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HomeCrypto NewsMarketBitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service

BitMart to Support Safemoon’s (SFM) Automatic Migration from V1 to V2 Providing Users a Swap Service


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Bitmart, the most trusted cryptocurrency trading platform, recently declared that it will support SafeMoon for tokenswap from V1 to V2. The exchange will offer users a swap service meaning that the migration from V1 to V2 will be done automatically so that users on the platform don’t have to manually transfer them.

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The exchange also notified its users via its official blog post that new tokens will be distributed according to the ratio afterward, based on the snapshot records. The conversion ratio of SafeMoon v1 (SAFEMOON) and SAFEMOON v2 (SFM) is set at 1000:1.

In addition, Bitmart also disclosed a plan to list Safemoon on its exchange for trading purposes. The plan is as follow:

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  • The deposit feature will be made available on 1/11/2022 at 11:00 AM (EST)
  • The trading feature will be made available on 1/11/2022 at 12:00 PM (EST)
  • The withdrawal feature will be made available on 1/12/2022 at 12:00 PM (EST)

“Safemoon 2.0”, the official Twitter handle of Safemoon recently posted the update for its followers and said that BitMart is in active conversation with Safemoon’s team and closely working to reach a solution for SAFEMOON holders.

Safemoon’s team also confirmed that the migration of SAFEMOON will be carried automatically by Bitmart, for all of its users. Therefore, users don’t have to worry.

Back on December 29, Safemoon has officially winded down the support for V1. On the same day, the V1 tax was changed to 100%, with the purpose to remove incentives to continue holding Safemoon V1.

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The decision was made as the team behind Safemoon (SFM) decided to shift its full focus to V2 to evolve the SAFEMOON ecosystem.

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Disclaimer: This content is informational and should not be considered financial advice. The views expressed in this article may include the author's personal opinions and do not reflect The Crypto Basic’s opinion. Readers are encouraged to do thorough research before making any investment decisions. The Crypto Basic is not responsible for any financial losses.



Zabi is crypto enthusiastic with more than 10 years of experience in managing Google News-approved Finance websites. Zabi has a strong background in finance with a thorough understanding of cryptos and a solid grip on the crypto and financial market industry. Along with his passion for crypto writing, Zabi manages his personal stock and finance-related Google News-approved websites.

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