Introduction
OpenWorld has migrated to Arbitrum from the BNB smart chain. This requires users to swap their old OPEN tokens on BNB for OPEN tokens on Arbitrum. You will receive the same amount of OPEN tokens in Arbitrum as you had in the BNB Chain.
Step-by-Step Guide
Step 1: Add Arbitrum to your Wallet
First, you need a cryptocurrency wallet like Metamask or Trust Wallet to store the tokens. Make sure to add both BNB Chain and Arbitrum networks to your wallet.
Step 2: Add OPEN token to Arbitrum
Use the following contract address to add the OPEN token to Arbitrum on your wallet:
OPEN Arbitrum contract address:
0x58cb98a966f62aa6f2190eb3aa03132a0c3de3d5
Step 3: Burn OPEN Tokens on BNB Chain
Next, you will need to send all your OPEN tokens on BNB Chain to this burn address: 0x9999999999999999999999999999999999999999
Burn address on BSC scan to monitor that your transaction has been recorded:
https://bscscan.com/address/0x9999999999999999999999999999999999999999
This will burn the original OPEN tokens on the BNB Chain. The number of tokens sent will be recorded for the new token distribution.
Step 4: Wait for Snapshot
The OpenWorld team will take a snapshot of the blockchain every Monday and airdrop the OPEN token to your wallet address on Arbitrum by Tuesday.
For example, if you burn on Thursday this week, you will have to wait until Tuesday for the airdrop.
Step 5: Receive New Tokens
After the snapshot, OpenWorld will airdrop the new OPEN tokens to the wallet address you used to burn the tokens, but in Arbitrum. You will receive the corresponding tokens on Arbitrum at a 1:1 ratio.
Note
The above process repeats weekly until all OPEN tokens on the BNB Chain have been burned or some time yet to be determined, after 2024.
FAQs
I did not receive the new tokens after burning, what should I do?
Please double-check that you have added the correct new OPEN token contract address on Arbitrum. Additionally, please wait until Tuesday, since depending on your time zone, the burn may not have occurred yet.
OPEN Arbitrum contract address:
0x58cb98a966f62aa6f2190eb3aa03132a0c3de3d5
If you still do not see the tokens, please contact the OpenWorld support team via Telegram for further assistance.
Do I need to pay any fees for this migration process?
You will need to pay a small transaction fee on the BNB Chain depending on the network conditions.
Could I lose my tokens if I make a mistake in the steps?
It is possible for you to lose ownership of your tokens if you send the tokens to the wrong burn address. Please copy/paste the burn address only from official sources, and read the guide carefully before proceeding. If you have questions, please contact the support team on Telegram.
Why did OPEN migrate to Arbitrum?
Arbitrum offers a more secure, cheaper, and more decentralized ecosystem, that empowers decentralized finance projects like OpenWorld to share those benefits with users.
Start earning passive income in crypto with #OpenWorld. OpenWorld allows you to easily diversify your portfolio across the crypto world.
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