#Migration of DORA-KSM Tokens to Ethereum Main Network
On April 3, the Dora Factory Kusama parallel chain lease expired on April 17, 2023 UTC time. All DORA-KSM on-chain tokens will be migrated 1:1 to the Ethereum main network. This mi
On April 3, the Dora Factory Kusama parallel chain lease expired on April 17, 2023 UTC time. All DORA-KSM on-chain tokens will be migrated 1:1 to the Ethereum main network. This migration allows DORA-KSM coin holders to access the liquidity of Ethereum DORA and participate in a wide range of DORA community activities and token usage scenarios. Coin holders on the Dora Factory Kusama parallel chain need to complete Ethereum address registration within 14 days.
Dora Factory Initiates KSM Parallel Chain Token Migration
##Introduction
On April 3, 2023, the lease agreement for Dora Factory Kusama parallel chain expired. This means that as of April 17, 2023, all DORA-KSM on-chain tokens will be migrated 1:1 to the Ethereum main network. The objective of this migration is to allow DORA-KSM coin holders to access the liquidity of Ethereum DORA and participate in various DORA community activities and token usage scenarios.
##What is Dora Factory?
Dora Factory is a decentralized project incubator and launchpad that aims to help new projects bypass the high barriers to entry and faster access to funding. It runs on Kusama and Polkadot networks, and its native token is DORA.
##Why the Migration to Ethereum Main Network?
There are several reasons why this migration is taking place. Firstly, the Kusama network has some limitations, including higher gas fees and lower liquidity compared to Ethereum. By migrating to Ethereum, DORA-KSM coin holders will have access to a larger market and more liquidity. Secondly, Ethereum has a much larger developer and user community, which means more support and a wider range of potential applications for the Dora ecosystem.
##How will the Migration Process Work?
Coin holders on the Dora Factory Kusama parallel chain need to complete Ethereum address registration within 14 days before the migration period starts. Once the migration period begins, DORA-KSM tokens will be sent to their respective ETH addresses on a 1:1 basis.
##What are the Benefits for Coin Holders?
The migration to Ethereum will provide many benefits to DORA-KSM coin holders. Firstly, they will have access to a larger market and more liquidity. Secondly, they will be able to participate in various DORA community activities and token usage scenarios without any limitations. This will enable them to enjoy greater flexibility and convenience when using their tokens.
##What are the Implications for the Dora Ecosystem?
The migration to Ethereum will have significant implications for the Dora ecosystem. Firstly, it will attract more developers and users to the ecosystem, which will increase its overall value and utility. Secondly, by providing greater liquidity and access to a larger market, it will enable the ecosystem to expand and grow at a faster pace.
##Conclusion
The migration of DORA-KSM tokens to the Ethereum main network is a significant development for the Dora ecosystem. It will provide DORA-KSM coin holders with greater flexibility, access to a larger market, and more liquidity. Furthermore, it will attract more developers and users to the ecosystem, which will increase its overall value and utility.
##FAQs
1. When will the migration period start?
The migration period will start on April 17, 2023, and end 14 days later.
2. What happens if coin holders do not complete the Ethereum address registration within 14 days?
If coin holders do not complete the Ethereum address registration within 14 days, they will not be able to participate in the migration process.
3. What are some potential risks associated with the migration to Ethereum?
There may be some risks associated with the migration to Ethereum, including volatility due to increased liquidity and market fluctuations. However, the benefits of the migration outweigh the potential risks for DORA-KSM coin holders.
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