Posted on: Dec. 1, 2021
FROM THE eFIN TEAM
We are happy to announce that we will be migrating the eFIN blockchain onto the BNB Chain on April 15th, 2022. The eFIN blockchain has not been updated for years, its technology is outdated and its maintenance is very expensive while an upgrade to another blockchain would carry some serious challenges that would make it very costly to implement. Migration to the BNB Chain will allow the team to list on decent exchanges much more quickly and for a lot less money. With the BNB Chain, users will always benefit from ultra-low fees while trading on a vast crypto ecosystem having hundreds of coins to choose from.
Another advantage of this move is that it will now be possible to know how many eFIN Coins are actually in circulation. It is very likely that a substantial amount of eFIN Coin has been lost in time due to several circumstances. This would allow for the true circulating supply of WeFIN to be accurately known. The resulting amount of eFIN Coin that isn’t swapped will be mirrored by the equivalent in WeFIN not being minted.
The eFIN community will always be advised when and why more WeFIN tokens are minted in the future. Team wallets will be used for exchange listings, market makers, staking/liquidity pools, promotions, marketing, etc. The maximum supply of WeFIN is capped at 11.5B tokens regardless of circumstance.
Therefore, in order for the eFIN blockchain to switch over to the BNB Chain, every eFIN user must convert their eFIN Coins to WeFIN by April 15th, 2022. As of that date, converting from eFIN to WeFIN using the eFIN Bridge will no longer be possible.
Thank you all for your infinite patience, cooperation and understanding as we continue moving forward!!
The eFIN Team
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