Announcement Regarding Updates on the First Phase of NetX Mainnet Migration
Dear Trias Community Members:
The NetX ecosystem is steadily evolving. We initiated the first phase of the TRIAS migration plan on April 29th and deeply appreciate your active participation and valuable feedback. Throughout this period, we have received numerous suggestions from our community and partners regarding the sustainable development of the project. In alignment with our principles of asset security, steady development, and agile responses, we are enhancing the mainnet migration phase. These enhancements include: token reclaim, migration agreements, and cross-chain functionality between the mainnet and source chains. These measures aim to ensure stable operations and liquidity for the TRIAS migration.
Reclaim of TRIAS Tokens to Their Original Chain
In response to community feedback about the extended migration period and the need for more flexibility, we will introduce a feature next week allowing users to reclaim the TRIAS tokens that they committed to migration, back to their original networks (BSC or ETH).
(This is not to be confused with the bi-directional bridge feature that will allow users to swap their TEP-20 tokens back to their original networks post-migration (more on this discussed below).)
We will also provide information about the distribution of TAS rewards for migration participants in a subsequent announcement. Rest assured that users who pledged their tokens to migration will retroactively receive TAS, as it is accumulated daily from initial deposit.
More detailed information will be announced later.
Migration Agreements
It is completely up to the user to decide whether they wish to migrate or not, before the first phase migration period ends.
Early migration users should be aware of the ongoing development of the NetX network, which may affect the liquidity of mainnet tokens depending on third-party exchanges’ policies.
Based on this information, users who choose not to reclaim their TRIAS tokens and voluntarily sign the migration agreement will receive mainnet migration services after the first phase migration is completed. We will officially deduct the migrated tokens and issue mainnet tokens to these users.
Cross-Chain Functionality Between Mainnet and Source Chains
To address potential liquidity concerns, we will launch a TRIAS cross-chain bridge after completing the first phase of migration (as mentioned previously). This bridge will enable bi-directional transfer of TRIAS tokens between the NetX mainnet and the source chains (BSC or ETH).
Adjustment of NetX Mainnet Token Claim Time
In our April 28th announcement, we initially planned to launch NetX mainnet token claims in May. However, after careful consideration and a thorough assessment of the recent updates, we have decided to delay the launch until the end of the first phase migration period, which is now targeted for June 30th. This will allow us to finalize the migration list and token quantities.
We acknowledge that this news may not be what you were hoping for, but we are confident that this is the most prudent course of action to ensure the long-term success and stability of the NetX ecosystem.
The primary reasons for this decision include:
- Mainnet Functionalities Still Under Development: Our priority is to provide a robust and secure mainnet experience. While significant progress has been made, some key functionalities related to asset security, user experience, and overall platform stability still require further refinement and optimization. We are committed to ensuring the mainnet meets the highest standards of quality and reliability before its official launch.
- TEP20 Token Liquidity: Currently, TEP20 token functionality on the mainnet is limited to sending and receiving tokens. Other functions will be tested on the testnet before being pushed to the mainnet. We are actively expanding its use cases to enable seamless interaction within the NetX ecosystem, which may affect asset liquidity and user experience.
- Listing of TEP20 Tokens: We recognize the importance of an active and liquid TEP20 token market and are collaborating with multiple exchanges to expedite the listing of TEP20 tokens, enhancing their overall usability within the NetX ecosystem.
Thank You for Your Support
We remain committed to building a robust, secure, and user-friendly NetX ecosystem. We are actively addressing the challenges mentioned above and believe that postponing the mainnet token launch will ultimately lead to a more refined and reliable platform, as well as a smoother user experience.
Thank you for your understanding and continued support. We will continue to provide regular updates on the progress of the NetX mainnet.
May 24, 2024
Trias Team
🔹Official website: https://www.trias.one
🔹Whitepaper: https://www.trias.one/whitepaper
🔹Twitter: https://twitter.com/triaslab
🔹Twitter: https://twitter.com/Trias_One
🔹Telegram: https://t.me/triaslab
🔗All official links: https://linktr.ee/triaslab
