Kiba Inu Migration Notes

Migration FAQ

This is for the attention of all investors on both BSC and ETH, we have the TL;DR/Short version and the longer version down below.
Please note, when sending tokens only send it to our Deployer address: 0x2c5B9dd42d0510C43f1d6d672bD56A7DE0716c91

TL;DR/SHORT VERSION

MIGRATION INFO EVERYONE NEEDS TO KNOW!!
  1. 1.
    This information applies to holders on both ETH and BSC.
  2. 2.
    We have stopped trading on BSC at Monday 28th of February 18:20 EST. We can’t stop trading on ETH because the contract is renounced. DO NOT BUY/SELL ETH after this time.
  3. 3.
    New tokens will be airdropped at a rate of 1:1 to your existing tokens when migration begins.
  4. 4.
    In addition to the 1:1 airdrop, you will receive a 5% bonus of v2 tokens for every token you send to the following deployer wallet address: 0x2c5B9dd42d0510C43f1d6d672bD56A7DE0716c91. This will allow us to drain the liquidity of the existing contracts. This applies to both chains. (Example: if you have 1,000.000 tokens when migration begins and send those tokens to the wallet above, you will get your 1,050,000 V2 tokens airdropped at once when the send-back period ends. If you only send back 500,000 tokens, you will only get 25,000 bonus tokens.)
  5. 5.
    You will receive your airdrop within 24-48 hours of the send back period ending (after we launched the new contract).
  6. 6.
    The send-back will create a big red candle on the V1 contracts. This is a GOOD thing.
  7. 7.
    When trading begins on V2 contracts, the market caps will mirror the V1 contracts when migration begins. We will achieve this by draining the liquidity, adding it to the new contract, and eliminating any difference with funds from the marketing wallet.
  8. 8.
    Gas fees are not going to be reimbursed for the send back.
  9. 9.
    If you try to cheat this process in any way, you will be excluded from the airdrop. Details are in the full FAQ.
  10. 10.
    If you have tokens stuck in the bridge, contact a team member to sort it for you.

Longer more comprehensive version

  1. 1.
    What is a migration? - In our scenario this is a process of moving to a better smart contract which will mean a relaunch of the project on ETH and BSC chains
  2. 2.
    Why are we moving to a new contract? - Our previous contract had fulfilled its purpose in helping us develop our brand and grow as a project. It is now time to look to the future by having a contract that has the ability to be flexible, secure and innovative. The new contract will allow us to change the tokenomics as we grow to suit us through the lifespan of the project.
  3. 3.
    What are the benefits of a migration? - By migrating to a new contract we have:
    1. 1.
      No transfer tax - Send your Kiba tokens to other wallets without being taxed
    2. 2.
      No bridge tax - Move your tokens freely from ETH to BSC without being taxed, you will only pay the network gas fee
    3. 3.
      Flexible tax structure - We will be able to adjust the tax to suit the project as we grow, a lower tax at a higher marketing cap will incentivise investors to buy more d. Improved liquidity - A liquidity tax will be introduced to each buy and sell
    4. 4.
      More appealing to top tier exchanges - The new contract will give us the ability to make the necessary changes to meet the listing criteria of different exchanges
    5. 5.
      Improved gas optimisation - The contract will present you with the best gas prices even during high traffic times
    6. 6.
      Improved contract security - We will be building a new contract from the ground up with all of the existing knowledge from the previous contract meaning we can better implement security protocols to ensure the safety of all investor funds
  4. 4.
    When is the migration? - 2nd March 2022, 48 hours after the announcement for people to send the tokens to the deployer wallet (see instructions below)
  5. 5.
    Will the relaunch be on both chains? - Yes, it will take place at the same time
  6. 6.
    Do I need to do anything to get my new tokens? - If you are holding on:
    1. 1.
      Trust wallet or Metamask - send your V1 tokens to the deployer wallet (see point 14). There will be a 5% bonus issued to those investors who do send their tokens back. (To be eligible for the airdrop you must not sell any of your V1 Kiba tokens)
    2. 2.
      CEX - You do not need to do anything, the CEX will automatically switch you over from the old tokens to the new tokens
  7. 7.
    Are the new tokens airdropped or claimed via portal? - If you are holding on trust wallet or metamask the new tokens will be airdropped 1:1, You may need to add the new contract address to your wallet to view the tokens. If you are holding on a CEX your tokens will automatically be switched to new tokens by the CEX.
  8. 8.
    How soon will I get my new tokens? - If you’re holding on trust wallet or metamask once the new contract is successfully launched the tokens will be randomly airdropped to holders in waves to avoid increased volatility on the new contract. The airdrop for all 34,000 holders should be complete within 24-48 hours after launch. If you are holding on a CEX we cannot give you a timeframe as this is out of our control so your patience will be appreciated.
  9. 9.
    How many new tokens will I get? - You will receive the same amount of tokens as you had at the time of the snapshot which means the airdrop and new tokens on CEX will be to a 1:1 ratio
  10. 10.
    What will be the total supply of the new contract? - The supply will stay the same, 2 trillion in total with 1 trillion on both BSC and ETH chains.
  11. 11.
    Are we relaunching at the same price? - The price will be the same or very similar to that of the snapshot.
  12. 12.
    Are we relaunching with the same amount of liquidity? - The new liquidity will be the same or better than current liquidity, meaning we will have less price fluctuations during sell pressure
  13. 13.
    Are the taxes changed on the new contract? - Yes, we will launch with a 6% buy and 6% sell tax. 5% goes into the treasury and 1% will be added to the liquidity pool, to have a healthier and more stable price floor. We will still have higher tax when you sell within 24 hour after your first buy or when you received your airdropped tokens, the sell tax is then 15% (14% marketing, 1% liquidity)
  14. 14.
    What happens to my old tokens? Do I need to send them anywhere? - When the time is right the team will notify all investors to send their tokens to the deployer wallet.
  15. 15.
    Where to send to? - For both chains, ERC and BSC, send to, Deployer Wallet - 0x2c5b9dd42d0510c43f1d6d672bd56a7de0716c91.
  16. 16.
    What happens with my old tokens? - Your old tokens will be used to drain the old liquidity pool so the new liquidity can be added to the new contract. This isn’t a required step but we do recommend you send your tokens across. As a reward, you will receive an additional 5% in Kiba tokens.
  17. 17.
    Is there a time limit to send my old tokens to the deployer wallet? - Yes, you will have 48 hours from the announcement made on twitter and telegram to send your tokens to the deployer wallet. NOTE- Only send your tokens to the deployer wallet listed in point 15 when instructed to do so and no other contract you may come across.
  18. 18.
    Why should I send my tokens? - This is an optional step that we reward you with an additional 5% tokens on the new contract. If you’d rather just hold through the migration you can also do this and you will get the same amount as you hold.
  19. 19.
    Will my gas be reimbursed? - No, we will not reimburse gas fees directly but we will give you 5% extra tokens if you send it to us.
  20. 20.
    What if I sell within these 48 hours? - You won’t be airdropped. Doesn’t matter how many tokens you sell, you won’t be airdropped on the new contract. Even if you sell a little amount, we won’t airdrop you. This is to make sure the liquidity pool and the market caps stay healthy for the new contract.
  21. 21.
    What if I buy within these 48 hours? - We won't airdrop you also, since we're in the middle of the migration. So don't buy and don't sell during this timeframe. Buy the new V2 contract instead when that's live. So if you want to buy more (so you're already holding tokens), we will deduct the amount you've bought during this timeframe.
  22. 22.
    Will I get taxed for sending my old tokens to the deployer wallet? - Yes, you will be taxed 9%. This is due to the structure of the old contract (and further iterates why the contract would benefit from an upgrade) however the team will ensure you receive the same amount of tokens as the snapshot. You will not lose any tokens during the migration the 9% tax will be compensated to you during your airdrop.
  23. 23.
    What will you do with my old tokens? - Your old tokens will be used to drain the old liquidity and add them to the new contract, this will help us to start our new contract with healthy liquidity. This step is essential our current liquidity is locked for 1 year.
  24. 24.
    Will I still get airdropped if I don’t send my old tokens to the deployer wallet? - Yes, as long as you held all your Kiba tokens during the 48hr cut off period as stated in point 17.
  25. 25.
    What if my funds are stuck in the bridge? - We will take care of you, send us your wallet and preferably the Swap ID and we’ll make sure you’ll get tokens on the new contract.
  26. 26.
    Are we removing the current 9% transfer tax after migration? - Yes. As stated in point 3, there will be no wallet to wallet transaction. Network gas fees still apply
  27. 27.
    Are we removing the current 9% bridge tax after migration? - Yes. As stated in point 3, there will be no bridge tax. Network gas fees still apply.
  28. 28.
    What is the overall migration process? - The process can be complicated but some of the important steps are as follows:
    1. 1.
      Trading is paused on BSC. Due to the contract being renounced we cannot pause trading on the ETH chain.
    2. 2.
      Snapshot is taken.
    3. 3.
      Current holders send their old tokens to the deployer address as highlighted in point 13, you have 48 hours to send. If you send it you will be rewarded an extra 5% of Kiba tokens, if you don’t you will get a 1:1 airdrop
    4. 4.
      Old contract liquidity is drained
    5. 5.
      New contract is launched with new liquidity
    6. 6.
      All existing holders are airdropped new tokens
    7. 7.
      Trading continues as normal on the new contract
  29. 29.
    How many days will migration take? - The migration will take 24-72hrs
  30. 30.
    When will you take the snapshot? - We have chosen to keep the snapshot date unknown to
    safeguard holders from sell pressure
  31. 31.
    Will trading pause before the snapshot? - Yes, this will prevent anyone buying the old tokens
    while the carry out the migration. NOTE, we can only stop trading on BSC and not ETH due to the contract being renounced.
  32. 32.
    Are we renouncing the new contract after migration is complete? - No, we will not be renouncing the contract on BSC or ETH chains as this defeats the purpose of the migration, additionally, top tier contracts require us to own the contract if we want to get listed
  33. 33.
    Are we locking liquidity after the migration is complete? - Yes. Liquidity will be locked on BSC and ETH chains for 1 year, the team will notify the community once the lock has been completed.
  34. 34.
    Is the new contract going to be audited? - Yes. The contract will be audited by Certik and we will be striving for a higher score than already achieved.
  35. 35.
    Will there be any changes to the Kiba Inu name or symbol/cashtag? - No.
  36. 36.
    Will there be an AMA before migration? - Yes. The team will host AMA’s before,and/or during
    the migration. We will notify the telegram and twitter communities before these take place
  37. 37.
    Are we going to get a new chart? - Yes. Since we will have new addresses for BSC and ETH
    we will get new charts.
  38. 38.
    Will there be staking with the new contract? - No. Staking is not planned as of yet, however,
    due to the flexibility of the new contract this is something we could implement if it suits our
    future strategies and goals.
  39. 39.
    Is the new contract deflationary? - Yes - We will not be introducing any automatic burn
    mechanics however the bridge wallet and the buy backs will take tokens out of circulation
    which reduces circulating supply in the long run
  40. 40.
    Will I still get reflections with the new contract? - No, reflections are not looked at favourably by top tier exchanges.
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Migration FAQ
TL;DR/SHORT VERSION
Longer more comprehensive version