Important Update: NOW Token Migration from BNB to ETH
Key Takeaways
Migration of NOW Tokens: The NOW token is transitioning from the BNB Beacon Chain to Ethereum due to the phasing out of the BNB Beacon Chain, with deposits of NOW (BEP2) ceasing on November 19. Users are encouraged to complete their migration by November 13 to avoid complications.
Conversion Options: Users can convert their NOW (BEP2) tokens to either NOW (BSC) or NOW (ETH) tokens, with NOW (ETH) serving as a utility token within the ChangeNOW ecosystem, offering essential benefits.
Automatic Conversion Safeguard: ChangeNOW has implemented a safeguard for users who miss the migration deadline; all inactive NOW (BEP2) balances will be automatically converted to NOW on the Ethereum network between November 13 and 18.
Benefits of Migrating to ETH: Migrating to the Ethereum network provides users with enhanced rewards, staking opportunities, and broader compatibility with various decentralized applications (dApps), maximizing the potential of their assets.
NOTE: The Binance Smart Chain (BSC) utilizes the BEP-20 token standard, while BNB operates on the BEP2 standard; this is why you can observe different variants of naming these chains. Don’t get confused!
The NOW token, a key utility asset within the ChangeNOW ecosystem, currently operates on several blockchains, including the BNB Beacon Chain chain. Yet, with the BNB Beacon Chain phasing-out, NOW tokens will no longer be supported on this blockchain.
Read more about asset migration from BNB to BSC in our previous articles:
- The BNB Chain Fusion: Migration from BNB Beacon Chain
- BNB Beacon Chain Final Sunset Fork: How to Safeguard Your Tokens
To maintain functionality, NOW tokens will move from BEP2 to Ethereum, which provides a more robust user experience, opens doors to enhanced DeFi functionality, and allows token holders to enjoy lower fees and faster transactions. Additionally, ETH offers broad compatibility with an array of dApps, thus enabling NOW to integrate with a wider range of projects.
If you’re a NOW token holder, here’s what you need to know about the migration, deadlines, and why you should start converting your tokens right away.
Users can convert their NOW (BEP2) tokens to either NOW (BSC) or NOW (ETH) tokens. Within the ChangeNOW PRO platform and the broader NOW ecosystem, NOW (ETH) functions as a utility token, providing essential benefits for users.
Deadline for Deposits
With this transition, it’s important to note that starting November 19, deposits of NOW (BEP2) will no longer be supported. To avoid any last-minute issues, users are strongly encouraged to complete the migration by November 13. Acting early ensures you have ample time to resolve any potential problems and ensures your NOW tokens remain accessible.
Importantly, ChangeNOW has also implemented a safeguard: all inactive NOW (BEP2) balances will be automatically converted into NOW on the Ethereum network from 13 to 18 November, so your tokens remain secure even if you miss the deadline.
How to Convert Your NOW Tokens
Converting your NOW (BEP2) to ETH is designed to be straightforward and completely free of charge. Here’s a step-by-step guide to get started.
- Go to the ChangeNOW website.
- Select NOW (BEP2) token as crypto you want to send.
- Select NOW (ETH) as the token you want to receive.
- Confirm the transaction details and proceed. Your tokens will then be converted to BSC without any fees.
This commission-free process guarantees that users can migrate their tokens without worrying about additional costs. After conversion, you’ll get your NOW tokens on the ETH chain.
The Benefits of Migrating to ETH
Migrating your NOW tokens to ETH is both about maintaining access and maximizing the potential of your assets. The ETH network offers a range of benefits that make the migration essential: Enhanced Rewards NOW token holders enjoy cashback on exchanges within the ChangeNOW platform. By migrating to ETH, you maintain eligibility for these rewards, which enhance your overall user experience.
Staking Opportunities
NOW tokens on ETH can be staked, which offers the chance to earn rewards while contributing to network security. Prompt migration ensures you won’t miss out on staking rewards.
Act promptly and you’ll secure continued access to these features and position your NOW tokens to benefit from all that ETH has to offer.
Need Assistance? Our Support Team is Here for You
If you encounter any issues or have questions during the conversion, ChangeNOW’s support team is readily available to help. Whether it’s a question about the steps, clarification on deadlines, or technical assistance, you can reach out for quick and reliable support. The goal is for every user to complete the migration smoothly and continue using their NOW tokens without any interruptions.
Start Your Migration Today
To summarize, the migration deadline is November 13 (deposits on Bep2 will stop on November 18), the process is free of fees, and any inactive tokens will automatically be migrated to ETH for added security.
Don’t wait until the last minute – start your conversion today to ensure uninterrupted access to your NOW tokens and all the benefits that come with the ETH migration. Take action now to secure your assets and explore the full potential of the NOW Token!
