- Chemix Labs successfully upgraded to Chemix Ecosystem
- Governance token symbol change and migration
- Voting on the symbol of new token
- The exchange and distribution plan of the new token
- New token replacement process and time
Dear members of the Chemix Ecosystem community:
Hello everyone, our Chemix Ecosystem has undergone important development and planning upgrades recently. To keep every member updated about our development progress in time, the development team hereby reports and explains the progress of the platform.
1. New Chemix Ecosystem Launched
Users of our platform may notice that Chemix Ecosystem is now composed of Chemix Launchpad, Chemix Labs and Chemix NFTs. In the future, the ecosystem will be updated to four parts, the core part Chemix Launchpad, as well as Chemix Labs, Chemix Dex and Chemix DID, forming a closed-loop DeFi service system that aims to build a market for illiquid equity or tokens of early-stage crypto companies.
Welcome to the new Chemix Ecosystem
2. Governance token KUN will be renamed to new name
Our project has gone from the early QIAN protocol to the upgraded Chemix Labs and then to the current Chemix Ecosystem. The DeFi platform Chemix Ecosystem has been improving by the inspirational collision of the team and community members. The continuous upgrade of functions and the expansion of our ecosystem give Chemix Eco a greater development potential.
To adapt to the rapid development of the platform, accelerate the internationalization process, and expand our influences, we need a new governance token symbol to represent our new ecosystem. With the sincere suggestions and vigorous promotion of enthusiastic community members such as David, Tanya, Doris, Secbro, … we carefully decided, taking the opportunity of platform rebranding, to rebrand the project token in a more general way. At the same time, we will expand the supply of project tokens proportionally and deploy the new token in a new smart contract. In Chemix Ecosystem, the new governance token will have core functions and practicality.
3. Voting on the symbol of new token
The symbol of the new token will be named in a more general way, representing the entire ecosystem, thus the full name must include "Chemix Ecosystem". We selected two representative candidates from the new symbol collected by the community and invite everyone to vote for the new token symbol. This new symbol will represent Chemix Ecosystem on a new journey in the crypto world.
CEC (Chemix Ecosystem Coin)
CEP (Chemix Ecosystem Pass)
Vote link (Twitter): CEC/CEP
4. New token exchange and distribution plan
The exchange rules for KUN migration to the new token are as follows:
- The total amount of new tokens is 120 million
- The exchange ratio between the released KUN and the new token: 1 KUN = 10 new tokens. From the date when KUN is locked into the contract, the new token has a 180 days linear release cycle.
- Unreleased KUN will also be upgraded to the new token at a ratio of 1:10, and the distribution ratio of each part will be the same as KUN. These tokens have not yet been minted and circulated, so they will be directly released and used in the form of new tokens according to the corresponding release rules. For example: the remaining unreleased liquid mining KUN tokens will be directly converted into new tokens, which will be minted and released gradually in the liquidity mining activities of the new tokens.
- The KBT circulating in the BSC network will be upgraded to CBT proportionally: 1 KBT=10 CBT, and will have the same release rules as the new governance token, 180 days linear release cycle.
5. New token replacement process and time:
Token exchange page -------> Connect MetaMask wallet-------> Binding KUN address -------> Website will show KUN amount and the new token amount for exchange -------> Authorize and submit -------> click ‘update’ button -------> Metamask wallet interaction-------> KUN be transferred to a specific migration contract for permanent lock -------> Click the ‘withdrawal’ button once/multiple times during the linear release period-------> Metamask wallet interaction -------> Withdraw the new token to the binding wallet address.
Time of token swap:
Upon confirmation of the new token symbol, we will start the upgrade process as soon as possible. KUN holders need to complete token upgrade steps on a specific webpage of Chemix Launchpad. And we will also update the news through various social media of our platform, please be sure to pay attention to announcements of our following social media.
Finally, thank you very much for your continued support to Chemix Ecosystem. We invite you to witness our future development together. The Chemix Ecosystem project team will work with community members to create excellent projects in the crypto world. Thank you for your support all the time. We will shoulder heavy responsibilities and continue to forge ahead.