NAIROBI (CoinChapter.com) — Stratis, a blockchain development platform for Microsoft developers, will swap its native STRAX crypto to a new Ethereum-compatible version called StratisEVM Token on Mar. 20, per an official announcement.
The STRAX Token underpins the Stratis blockchain platform, designed for enterprise and business use cases. However, Stratis now aims to harness Ethereum’s flourishing ecosystem by migrating to an EVM-compatible chain.
On-chain Stratis (STRAX) Token Swap” Deadline Looms
Participating in the STRAX token swap round enables users to permanently destroy their tokens during this window using the new Stratis Wallet 1.7.0.0 in exchange for the new StratisEVM tokens at a 1:10 ratio.
However, those who miss this deadline need not fret. An off-chain “proofing tool” will open on Mar. 28, allowing STRAX holders to cryptographically validate their holdings until Dec. 29, 2024, for the swap.
With its sights firmly set on Ethereum Virtual Machine compatibility, Stratis is making a calculated gamble with this Stratis Token Swap. Whether this strategic pivot pays off or proves too ambitious remains to be seen, but the blockchain sector’s eyes are undoubtedly fixed on this unfolding narrative.
How to Navigate the Token Swap
To participate in the Stratis (STRAX) Token Swap, holders must first obtain an EVM-compatible wallet like MetaMask to receive the new tokens. Stratis strongly recommends MetaMask, as support for other wallets cannot be guaranteed initially.
Next, users need to download the newly released STRAX Wallet 1.7.0.0, which integrates the token swap functionality. Once set up, holders can access the “Token Swap” screen, input their MetaMask (or alternative) address, and initiate the burn transaction after agreeing to the terms.
With the StratisEVM launch imminent, the Stratis (STRAX) Token Swap presents a pivotal moment for the platform’s evolution. Stratis’ commitment to a seamless transition and meticulous planning underscores the project’s dedication to its community. As the countdown continues, the anticipation builds – embrace the future of Stratis on the cutting edge of blockchain innovation.
Stratis (STRAX) trades at $1.40 as the token swap approaches. This represents a decrease of 12.06% over the past seven days. Despite the recent bearish price action, the pivotal transition to an Ethereum-compatible blockchain could reinvigorate interest and buoy STRAX’s market performance.
The time to act is now as the clock ticks down to the token swap deadline. Whether you’re a seasoned STRAX holder or a newcomer to the Stratis ecosystem, this is your opportunity to be part of a groundbreaking moment in blockchain history.
