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Gate.io Will Support the Bao Finance (BAO)v1 to Bao Finance (BAO)v2 Token Migration
Gate.io Will Support the Bao Finance (BAO)v1 to Bao Finance (BAO)v2 Token Migration
2022-11-18 05:48:38 UTC
33893 Read
According to the Bao Finance (BAO) team, Bao Finance (BAO) will be migrated from v1 to v2. Gate.io will support this migration and swap tokens for users. If your BAO tokens are currently on Gate.io, you don’t need to do anything in particular.
Swap ratio: BAOv1:BAOv2 = 1,000:1
That means, users will receive one BAOv2 token for every 1,000 BAOv1 tokens.
Below are more details:
1) Gate.io has closed the deposit and withdrawal services of BAOv1.
2) Starting On November 24, 2022, 04:00 AM UTC, Gate.io will take BAOv1 trading offline, including spot trading, grid trading, leveraged trading, and Lend & Earn.
3) Users who have BAOv1 grid trading should adjust their trading strategies beforehand. Otherwise, they will be terminated automatically before November 24, 2022, 04:00 AM UTC.
4) Users who have assets in Lend & Earn may manually redeem their assets in advance. Otherwise they will be liquidated before November 24, 2022, 04:00 AM UTC.
5) Users who have outstanding BAOv1 loans in the leveraged trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before November 24, 2022, 04:00 AM UTC.
6) For the migration, Gate.io will take a snapshot of users' BAOv1 holdings. After the snapshot, we will convert BAOv1 to BAOv2 at a ratio of 1,000:1.
7) The listing time of BAOv2 will be announced later when we have completed the listing review.
Official Announcement from the Bao Finance team: https://twitter.com/BaoCommunity/status/1589777927855804416
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Gate.io Team
November 18th, 2022
Swap ratio: BAOv1:BAOv2 = 1,000:1
That means, users will receive one BAOv2 token for every 1,000 BAOv1 tokens.
Below are more details:
1) Gate.io has closed the deposit and withdrawal services of BAOv1.
2) Starting On November 24, 2022, 04:00 AM UTC, Gate.io will take BAOv1 trading offline, including spot trading, grid trading, leveraged trading, and Lend & Earn.
3) Users who have BAOv1 grid trading should adjust their trading strategies beforehand. Otherwise, they will be terminated automatically before November 24, 2022, 04:00 AM UTC.
4) Users who have assets in Lend & Earn may manually redeem their assets in advance. Otherwise they will be liquidated before November 24, 2022, 04:00 AM UTC.
5) Users who have outstanding BAOv1 loans in the leveraged trading market should repay the loans in advance. Otherwise, the loan will be settled automatically before November 24, 2022, 04:00 AM UTC.
6) For the migration, Gate.io will take a snapshot of users' BAOv1 holdings. After the snapshot, we will convert BAOv1 to BAOv2 at a ratio of 1,000:1.
7) The listing time of BAOv2 will be announced later when we have completed the listing review.
Official Announcement from the Bao Finance team: https://twitter.com/BaoCommunity/status/1589777927855804416
Gateway to Crypto
Trade over 1,400 cryptocurrencies safely, quickly and easily on Gate.io
Sign up to enter the crypto gateway and get 40% commission from referrals Download iOS/Android App right now.
Follow us on social
Twitter: https://twitter.com/gate_io
Telegram: https://t.me/gate_zh
Instagram：https://www.instagram.com/gateioglobal
Medium：https://medium.com/@gateio
Podcast: https://gateio.buzzsprout.com/?ch=buzzs
Gate.io Team
November 18th, 2022
