StratisEVM Update Scaled

Stratis is excited to announce the outcome of the recent community vote for the StratisEVM initiative and extends gratitude to every community member who participated in the vote and demonstrated their support. The engagement and enthusiasm of the Stratis community continue to drive the project’s growth and success.

The community vote concluded with an overwhelming 99.33% of participants voting in favour of the new initiative. 

Moving Forward

As a result of the successful community vote, the next phase will be the start of the token swap period, paving the way for the implementation of StratisEVM. Stratis acknowledges the community’s anticipation for the token swap period; however, at this moment, an exact start date cannot be defined. Stratis is working toward a 6-8 week timeline for the token swap period to begin, with the StratisEVM chain becoming active soon after, but this depends upon several factors, such as; 

Exchange Readiness

Stratis has already begun discussions with the leading exchanges that support the pairs with the existing token. The team at Stratis is working diligently to ensure a smooth transition process when the STRAT token is launched.

Security Auditing

Stratis is dedicated to prioritising the security and integrity of its blockchain platform. To ensure maximum safety for the community, they will be collaborating with a leading web3 auditing firm to conduct comprehensive security audits. These audits are critical in identifying and addressing potential vulnerabilities or issues and instilling confidence before proceeding with the token swap.

What to Expect

There will be two phases where holders of the existing STRAX Token will have the opportunity to participate in the token swap. Initially, holders will be able to cryptographically burn their STRAX tokens for the token swap; this will only be possible before a communicated snapshot is taken. 

Additionally, a ‘proofing tool’ will be provided, enabling token holders to swap their tokens in a non-custodial manner by providing cryptographic proof of their token balance before new tokens are issued on the StratisEVM blockchain.

The token swap period announcement will be accompanied by guides, documentation and dedicated support channels to assist with any questions or concerns with the processes.

If you have any questions or are seeking further clarification on any of the above points, please reach out via the Stratis Discord Server to speak with one of the team.

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