Announcements Gate.io Supports Cryptofi (CRYPTOFI) Contract Migration

Gate.io Supports Cryptofi (CRYPTOFI) Contract Migration

2023-08-01 07:22:30 UTC 16573 Read

[//]:content-type-MARKDOWN-DONOT-DELETE
According to the Cryptofi (CRYPTOFI) team, Cryptofi (CRYPTOFI) will be migrated to the new smart contract at a ratio of 1:1 based on the snapshot to be taken on August 4, 2023, 06:00 A.M. UTC. Gate.io fully supports the migration and will swap tokens for users. If your Cryptofi (CRYPTOFI) tokens are currently on Gate.io, you don’t need to do anything in particular.

**Details:**
1) Gate.io has suspended the deposit and withdrawal services for Cryptofi (CRYPTOFI).
2) Gate.io will suspend Cryptofi (CRYPTOFI) trading services, including spot trading and quantitative trading, on August 2, 2023, 06:00 A.M. UTC.
3) Users who have in-progress Cryptofi (CRYPTOFI) quantitative trading should adjust their trading plans beforehand. Otherwise, the plans will be terminated automatically by August 2, 2023, 06:00 A.M. UTC.
4) Contract address for new Cryptofi (CRYPTOFI): 0x42fe18001d1fc598fb28ad98d1bbd0b290b952a6 (ETH)
 
Tokenomics: 
Total Supply of the old CRYPTOFI: 1,000,000,000,000 
Total Supply of the new CRYPTOFI: 1,000,000,000,000,000

Allocation of old CRYPTOFI tokens: 
Gaming wallet: 9% (Unlocked) 
Airdrop for community rewards: 9% (Unlocked) 
Rewards: 9% (Unlocked) 
NFT: 9% (Unlocked) 
Development: 9% (Unlocked) 
Locked: 50%
Initial circulation: 5%

Allocation of new CRYPTOFI tokens: 
Airdrop swap: 0.0605% (Unlocked) 
Gaming wallet: 0.0125% (Locked for 12 months, monthly release thereafter) 
Development: 0.007% (Locked for 12 months, monthly release thereafter) 
Team: 0.003% (Locked for 12 months, monthly release thereafter) 
NFT Roster: 0.006% (Locked for 12 months, monthly release thereafter) 
Airdrop for community rewards: 0.011% (Locked for 12 months, monthly release thereafter) 
Locked: 99.9% (Locked for 6 months, 2% release monthly after that)

**Please note that after the swap, the tokenomics of Cryptofi (CRYPTOFI) project will change, and the total supply of the new token will increase by 1,000 times. The 99.9% new Cryptofi (CRYPTOFI) tokens will be locked, with only 0.1% circulating. The lockup period will be 6 months, with 2% release monthly after that. Users who do not wish to participate in the swap are advised to sell their tokens before the trading closes. Gate.io will no longer support the old Cryptofi (CRYPTOFI) tokens. The listing time for the new Cryptofi (CRYPTOFI) tokens will be announced later when Gate.io completes the listing review.**

Project team announcement: https://twitter.com/CFI_Token/status/1678412090086764546

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Gate.io Team
August 1,2023

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