The Fuel Network Foundation is taking significant steps to enhance network participation by proposing an update to the token migration and unlocking schedule for its FUEL V1 to V2 transition. According to the official information, this move is designed to incentivize the remaining holders of V1 tokens to make the switch, addressing the issue of a substantial number of unmigrated tokens.
Streamlining the Migration Process
The proposed update aims to streamline the migration process, making it easier for V1 token holders to transition to the newer V2 tokens. The Foundation has noted that a considerable amount of FUEL V1 tokens are still in circulation, which is preventing the network from reaching its full potential. By encouraging migration, the Foundation hopes to foster a more active and engaged community.
Incentives and Timelines for V2 Tokens
In addition to the migration incentives, the updated schedule includes specific timelines for unlocking V2 tokens, which are expected to provide clarity and motivation for users. The Fuel Network Foundation believes that these changes will not only enhance user experience but also strengthen the overall ecosystem by ensuring that more participants are involved in the network's growth and development.
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