I woke up from a nap and a fren asked me what to do if $PAYAI hasn't migrated? I did some preliminary understanding:
1. Those who complete the migration before the 18th can burn their MFT voucher tokens to exchange for new PAYAI tokens.
2. According to the project team, there is a 90-day grace period for PAYAI tokens that have not been migrated after the deadline on the 18th, but a 5% penalty will be deducted during the migration process (after 90 days, it will automatically return to the treasury).
3. Tokens purchased on CEX will be automatically migrated by default, no action required. However, for tokens purchased on DEX, please note that only those with a "balance" snapshot taken before the 18th will count, and migration can be done through a grace period and penalties.
4. Currently, there is a 30-fold price difference in PAYAI between the old pool and the new pool. Holders of the old pool, who completely do not understand the rules, panic sell, ruining the opportunity to still escape through the grace period. Of course, don't think you can buy the cheap coins from the old pool to "arbitrage"; the project team has clearly stated that tokens purchased on the secondary market after the snapshot are disqualified.
5. As for the 30% that has not been migrated, how much will eventually be migrated in the form of penalties, and how much will become part of the project party's treasury, will only be known after 90 days (the project party's control ratio has obviously increased significantly). However, for those who panic and sell at low prices without understanding the rules, maybe it's time to switch industries.
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I woke up from a nap and a fren asked me what to do if $PAYAI hasn't migrated? I did some preliminary understanding:
1. Those who complete the migration before the 18th can burn their MFT voucher tokens to exchange for new PAYAI tokens.
2. According to the project team, there is a 90-day grace period for PAYAI tokens that have not been migrated after the deadline on the 18th, but a 5% penalty will be deducted during the migration process (after 90 days, it will automatically return to the treasury).
3. Tokens purchased on CEX will be automatically migrated by default, no action required. However, for tokens purchased on DEX, please note that only those with a "balance" snapshot taken before the 18th will count, and migration can be done through a grace period and penalties.
4. Currently, there is a 30-fold price difference in PAYAI between the old pool and the new pool. Holders of the old pool, who completely do not understand the rules, panic sell, ruining the opportunity to still escape through the grace period. Of course, don't think you can buy the cheap coins from the old pool to "arbitrage"; the project team has clearly stated that tokens purchased on the secondary market after the snapshot are disqualified.
5. As for the 30% that has not been migrated, how much will eventually be migrated in the form of penalties, and how much will become part of the project party's treasury, will only be known after 90 days (the project party's control ratio has obviously increased significantly). However, for those who panic and sell at low prices without understanding the rules, maybe it's time to switch industries.