This article was first published on null
Migrate your GNT to the new, ERC-20 GLM token - step by step guide and migration options
Hello! We’re finally ready! This blogpost marks the launch of the GNT to GLM (0x7DD9c5Cba05E151C895FDe1CF355C9A1D5DA6429) migration. As you might have read in the FAQs before, this migration does not have an end date, so take your time, read everything carefully, and migrate whenever you are ready.
Bear in mind also, that you will need a bit of ETH to migrate to pay for gas (fee for transactions in Ethereum). Gas price fluctuates a lot and quite frequently lately, so make sure to check ETHGasStation so you don’t get your transactions stuck.
Now, to the why: we are migrating towards an ERC20 token, mainly because New Golem’s transaction framework is built on Ethereum’s Layer 2, and this scaling method requires tokens to be ERC-20.
Our former token was launched in 2016, and back then, ERC-20 was not popular, nor did we know how widely adopted it would become. ERC-20 tokens are able to be used freely not only for L2, but across DeFi and DEXes (decentralized exchanges), and can give you access to other benefits within the Ethereum blockchain. The new GLM is the key for us to unlock all of this!
You can migrate through different methods, but if you have little experience with Ethereum, we highly recommend the MetaMask or MyCrypto ones (they are safe, easy, and both support hardware wallets such as Ledger Nano S and Trezor). The other two are for advanced users.
Please also see our Audit Report on the migration contracts.
IMPORTANT: If you have your GNT within the Golem app, or have GNTB (batched GNT), please click ...
To keep reading, please go to the original article at: