$HNZO Token V2 Migration to Polygon Guide
The long awaited V2 migration to Polygon is upon us, Samurai.
Although initially stated on our website that we would look to relaunch the token at 50% sell out of our NFTs, we were able to find a happy medium to accelerate this process with the help of our community!
We opened up a poll in our official Discord server and Telegram group to gauge token holder’s willingness to send in their $HNZO holdings in order to give us the opportunity to drain as much liquidity as we can out of our current contract. The overall sentiment was extremely positive with over 76% of active holders in our community expressing their immediate desire to contribute to the migration process and future success of Hanzo.
Why are we migrating to a new contract?
Our current contract has served it’s original purpose of being a loveable dog coin to send to the moon. We have evolved immensely since May 2021, changing our project mission entirely becoming one of the first Play to Earn (P2E) and NFT MMORPGs on the Polygon blockchain.
Polygon is a highly supported Layer 2 scaling solution, allowing for fast, secure and low-fee transactions using $MATIC.
You can read more about the benefits of our contract change here.
We will note that we have since adjusted the tax and supply of the new contract to better suit the projects needs. We strongly believe having good liquidity is important in decreasing price volatility and attracting larger investors. For this reason we have added an auto-liquidity function in replacement of token redistribution.
Listing on major CEX’s is not possible with token redistribution. Thus, we have opted to remove it entirely to avoid future complications.
Updated Tokenomics:
3% Auto-Liquidity
3% Marketing
4% Game Development
A total of 10% tax will be active at launch. Tax will be lowered once our liquidity nears sustainable levels and when we reach new milestones.
Updated Supply Distribution:
35% will remain Burned in the new contract
10% will be used for Staking rewards
15% will be used for CEX listings, Marketing and Partnerships
32.4% will be airdropped to holders with their respective holdings
7.6% will be reserved for liquidity on multi-chains (Polygon and ETH)
Migration Process
We are excited announce our relaunch date for $HNZO will be on Wednesday, February 2nd, 2022 scheduled between the hours of 11am-3pm EST.
The process will go as follows:
- The community will be given the choice to send all their tokens, starting today Thursday, January 27th, to the following wallet address:
0x5706AC23b35293f61f580187E50df2583C4B504a - You will still be airdropped if you decide not to send in any tokens and instead hold. Simply note that choosing not to send in any tokens means less Ethereum will be drained from the current contract and we run the risk of launching with lower liquidity.
- To thank those who choose to send in their tokens to the wallet address, we will be airdropping an additional 2% of their holdings and a free Hanzo Founders Collection NFT on our new Polygon contract.
- On February 2nd at 11:00am EST, we will stop receiving tokens and take a snapshot of the Price, Token Supply, Holders and Liquidity Pool (LP).
- Shortly after, we will then begin to sell the tokens collected to drain liquidity out of the current contract. Do not panic when you see the price and chart tank. If you sell during liquidity draining, you will not be airdropped.
- We will create liquidity in the new contract on Polygon using the liquidity drained from the old contract and some funding from our NFT sale to compensate for what we cannot drain.
- Finally, we will airdrop all holders the corresponding amount of tokens held before draining (including the additional 2% for those who sent in their tokens) on our new Polygon contract.
- Trading opens and we have successfully relaunched the $HNZO token. Please take time to set up the Polygon network on your wallet to view your tokens. A small amount of $MATIC will be required to make any transactions.
To reiterate, if you plan to send in tokens for migration, please send your tokens to the address below:
0x5706AC23b35293f61f580187E50df2583C4B504a
Community members who choose to send in tokens will receive an additional 2% of their holdings and a free Hanzo Founders Collection NFT!
The wallet is completely safe to send tokens to. The Hanzo team will be the only ones who will have access to it and all tokens sent will strictly be used for the new contract’s liquidity pool.
The deadline for sending in tokens is February 2nd, 2022 at 11:00 am EST. If you feel wary about gas fees for sending in your tokens, try to find a time of day where gas is at it’s lowest.
If you are holding $HNZO on Whitebit or CoinTiger, do not worry. Both of our CEX have been notified about our relaunch and will stop trading on February 2nd to do a 1:1 airdrop to all holders on the new Polygon contract.
We aim for this transition to be seamless and stress free. The developer who will be assisting us with the migration is highly regarded and experienced in token migration with having successfully used the same process detailed above to help other projects relaunch.
With your help, Hanzo will be another success.
— The Hanzo Team
If you have questions or concerns about our migration, please join either our official Discord server or Telegram group to talk to an administrator.
Discord: https://discord.com/invite/HzgXJyNzkd
Discord users have the extra benefit of getting frequent updates, viewing NFT/Game sneak peaks, participating in exclusive giveaways and more!
Telegram: https://t.me/hanzoInu
