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SIX Token Migrates to Ethereum (ERC-20) — Empowering a New Chapter of Growth!
TLDR (Too Long; Didn’t Read):
SIX Token will migrate from Stellar to Ethereum and SIX bridge will be upgraded to facilitate transfers on 17th August at 1 PM (GMT+7). Following the migration, Users will have the option to withdraw SIX token in Ethereum or Stellar after the migration.
SIX bridge will be upgraded to facilitate transfers from Stellar to Ethereum; However, it is important to note that once users bridge their token from Stellar to another chain, they will not be able to bridge the token back to Stellar.
We are excited to share a significant milestone in the journey of SIX Token. Starting on August 17th at 1 PM (GMT+7), SIX Bridge will upgrade to compatible with Ethereum, allowing user to easy transfers from Stellar to Ethereum. This strategic decision aims to open new possibilities and make the most of Ethereum’s advanced ecosystem and capabilities.
Why Does Migrating to Ethereum Matter?
Migrating to the Ethereum blockchain is crucial because of the powerful capabilities of the Ethereum Virtual Machine (EVM). Being on the Ethereum chain allows for interactions with EVM-based smart contracts to the SIX token. This shift means that the scope of development can now extend to all the chains that are compatible with the EVM.
The Advantages of Running on Ethereum Chain for SIX Token
By migrating to the Ethereum blockchain, SIX token gains access to a world of innovation and decentralization. With Ethereum’s global network, SIX token is primed for growth and advancements. So, we’ll delve into the advantages of running SIX tokens on the Ethereum chain.
1. Vibrant Ecosystem:
Ethereum’s ecosystem is a hotspot for innovation in the blockchain space. Ethereum hosts many tokens, DeFi (Decentralized Finance), DAOs, NFTs, and many more projects. This ecosystem provides an environment for growth, building ground for SIX token and enabling to tap into the infrastructure, collaborations, and opportunities present within its ecosystem.
2. Access to Large Liquidity:
Liquidity is a crucial factor for the success of any token. Ethereum’s widespread adoption has led to a massive user base. So, SIX token will gain instant access to this vast pool of users and investors, enhancing its liquidity and volume. After the migration, you will be able to find the liquidity pool of SIX tokens on the platforms which are running on the Ethereum chain.
3. Large Developer Community:
In the blockchain industry, Ethereum has the most active developer communities. This community continually contributes to the development of the platform, creating innovative solutions, smart contracts, and applications. By migrating SIX token, we will gain access to developers and the advantage of knowledge, resources, and collaboration opportunities.
4. Solid Support by Top Exchanges:
Ethereum has established itself as the standard blockchain. So, Integrating SIX token into top exchanges becomes more streamlined due to support systems for Ethereum-based tokens. This integration not only ensures a smoother listing process but also provides credibility and visibility for SIX token.
5. Trust and Credibility to Global Enterprises and Institutions:
Ethereum’s reputation as a secure and widely-acknowledged blockchain platform lends added trust to the SIX token built on it. Within the Ethereum ecosystem, there are top-tier custodian services that major enterprises and institutions trust to safeguard their digital assets. Being ERC-20 based, the SIX token is compatible with these services, enhancing its appeal to institutions.
By having the SIX token operate on Ethereum, we can capitalize on this established trust, drawing greater attention and fostering partnership opportunities with global enterprises. This positions the SIX token as a reliable and business-friendly digital asset.
In summary, This migration brings more opportunities for growth and innovation. By migrating to Ethereum’s advanced programmability through the EVM, we can create diverse DApps and explore new use cases. Being part of Ethereum’s extensive ecosystem gives SIX Network better liquidity and exposure to a vibrant community of developers, more support with top exchanges and building trust with global enterprises and institutions.
What to Know About Migration
To make the migration smooth, we are upgrading the SIX bridge to allow easy transfers from Stellar to Ethereum. However, it’s essential to remember that once you bridge your tokens from Stellar to another chain, you won’t be able to bridge the token back to Stellar again.
The bridge will be accessible from the beginning of the migration and will be available for bridging without any time limits. You can take your time and proceed with the process at your own pace.
This migration is an exciting step towards expanding the reach and impact of SIX Token, offering innovative DeFi opportunities and a vibrant ecosystem within Ethereum’s decentralized space.
New Chapter of Growth is About to Begin
This migration is a new chapter of growth as SIX Network is opening doors to new possibilities. This step reflects the company’s dedication to innovation, decentralization, and collaboration, positioning it to play a key role in shaping the future of blockchain technology. SIX Network is looking forward to the upcoming growth and partnership prospects that await.
Also, We value the trust and support of our community, and we believe that this migration will set the stage for a new era of growth and collaboration. We invite all SIX Token holders to stay tuned for further updates and bridge your token to Ethereum.
Thank you for being part of this transformative journey with us. Together, we are shaping the future of blockchain technology.
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