Transitioning from BNBChain to BASE — What You Need to Know
We are thrilled to share some exciting news!
We are in the process of migrating our project from BNBSChain (BSC) to BASE. This strategic shift is crucial for the future of $IMO, and we are here to explain what this means for you.
Why Move to BASE?
BASE is a more advanced blockchain compared to BSC, enabling us to manage the $IMO project more efficiently. Here are the key benefits:
- Lower Transaction Fees: BASE offers reduced transaction costs, making interactions more economical.
- Enhanced Scalability: BASE is designed to handle a higher volume of transactions, ensuring smooth and uninterrupted operations as we grow.
- Improved Security: BASE provides robust security features, safeguarding your investments and our platform.
- Layer Zero Smart Contract: Our new Layer Zero smart contract offers compatibility with multiple blockchains, providing greater flexibility and integration capabilities.
These enhancements are all aimed at delivering a superior experience for IMO holders.
1. Automatic Token Distribution — 1:1 Airdrop
If you hold $IMO tokens on BSC, there’s no need to take any action. Your tokens will be automatically airdropped to your wallet on the BASE blockchain at a 1:1 ratio. This means you will receive the exact number of tokens you currently hold, seamlessly transitioning to BASE without any additional steps required from you.
2. New Liquidity Structure on Balancer
We are establishing a new liquidity pool on the Balancer platform with the following composition:
- 20% Ethereum (ETH)
- 80% $IMO
This structure ensures stable token exchanges and maintains balanced token value while significantly reducing impermanent loss. By optimizing the liquidity pool, we enhance the overall trading experience and support the long-term stability of $IMO.
3. Adjusting Liquidity to Match Market Capitalization
Currently, our liquidity pool size is disproportionately large relative to our market capitalization (the total value of all $IMO tokens). To align with our market cap, we are reducing the liquidity pool to $85,000 in ETH, which corresponds to an estimated market capitalization of approximately $1.5 million. This adjustment ensures a more accurate and sustainable liquidity provision.
4. Allocation of Remaining Funds
The funds released from reducing the liquidity pool will be strategically reinvested to support the growth and stability of the $IMO project:
- Marketing and Promotions: Investing in marketing campaigns and announcements on key platforms to increase project visibility.
- Reserve Fund: Maintaining a reserve for unforeseen expenses and future opportunities.
- Token Buybacks: Conducting buybacks to support and stabilize the value of $IMO.
- Growth Initiatives: Financing projects and initiatives aimed at enhancing the project’s visibility and accelerating its growth.
5. Add the New Contract to Your Wallet
To view your newly airdropped tokens in your wallet, you must add the new contract address. Please follow these steps:
1. Open Your Wallet: Access your wallet on the BASE blockchain.
2. Add Token: Select the option to add a new token.
3. Enter Contract Address: Input the following contract address:
0x5A7a2bf9fFae199f088B25837DcD7E115CF8E1bb
Adding the new contract will allow you to track and view your $IMO tokens as soon as they are transferred to BASE.
Important Notes
- Temporary Price Fluctuation: It is normal to see the price drop to zero temporarily on the chart during the migration. Rest assured, the value will remain consistent on BASE, our new blockchain.
- Updates on CoinMarketCap and CoinGecko are forthcoming to reflect the migration and ensure seamless tracking of $IMO’s value on major platforms.
This migration marks a significant milestone in the development of the $IMO project. We are confident that transitioning to BASE will enable us to build a stronger foundation for the future, providing enhanced performance, security, and scalability.
We sincerely thank you for your continued support and commitment. We are excited to embark on this new journey with you and look forward to achieving greater heights together!
Thank you for your trust!
