Annonces Gate.io Updates: No Need to Swap VRJAM Tokens

Gate.io Updates: No Need to Swap VRJAM Tokens

2023-02-24 05:42:21 UTC 20409 Lire

[//]:content-type-MARKDOWN-DONOT-DELETE
According to the announcement from the VRJAM project team on December 9, 2022, the initial circulation of the old VRJAM token is so large that controlling the price of it becomes very difficult. To solve this problem, the project team decided to redesign the initial circulation and migrate the token to the new contract. Gate.io agreed to swap tokens for users. For details, please refer to Gate.io announcement [“Gate.io Will Swap the New VRJAM Token for Users”](https://www.gate-learn.com/article/29106 "“Gate.io Will Swap the New VRJAM Token for Users”"). However, according to the latest news from the VRJAM team, the new design for the VRJAM’s token economy removes the need for community members to swap tokens. VRJAM launched a new token economy system, which includes two separate tokens: VRJAM Red and VRJAM Blue.

According to the project team, community members who want to swap Red tokens for Blue will be able to apply to swap their tokens (in a 1:1 ratio) for 7 days following the official announcement of the token swapping procedure which will be published on Monday 27th of February along with a new and updated version of the VRJAM Whitepaper defining the new token economy system in detail. According to the VRJAM team, the value of VRJAM Red is 10x higher than that of VRJAM Blue. For users who want to swap VRJAM Red for VRJAM Blue, please follow the official announcement of the project team.

**Gate.io users hold VRJAM Red tokens. The withdrawal service of VRJAM will be resumed soon.**

Withdraw VRJAM: https://www.gate.io/myaccount/withdraw/VRJAM
VRJAM Official Announcement: https://vrjam.medium.com/vrjam-unveils-its-expanded-token-economy-system-40e7e20c9b89

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Gate.io Team
Feb 24th,2023

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Gate.io Updates: No Need to Swap VRJAM Tokens

Gate.io Updates: No Need to Swap VRJAM Tokens

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