The BitStash smart contract on Ethereum has been migrated and will automatically be airdropping holders their new STASH tokens. A snapshot will be taken at 04/11/2021 12:00 am (PST Time Zone) of all current holders and their wallet addresses.
It is important that you have your STASH in an accessible wallet that can receive ERC20 tokens. Such as MetaMask, MyEtherWallet, Atomic, or another similar wallet that can store these tokens. Your balance on 4/11/21 will determine how much STASH you will receive in the migrated token. As previously announced with the BitStash blockchain being 200:1 of the current supply.
The same ratio applies for the Ethereum based ERC20 token STASH. For every 200 STASH token you have now in your wallet you will receive 1 STASH token in return. You can learn more about the reduction in supply here: https://bitstash.co/latest-progress-on-the-bitstash-blockchain-including-new-supply-changes/
Important: Please remove all and any STASH that might still be on an exchange as this STASH will not be swapped by our team and will not be able to in the future.
Those that do not have more than 40,000,000 STASH in their wallet will need to fill out the following form as your balance will not automatically be swapped. You will have until April 30th to complete the following form here: https://forms.gle/DvWqnfF9c31JtSPD9
Moving forward the swap platform is back up and running with the new token smart contract. You can swap your new STASH to the BitStash Blockchain here: https://swap.bitstash.co/
You can view and read the new token smart contract here: https://etherscan.io/address/0xe4f356ecce6fbda81ecdea2e38527e59422861c2
What does this mean for the old BitStash token? Essentially it will become obsolete as progress moves forward on developing BitStash. Will there be another foreseeable migration? No, there are no plans to migrate the token at this time. Continue reading to see why.
Why the Token Migration?
Migrating the token is necessary for a few reasons which we will cover here. A primary reason is for the supply on both the BitStash Blockchain and the STASH ERC20 token to be 1:1. This allows for us to easily continue our development on a cross chain blockchain. Where assets on the BitStash Blockchain can easily be transferred and used on the Ethereum Blockchain as well.
At the time of writing we are 100% successful in moving STASH from Ethereum to the BitStash Blockchain. In the coming weeks, we aim to have a fully working bridge between the two chains as well as introducing new assets such as Ethereum and Tether.
Continued vision for being used as a form of payment. By including the ERC1363 standard (payable function) within our new token smart contract now, when you use the STASH ERC20 token to pay for goods, services, subscriptions, or just about anything. Instead of needing to confirm two transactions (Approval & Transfer). You only need to confirm once, saving on gas fees and time. You can learn more about ERC1363 here: https://eips.ethereum.org/EIPS/eip-1363
In addition, the new smart contract has new features as well such as the ability to burn token, mint tokens (as new blocks are produced on the BitStash Blockchain), transfers are unstoppable, total supply is capped to 100,000,000 STASH, no security vulnerabilities, and is ready for mainstream adoption.