NAIROBI (CoinChapter.com) — Stratis, the blockchain development platform for Microsoft developers, will exchange its native STRAX cryptocurrency for a new Ethereum-compatible version called the StratisEVM token on March 20, according to an official announcement.
The STRAX token underpins the Stratis blockchain platform designed for enterprise and business use cases. However, Stratis now aims to leverage Ethereum’s thriving ecosystem by migrating to an EVM-compatible chain.
The deadline for the “On-Chain Stratis (STRAX) Token Swap” is approaching.
By participating in the STRAX token swap round, users will be able to permanently destroy their tokens using the new Stratis Wallet 1.7.0.0 instead of exchanging them for new Stratis EVM tokens at a 1:10 ratio during this period.
But those who miss this deadline need not fret. An off-chain “correction tool” will be released on March 28th, allowing STRAX holders to cryptographically verify their holdings until December 29th, 2024, for swaps.
Stratis, which has its sights set firmly on Ethereum virtual machine compatibility, is taking a calculated gamble with this Stratis token swap. It is yet to be seen whether this strategic shift will pay off or prove to be too ambitious, but the eyes of the blockchain sector are undoubtedly fixed on this unfolding story.
How to Navigate Token Swaps
To participate in the Stratis (STRAX) token swap, holders must first obtain an EVM-compatible wallet, such as MetaMask, to receive the new tokens. Stratis strongly recommends MetaMask as support for other wallets cannot be initially guaranteed.
Next, users will need to download the newly released STRAX Wallet 1.7.0.0, which has integrated token swap functionality. Once setup is complete, holders can access the “Token Swap” screen, enter their Metamask (or alternative) address, agree to the terms, and begin the burn transaction.
With the imminent launch of StratisEVM, the Stratis (STRAX) token swap represents a pivotal moment in the platform’s evolution. Stratis’ commitment to smooth transitions and meticulous planning highlights the project’s commitment to the community. As the countdown continues, excitement grows as we embrace the future of Stratis at the cutting edge of blockchain innovation.
Stratis (STRAX) is trading at $1.40 as the token swap approaches. This is a decrease of 12.06% over the last 7 days. Despite the recent downturn, the pivotal shift to an Ethereum-compatible blockchain could reignite interest and boost STRAX’s market performance.
Now is the time to take action as the token swap deadline approaches. Whether you are a seasoned STRAX holder or a newcomer to the Stratis ecosystem, this is your opportunity to participate in a landmark moment in blockchain history.