TeraBlock Token Contract Update Announcement
Moving steadily towards our sustained vision of creating a scalable trading ecosystem, we feel proud to announce that we are consistently meeting all the critical mileposts on our development roadmap.
In line with our aim to provide sustained value to our users, we have deployed upgraded smart contracts on the Ethereum Chain (ETH) and Binance Smart Chain (BSC) networks.
I) Here are the updated contract addresses:
*Same address for both the chains
II) Moving to BSC
In light of the problems arising on the Ethereum network, we have decided to completely move all trading operations to the Binance Smart Chain. Pumping greater liquidity into our BSC contract will allow us to provide sustained value to our users.
Addressing the Scalability, Stability, and Speed” Trilemma:
With the deployment of an upgraded smart contract on BSC, we will be checking a significant milestone in our effort to address the prolonged “scalability, stability, and speed” trilemma on the Ethereum network. Our switch to BSC will create an impetus for secure, fast, and more viable TBC transactions.
III) Liquidity Removal from Our Old Contracts:
Our old contracts will be active until September 27, 2021, after which, we will proceed by completely removing all liquidity from both chains on September 27 at 12 PM UTC.
A snapshot of the token holders will be taken.
New tokens will be securely airdropped into the wallets of all the token holders on the two chains on September 27 at 6 PM UTC.
The token holders on the ETH and BSC network will receive their new TBC tokens immediately after the up-gradation of the contracts.
The users will be required to add the new contract address to their wallets after which the updated TBC tokens will start reflecting in their wallets.
IV) Adding Liquidity to New Contracts
Liquidity will be added to our BSC contract on Pancakeswap on September 27 at 10 PM UTC.
V) Commencement of Trading on New Contracts
BSC token holders can start trading immediately after the addition of liquidity into the TBC contract on BSC.
The token holders on the ETH network will have to bridge their tokens to BSC before they can start trading.
The TeraBlock Bridge is scheduled to launch after the smooth transition of the new contracts.
As a supportive measure, TBC token holders on Ethereum will receive an extra $20 worth of TBC tokens to cover the gas fees for bridging their TBC tokens from the Ethereum chain to the Binance Smart Chain.
At TeraBlock, we are consistently strengthening our efforts to provide a simplified trading experience to our users. We strongly believe that the migration to BSC will align us closer to our goal of creating a swift and accessible trading platform while paving the foundation for future collaborations with other leading projects in the space.
Whether you have a question about our products or features, you can click on the link below to get in touch with our team on our telegram handle. Telegram Community Chat.