Preparing for the Move to Solana
Hey everyone! I’m Rochelle T., and most of you know me as the community manager here at Effect AI. I've written up a checklist of the do's and dont's of the upcoming migration! The snapshot for token migration will occur on 1 January at 12:00 PM UTC for all EFX and NFX tokens, so now is the time to get ready. Follow this step-by-step pre-migration checklist to make sure you are ready for the big day!
Step 1: Prepare for the Snapshot
Here are the most important rules to follow for the snapshot:
- Keep Your EFX and NFX Tokens on EOS and BSC Chains:
Ensure your EFX/NFX tokens are stored in a wallet you control on either EOS or BSC networks. - Avoid Exchange Wallets:
Tokens held in an exchange wallet or liquidity pool during the snapshot will not be included in the migration and will be lost. Transfer your tokens to a personal wallet before the snapshot date. - Double-Check Your Wallet Control:
Make sure you have access to the private keys or recovery phrases for your wallet to retain control of your tokens.
Step 2: Set Up a Wallet on Solana
On January 5th, the new EFFECT tokens will be claimable on Solana. To prepare:
- Choose a Solana Wallet:
We recommend using Phantom or Backpack, as they are user-friendly and widely supported in the Solana ecosystem. - Set Up and Secure Your Wallet:
Download your wallet from its official source, set a strong password, and back up your recovery phrase securely. Make sure you have a small amount of SOL in the wallet for the claiming transaction.
Step 3: Wait for Official Announcements on 5 January
⚠️ Do not attempt to swap your tokens or interact with any claim portal until the official announcements are made.
After the snapshot, Effect AI will release details about the claim process. Here’s what to watch for:
- Claim Portal:
The official claim portal for swapping your old EFX tokens to the new EFFECT tokens on Solana will be released by Effect AI on 5 January, 2025, on our OFFICIAL WEBSITE ONLY. - New EFFECT Token Contract Address:
The new token’s contract address will be announced via Effect AI’s official channels.
Frequently Asked Questions
1. What happens if I miss the snapshot?
If your tokens are not in a personal wallet on EOS or BSC at the time of the snapshot, they will not be included in the migration. Tokens held on exchanges or in liquidity pools during the snapshot will be lost.
2. Will staked tokens count in the snapshot?
Yes, all liquid and staked EFX and NFX tokens in a wallet you control (not exchange wallets or liquidity pools) will be included in the snapshot.
3. When will the claim portal be live?
The claim portal will be released by Effect AI on its official website only on 5 January, 2025. Keep an eye on Effect AI’s official communication channels for updates.
4. What if I have tokens on multiple chains (EOS and BSC)?
Effect AI will account for tokens on both chains during the snapshot, so make sure all your tokens are in wallets you control on these chains
5. Will there be a deadline to claim the new EFFECT tokens?
No, the claim portal will be open and working for a very long time; there’s no deadline to claim your new EFFECT tokens on Solana.
6. I have my tokens in Trust / TokenPocket / Wombat / Anchor wallet, can I use the migration portal with them?
Yes, as long as you have access to your wallet, you can use them to connect to the migration portal and migrate them to Solana. We recommend Anchor wallet for the smoothest experience.
7. What is the contract address of $EFX?
Note: We do not advise to purchase any EFX or NFX after the snapshot on 1 January, 2025. If you are looking to buy $EFX prior to the snapshot, it can be found here:
BSC Token Contract: 0xc51ef828319b131b595b7ec4b28210ecf4d05ad0
EOS Token Contract: effecttokens
Newdex - Buy EFX with EOS
PancakeSwap - Buy EFX with BNB
Defibox - Buy EFX with EOS
ORION - Buy EFX with USDT (BSC)
$EFX on CoinMarketCap
Beware of Scammers
As with any blockchain migration, scammers will try to exploit users during the process. Follow these safety tips:
- NEVER Share Private Keys or Recovery Phrases: No legitimate migration process will require you to share sensitive wallet information.
- Only Use Official Channels: Always check for announcements on Effect AI’s website and verified social media accounts.
- Verify Links: Always double-check URLs to ensure they are from Effect AI’s official website.
- Avoid Third-Party Tools: Use only the official claim portal and wallets recommended by Effect AI.
- Do not use a scam claim portal: Only visit the Effect AI website to access the claim portal.
If you encounter suspicious activity or have questions, report them to Effect AI’s support team immediately.
With the migration to Solana on the horizon, we are entering an exciting new phase with Effect AI. As always, Keep an eye out for updates, and let’s move forward together! See you on Solana!