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January 31, 2024
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Introducing the New RMRK Token Contract

We're thrilled to introduce the new RMRK token, marking a big step in our efforts to offer a smooth and secure cross-chain experience

Introducing the New RMRK Token Contract

Dear RMRK Community,

We're thrilled to introduce the new RMRK token, marking a big step in our efforts to offer a smooth and secure cross-chain experience. This upgraded token will replace the current xcRMRK token, providing improved features and utilities for our users.

The decision to create the new RMRK token stems from the suspension of the Multichain bridge used for token bridging, resulting in the fragmentation of the xcRMRK token across multiple chains. The new RMRK token, built on OZ and Axelar, is a cross-chain token that can be bridged between chains through the Axelar Network, ensuring future resistance to such events.

Closing and opening new liquidity pools

Starting this migration process, we already closed the liquidity pools in the DEXs where the old xcRMRK token was. We have also started a new one with the new token and are in contact with CEXes to update the contracts for the new token.

For now, we don't recommend using any CEX until they update the contracts. We will keep our community informed on this point. If you have your old tokens at any CEX, they are safe but we recommend that you move them from your wallet so you can swap to the new tokens (see below for info on how to swap)


Swap Ratio

The swap ratio from old tokens to new one is 1:1. So you will get the same amount of tokens when you swap them.

New LPs with updated contracts that you can use

Uniswap (Base)

StellaSwap (Moonbeam)

CEX

We are discussing with CEXes if they can migrate all tokens automatically but there is no guarantee that it will happen. If you have your tokens on a CEX and want to upgrade them to the new RMRK token, you will need to withdraw them to your personal wallet and then swap them to the new RMRK token.

Utilities of the New Token

The new RMRK token comes with exciting utilities, including trading and discount fees at Singular.app (coming this week) and in the future at Mintaur.app. We are committed to expanding the token's utility, and additional features will be announced in due time.

Introduction of the Swap/Bridge Tool

To facilitate the smooth transition to the new RMRK token, we have introduced a user-friendly swap/bridge tool at https://bridge.rmrk.app/. This tool will enable you to seamlessly swap your old xcRMRK tokens for the new RMRK tokens on all supported chains and as well to transfer the new RMRK tokens across chains. 

Important Links

For your convenience, here are the links to the token contracts for each chain:



Swapping from Asset Hub

Users with tokens in Polkadot/Kusama's Asset hub should bridge tokens to Moonriver via XCM first before migrating/swapping with our tool. Follow the steps below:

Full video guide

Step 1 – Navigate to https://apps.moonbeam.network/moonriver/xcm

Step 2 – Select RMRK

Step 3– Select From and To networks

Step 4 – Select how many tokens you wanna bridge

Step 5 – Execute


Swapping old RMRK tokens to new ones


To swap your tokens inside our app, it's a simple process. Be aware that if your tokens are on Moonriver, they will be swapped and transfer automatically to Moonbeam.
Follow this guide to start your swap processing towards the new token:

Check the FAQ section on the bottom of the page at https://bridge.rmrk.app/ to have complete information. You will find there other video tutorials.



Telegram Support

For further assistance, join our Telegram community at https://t.me/rmrkapp. Please note that we will not send any direct messages, and it is essential to verify the identity of team members for your safety. We will never contact you directly to bridge neither ask your private keys.
The only place to swap and bridge your tokens is at https://bridge.rmrk.app/

We appreciate your ongoing support as we continue to enhance the RMRK ecosystem. Thank you for being part of our vibrant community.

Best regards,

The RMRK Team

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