It is essentially an upgrade - it will be a brand new contract (and coin, making the previous one obsolete). This will allow us to take administrative actions, upgrade the contract with new utility (e.g. burn functionality and staking), and change important parameters if needed. BEN Coin will also be reducing its overall total supply to 888 Billion tokens.
How should I prepare?
BEN and its team will make this as seamless as possible. For the interim, we recommend holding your BEN coins in a self custody wallet (e.g. Trust or MetaMask). We are yet to confirm any exchanges that have listed BEN to be in support of our migration. Just hold tight and await further official announcements from our socials.
How will it affect my tokens?
Don't worry, your tokens are safe. The amount of tokens you receive from V2 may not be like for like, but the percentage of the supply that you own will be, therefore the value of your holdings will stay the same if the market cap remains unchanged. Have a go with our token calculator to get a grasp of how it works!
Token Calculator
Then I own 0 BEN Coins, which is
0% of the current supply.
The current worth of my holdings is approximately $0.
I will receive 0 BEN Coins, but I will retain my
0% of the supply. If the market cap stays the same the worth of my new holdings will be approximately $0.