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What Is the $BSL Migration?

$BSL Migration

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Written by Nathaniel O'Dell

The BSL migration is a 1:1 transition of the BSL token from the Binance and Ethereum networks to the Hedera network.

Overview of Token Migration

The migration process involves transferring the value and liquidity of BSL ETH tokens from the Ethereum network to the Hedera network. This ensures that users can continue to utilize their tokens on the new network while maintaining their value.

This migration was proposed, voted on, and approved by the BSL DAO, and ensures that all BSL tokens are fully integrated into the Hedera ecosystem.

Destination of Migrated Tokens

During the migration process, you will be required to provide your Hedera account ID. The migrated tokens will be sent to this account, ensuring that you have access to your new BSL tokens on the Hedera network.

Important: BSL tokens stored on Ethereum (ETH) are no longer valid and must be migrated to the Hedera network. After migration, these tokens will still appear in your wallet but will no longer hold any value or liquidity as their value is transferred to the new BSL tokens on the Hedera network.

How to Migrate Your BSL

  1. Follow the Migration Guide provided by BankSocial.

  1. Prepare Your Hedera Account ID: Before initiating the migration, ensure you have a valid Hedera account ID ready.

  • Ensure you complete all steps carefully to avoid losing your BSL tokens.Learn More

  • Verify Token Receipt: After the migration, check your Hedera account to confirm the receipt of your new BSL tokens.

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