Migration Of AVN Token Into a New Smart Contract
The content of this article is to let you know that the smart contract of AVN token is not functioning well. We discovered an issue while we were executing the plan of locking and burning the tokens on the smart contract.
What is a Smart Contract?
Smart Contract is a tiny program that is stored and executed on the blockchain to make it trustless and secure. This is a piece of code that can be performed automatically in a particular way. Smart contracts have the power in receiving, sending and storing funds.
How does a Smart Contract work?
A smart contract carried out a contemporary interest with cryptographic code. A basic guide to understand how smart contracts work. Every time a coded software instruction is used, thousands of computer networks are performed to process it. The Ethereum Virtual Machine (EVM) is having great power and is responsible for executing contract “bytecode”. Contracts are typically written with smart-specific programming languages like Solidity then assembling information collected to EVM bytecode.
The team found out that our smart contract has no functions in burning and locking of the tokens. The AVNRich team initiated an urgent meeting to resolve and fix the issue of what is the best action to perform. And as a result, We have decided to migrate the AVN token into a new smart contract. Migrating is the only option that we require to perform now because if we disregard this issue, the AVN smart contract might be at risk. We apologize for the inconvenience that this causes, we are doing our best to resolve this issue and to make you reliable, have confidence and feel safe with us.
We will perform the migration of tokens by swap. All AVN holders on erc20 wallets will receive a 1: 1 ratio.
ABIT exchange will support the migration. All AVN holders at ABIT exchange will receive a 1:1 at ABIT exchange, however, holders on ERC20 wallets will do the swap manually.
Migrating of tokens to all holders on ERC-20 and ABIT Exchange will announce officially when will it be started and executed.
Follow this link to view the AVN token details: https://avnrich.shop/about-avn-token/ concerning the burned and locked tokens.
We honestly did not expect this issue. We hope for your kind understanding! Thank you!
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