as an upgrade. However, if you’re transferring your WMT to WMTx from Cardano to any other blockchain, it’s called a migration. Both terms are correct and used appropriately in these contexts.

How long do I have to migrate my WMT?

The migration portal will open on 30.09.2024 at 11.00 UTC and close on 21.10.2024 at 11.00 UTC.

Do I need to upgrade my WMT to WMTx?

Yes, you need to migrate your WMT to WMTx if you wish to participate in staking and to ensure your tokens remain valid and functional within the ecosystem. The migration is crucial for accessing future rewards and functionalities.

What is blockchain interoperability?

Interoperability refers to the ability of blockchains to interact with other blockchains. For example, normally, decentralised apps on blockchain A cannot be used on blockchain B. However, if the first blockchain A is interoperable with blockchain B, those decentralised apps can work on both chains.

Why is it useful for a blockchain to be interoperable?

Resilience – projects that build across many blockchains are more resilient than those that do not if a particular blockchain suffers an outage.

Access – projects can access the liquidity, communities and tools of several ecosystem, strengthening their userbase and tech.

Features - some blockchains have better features than others and so projects are not limited to the set of features on a particular blockchain.

Are we not already multichain?

We have bridges but, for the vision of AyA, we need a better ecosystem for the tech stack to sit on.

Will I lose staking rewards if I migrate before the last snapshot in October?

If you are staking WMT in the vault then you will lose out on the rewards, for the last staking period, if you migrate your tokens before the last snapshot, which will be taken on the 9th of October 11:00 UTC. In order to not lose out on staking rewards you can migrate your tokens after the snapshot. The portal is open until the 21.10.2024.