OKX Supports ZK Token Migration to ZKJ with Detailed Plan - Blockchain.News

OKX Supports ZK Token Migration to ZKJ with Detailed Plan

Peter Zhang Jun 12, 2024 11:12

OKX announces support for ZK token migration to ZKJ at a 1:1 ratio, with specific arrangements for the swap.

OKX Supports ZK Token Migration to ZKJ with Detailed Plan

OKX, a leading cryptocurrency exchange, has announced its support for the migration of the ZK token to the new ZKJ token, according to the official token renaming plan by Polyhedra. This swap will occur at a 1:1 ratio, ensuring seamless conversion for all holders.

Details of the Swap

The migration process is set to commence on June 14 at 8:00 AM (UTC). During this time, all existing ZK orders will be canceled, and the ZK/USDT spot trading pair will be delisted. This move is part of OKX's efforts to facilitate a smooth transition for its users.

Upon completion of the swap, users' holdings of ZK tokens will automatically be converted to ZKJ tokens. The trading schedule for the newly renamed ZKJ will be announced by OKX at a later date, providing users with up-to-date information on when they can begin trading the new token.

Risk Considerations

OKX has issued a risk warning emphasizing that the provided information is for educational purposes only and may include data from third-party sources. The exchange does not guarantee the accuracy or completeness of the information and advises users that digital assets are highly speculative and subject to significant volatility. Investors are encouraged to perform their own research and assess their risk tolerance before engaging in trading activities.

For further details on the terms of service and risk compliance, users can refer to OKX's official documentation on their website.

Industry Context

The migration of tokens is a common occurrence in the cryptocurrency industry as projects evolve and update their protocols. Recently, other significant token migrations have included the transitions of popular tokens such as VeChain (VET) and ICON (ICX). These migrations are often aimed at improving the underlying technology and providing better utility and security for users.

As the industry continues to grow, such transitions are expected to become more frequent, with exchanges like OKX playing a crucial role in ensuring that the process is as smooth and transparent as possible for their users.

For more information, readers can visit the official [OKX](https://www.okx.com/help/okx-to-support-zk-token-migration) announcement page.

Image source: Shutterstock