Hey Amazing Wealth Community,
We come to you today with a much-needed update that we’re now shifting to V2.
As we all know that Pancakeswap has launched V2 recently and directing its users to avoid V1 through disclaimers. Most of the users, volume, and liquidity have already shifted from V1 to V2. As our Liquidity is locked for 6 months on V1 and the users and liquidity is now shifting to V2, we can’t wait that long, So the best possible way of shifting to V2 at the earliest is by a token swap.
The current WLT token will be swapped to a new WLT token. This whole token swap process will be completed before the launch of WealthCap and the new WLT token will be integrated as a payment solution in WealthCap.
Token Swap Details
- We will be swapping tokens to 10000:1. Each user will receive 10000 new WLT tokens in exchange for 1 WLT (old). This is to simplify the payments in WealthCap.
- The liquidity in the old WLT-BNB pair will be removed (liquidity removal process explained in a later section) and moved to the new WLT-BNB pair at the same market price as the old WLT divided by 10000.
How to Swap old WLT to New WLT
There are following four steps involved in the token swap.
1) Transfer your WLT tokens to Swap Address ( 15th May — 25th May )
Send your WLT tokens to the following swap address
Users can send their tokens to be swapped until 25th May 2021. This 10 days period is chosen so that every holder has sufficient time to be aware and swap their tokens.
2) Liquidity Withdrawal from old WLT-BNB Pair in V1: (26th May)
The tokens collected in the swap address will be used to withdraw BNB from V1 pool by selling the tokens.
3) Liquidity addition to new WLT-BNB Pair in V2: (26th May)
The BNB withdrawn from the V1 pool will be used to add liquidity in the new WLT-BNB pair in V2.
4) Token Distribution: (26th May)
After the successful addition of liquidity to the new WLT-BNB pair in V2, the new WLT tokens will be airdropped to the participants at a ratio of 10000:1. The new tokens will be sent back to the same address from which tokens were sent to the swap address in step 1.
For example, if you sent 10 WLT tokens to the swap address, you will receive 100,000 new WLT tokens in the same address.
This new WLT token will be the Governance token of the Wealth ecosystem and will be used to make all the Payments/ Transactions on the Wealthcap Platform.
Note: Users just have to send their WLT tokens to Swap address on or before 25th May and they will recieve new WLT tokens on 26th May with a swap ratio of 10000:1.
As always, we thank you for your support and are grateful for the strength of our community. Please continue to give us your feedback so we can make our product even better.