In today’s article we’ll be talking about how to migrate Safemoon V1 to V2.
Safemoon is a popular meme token and it works on BEP-20 Binance smart chain. It is a latest or updated version of Safemoon which is launched with the aim of improving contracts in terms of transaction, security and accessibility. The main reason for launching it, Safemoon wants to remove itself from the meme coins category. So, it’s introducing a 1000:1 consolidation formula to reduce the circulating supply of safemoon tokens. Means, your 1000 safemoon tokens will now be converted as 1 safemoon.
By reducing the circulating supply, it will attract new investors and will also increase price value of tokens.
How to migrate Safemoon V1 to V2
You can migrate Safemoon V1 to V2 by 3 options: Safemoon wallet, Trust wallet and Exchanges.
How to migrate Safemoon V1 to V2 on Safemoon wallet
Step 1. Update your Safemoon wallet to the latest version from play store or app store
Step 2. Login to your wallet and click on the swap option in the middle of the bottom. Here you should see “upgrade to the safemoon V2”, click on it. Scroll down, and click on “Consolidate now”.
Step 3. And then, a pop-up will appear. After reading, click on “I have read and I understand” and Swap.
Step 4. Click on “Smart Chain” and then change for safemoon. Then, select the amount you want to migrate and swap.
Step 5. Your safemoon token will be migrated to V2
How to migrate Safemoon V1 to V2 on Trust wallet
Step 1. Go to the web – swap.safemoon.net, click on “connect to a wallet” to link to your trust wallet
Step 2. To link, Change network to smart chain.
Step 3. Now, Swap safemoon to SFM
Step 4. Start migrating by tapping on “Migrate”
Step 5. Click on “Confirm”
Step 6. Copy the contract of Safemoon V2
Step 7. Tap on filter on your trust wallet app.
Step 8. Now, add custom token
Step 9. Paste the copied Safemoon V2 contract and save it
Step 10. Check the balance of Safemoon V2
How to migrate Safemoon V1 to V2 on Exchanges
There is no need to do anything. Exchanges will handle this process of migration. It will update you after completion of the migration process.
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Disclaimer: The information provided in this article is for education purposes only and doesn’t constitute investment advice. So, if you want to invest or trade in any Cryptocurrency, invest at your own risk. CoinGyani will not accept liability on loss or damage, which may arise directly or indirectly using such information.