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World MobileTokenBlog
  • Welcome
  • Introduction
    • World Mobile Token
      • What is World Mobile Token?
      • How are WMTx and World Mobile linked?
      • Why connect the unconnected?
      • How do you sustain and deploy the sharing network?
      • What are our competitors doing?
      • How are WMTx rewards split?
      • How will WMTx be used for utility?
      • Why the need for a blockchain?
      • Why focus on a sustainable approach?
      • Self-data governance
      • Still not convinced? 🤔
  • FAQ & Support
    • Token Migration
      • Token Migration Guide
      • Self-troubleshooting token upgrade issues
      • What will happen to my WMT on CEXs and DEXs?
      • What is a token bridge?
      • What happens to my locked tokens or crypto loans during migration
      • General information on the Token Migration
      • Will WMTx be compatible with Ledger and Trezor?
    • Vault Support
      • What is the Vault?
      • Lost access to your Vault?
      • Unlock vault on a new device
      • Seed words don't work
      • How to locate your Vault .JSON File
      • Supported wallets
      • How to link your wallet to the Vault
      • How can I claim my unclaimed rewards from my old Vault?
    • Staking WMTx
    • How can I earn rewards and stake my ENNFTs?
    • How to Keep your Crypto Safe
    • Create a Support Ticket
  • Network
    • About the Network
      • Aya Testnet
      • Network equipment
      • Connecting remote locations
      • Customer support
    • What is an AirNode?
      • AirNode Sales and Ownership
      • World Mobile's Strategy and Expansion
      • Program and Technical Details
      • Batch Two, Drop One
    • What is an EarthNode?
      • What is an ENNFT?
      • How can I earn rewards with my ENNFTs?
      • How can I stake ENNFTs?
      • What happens if I forfeit my ENNFT?
      • Where can I see my ENNFT?
  • Token FAQ
    • Tokenomics
      • Token metrics and distribution
      • Token issuance governance
      • Token lockup periods for team and partners
    • TGE Archive
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  1. FAQ & Support
  2. Token Migration

General information on the Token Migration

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.

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Last updated 1 month ago

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