WELT Token Bridge Plan: Important Steps and What You Need to Know

We’re excited to announce the upcoming NEW bridge for WELT tokens on the Binance Smart Chain (BSC). This is a significant step forward for our ecosystem, and we want to ensure all token holders are well-prepared for the transition. Please carefully read the following plan to understand the process.

Note: If you have your WELT tokens on the Polygon chain or on a exchange you don’t have todo anything. Your WELT tokens are fine there. When the new bridge is done you are free to bridge to the BSC chain later if you like.

Timeline Overview

• Exact Date: To be announced soon.
• Snapshot, Liquidity Move, and Airdrop: All within a 2-day period once the date is announced.

Step-by-Step Plan (ONLY BSC WELT HOLDERS)

1. Snapshot of BSC Wallet Holders

• What’s Happening: We will take a snapshot of all WELT token holders on the BSC network.
• Why It’s Important: This snapshot will determine who will receive the new WELT tokens. Make sure your tokens are in your wallet (not staked) by this time.
• Action Required: Unstake your WELT tokens from our DeFi portal before the snapshot date. Only unstaked tokens will be counted in the snapshot.

2. Liquidity Pool Transition

• What’s Happening: The team will remove liquidity from the current liquidity pool (LP) and transfer it to a new pool under the new token contract.
• Why It’s Important: This ensures a smooth transition to the new token contract without disrupting the market.
• Action Required: No action required from token holders during this phase.

3. 1-to-1 Airdrop of New WELT Tokens

• What’s Happening: All wallet holders identified in the snapshot will receive an airdrop of the new WELT tokens on a 1-to-1 basis.
• Why It’s Important: This guarantees that you will receive the same amount of WELT tokens under the new contract as you held under the old contract.
• Action Required: Simply hold your tokens in your wallet during the snapshot. The airdrop will be automatic.

4. Supply Reduction: No New Tokens Minted

• What’s Happening: No new tokens will be minted during this process. The old bridged WELT tokens on the BSC network will be considered burned.
• Why It’s Important: This will decrease the maximum supply of WELT by 120 million tokens, potentially increasing the value of the remaining tokens.
• Action Required: None, but be aware that this supply reduction is a significant event for the WELT ecosystem.

What You Need to Do Now

1. Stay Informed: Watch for our announcement of the exact date for the snapshot, liquidity move, and airdrop.
2. Unstake Your Tokens: Ensure you unstake your WELT tokens before the snapshot date to be eligible for the new tokens.
3. Hold Your Tokens: Keep your WELT tokens in your wallet (not in any staking or liquidity pools) to be included in the snapshot and subsequent airdrop.

Key Takeaways

• Snapshot Date: To be announced. Unstake before this date.
• Liquidity Move & Airdrop: All happening within 2 days of the snapshot.
• 1-to-1 Airdrop: You will receive the exact same number of new WELT tokens.
• Supply Reduction: The old tokens will be burned, reducing the max supply by approx: 112 million.

We will provide more updates as we get closer to the snapshot date. Thank you for your continued support as we take this next step in evolving the WELT ecosystem!

Stay tuned for more announcements.