Shield Protocol Smart Contract Upgradation and $SHIELD Token Swap
It’s the time we all were waiting for. As you all know Shield Protocol has announced the launch of Shield Ecosystem along with new upgrades and launches in App.
Why Smart Contract upgrade?
To make full compatibility with the upcoming launches, there was a high need to upgrade smart contract so that all updates are aligned and full functionality can be achieved. As announced in the roadmap, the Shield Bridge will launch soon along with pegged tokens on 2–3 blockchains.
Shield Pegged tokens and Bridge will also make the launch of multichain staking possible.
Apart from these upgrades more tools are in planning, So smart contract upgradation was a must. That’s why the Shield Protocol team has decided to upgrade smart contract and users will get airdrop of new Shield tokens based on Latest Smart Contract.
How will Shield token swap and snapshot work?
All Shield holders in Bitmart and Bilaxy exchange are requested to withdraw their $Shield tokens from Bitmart and Bilaxy exchange to their personal BEP20 wallets.
Snapshot will be taken at 9-March-2022 ( 1:00 PM UTC ) for all Shield holders. The final amount in addresses after snapshot will be airdropped to all Shield holders. All holders will get new Shield Tokens (upgraded smart contract). Except withdrawal from Bitmart and Bilaxy, users strictly need not to do anything. Just try to keep your Shield Tokens on your address.
How will it affect trading?
Trading on Bitmart, Bilaxy will be stopped on 9-March-2022 ( 9:00 AM UTC ) and withdrawals will be active for 30 days. Make sure to move funds in BEP20 Wallet before Snapshot on 9-March-2022 ( 1:00 PM UTC )
Trading on Pancakeswap will be stopped by removing liquidity before snapshot on 9-March-2022 ( 9:00 AM UTC )
Trading will resume once airdrop of New Shield tokens is completed. Also please follow below NOTE.
NOTE:- Only follow Official Channels for Updates, ask queries in Official Channels and don’t respond to any DMs or anything from strangers.
Website: https://shieldprotocol.org
Twitter: https://twitter.com/shield2protocol
Telegram: https://t.me/shield2protocol
Medium: https://medium.com/@shield2protocol
