Smaugs — Avalanche Subnet Migration
The Smaugs project was released as a project focused on the NFT marketplace and DEFI. This purpose does not cover a general goal such as Subnet. Therefore, there will be a migration to the Avalanche network with a new token (contract) and a new brand name. New brand and contract will be announced soon.
SMG token holders will have their SMGs converted into new tokens. New tokens will be sent directly to wallets.
Migration timeline:
- Withdrawal of 19 May pancakswap liquidity.
- Closing deposits and withdrawals on Central exchanges.
- May 20 unlocking of stake pools and withdrawal of tokens to wallets.
- Tokens on Central exchanges do not need to be withdrawn to the wallet. Tokens will be sent directly your exchange account by taking snapshots on exchanges.
SMGs in staking pools(launchpad) must be withdrawn to wallets such as metamask, trust wallet. Snapshot will be taken on May 30, between 13.00 UTC and 15.00 UTC. Metamask, trust wallet and similar wallets will be sent to those with SMG according to the number of tokens.
New Tokenomics:
The total supply will be 10 million.
The circulation supply will be 4.118 million.
The remaining 5.882 million tokens will be locked. (Lock details will be announced with the new brand name.)
The number of new tokens will be sent proportionally to the number of old tokens.
