Swyftx Will Support bZx Protocol Token (BZRX) Token Swap to OokiDAO Token (OOKI)
December 20, 2021
2 minute read
Written by Ted
bZx Protocol (BZRX) is undergoing a token swap and redenomination to a new smart contract called OokiDAO (OOKI). Swyftx will support this migration. During this process:
BZRX deposits and withdrawals will be suspended at 12pm AEST on Monday 20 December 2021.
A snapshot of all current bZx Protocol holdings will be taken and all Swyftx customers with BZRX balances will have these assets redistributed at a ratio of 1 BZRX = 10 OOKI.
Trading for OOKI will then become available on the Swyftx trading platform on Friday December 24 after 3 pm AEST.
Deposits and withdrawals for OOKI will be opened shortly after.
The New ERC-20 token contract (OOKI): 0x0De05F6447ab4D22c8827449EE4bA2D5C288379B
Existing holders of the BZRX token will have the percentage of ownership of the total token supply diluted. This Is due to the Protocol DAO having voted to mint an additional 23 million BZRX tokens as part of the token swap in order to finance the token buyback of BGOV and PGOV tokens; and
The additional OOKI tokens will be transferred to the bZx Protocol DAO Treasury after the token swap is complete.