DOCK to Finalize Token Migration on March 15th
cheqd has outlined the next steps for migrating DOCK tokens to CHEQ, following Proposal #52. The process involves minting 52.8 million $CHEQ to facilitate the token merge and burning any unclaimed tokens after the migration period ends on March 15, 2025.
Key developments include:
— Network Upgrade under Proposal #57 to enable EIP1559-style burning, fee abstraction, generic burn transactions, and governance-approved $CHEQ minting.
— Approximately 30 million CHEQ has already been distributed to DOCK holders, including users on KuCoin and Gate.io, whose DOCK tokens will soon be burned.
— The remaining minted CHEQ will be held in the cheqd Foundation/treasury account: cheqd1txzxytwlq3h8kwdezd2nw5frdh3eqmp0j2ng34
Once the migration window closes on March 15, 2025, any unclaimed CHEQ will be burned, ensuring the process adheres to the original proposal and supports transparency.
What is a coin swap (token swap)?
A coin swap is a process of cryptocurrency migration from one blockchain to another. It may be due to a hard fork (coin swap) or a mainnet launch (token swap). Holders need to follow swap guides in order not to lose their cryptocurrency.
@cheqd_io
We're advancing the $DOCK to $CHEQ migration under proposal #52. A recent network upgrade (proposal #57) enables the minting of 52.8m $CHEQ to backfill tokens distributed to $DOCK holders.
https://forum.cheqd.io/discussion/25910-dock-migration-proposal-to-mint-cheq