This article presents the step-by-step process of How To ALBT Token Migration to NXRA tokens.
This specific migration is fundamental for protecting the integrity of the investments made within the AllianceBlock ecosystem.
We will deal with the eligibility check through to the review and the successful claiming of the NXRA tokens migration processes.
What is ALBT Token Migration?
The ALBT Token Migration means moving from the old ALBT standard to the new ALBT standard, which can be a new blockchain or a new token.
This means that the existing ALBT will be exchanged for a new version. The reason for this could be many, mainly to improve the security, features or interaction within the ecosystem.
Token holders will have to follow those instructions on those particular platforms to finalise the migration and not get disconnected from the ALBT network.
How To ALBT Token Migration to NXRA?
ALBT tokens are eligible for migration to NXRA. To begin the migration process, follow these guidelines:
Eligibility Check: Make sure your wallet is migratable. This information may be found on appropriate Alliance Block web pages or in corresponding Medium articles.
Wallet Integration: Navigate to the official claim page (https://claim.allianceblock.io/). Link to your wallet i.e. MetaMask, TrustWallet, Coinbase Wallet.
Receiving NXRA Tokens: Typically, the package will include everything necessary to go through the claimed step. Gas fees might be required, which are paid by the wallet connected to the site.
Verify Claim: Use the address of your wallet to locate the movement in the Token Transfers (ERC-20) section of Etherscan. The NXRA tokens would have been credited to your wallet if the claim was successful because it was correctly executed.
Add NXRA to Wallet if Necessary: Search for NXRA under the network your token wallet uses and add it if it is not present.
If more detail is needed, the step-by-step instructions on the website and Medium blog of Alliance Block will also suffice.
Reason For the Migration
In February 2023, BonqDAO suffered an attack which prompted the migration of ALBT tokens to NXRA.
In order to maintain the security and the overall solidity of the AllianceBlock ecosystem, the decision was made to design a new token which would replace the older ALBT token2 – NXRA (AllianceBlock Nexera).
This migration was meant to assume the usability of the previous token and seek adequate structures for the next phase of Alliance Block.
Common issues and solutions
During the ALBT Token Migration to NXRA there are some issues that the users may face. Below are some of the problems along with their resolution:
Wallet Eligibility: Sometimes, the users realize that their wallet is not usable for the migration.
Please refer to the official AllianceBlock website or Medium articles for eligibility criteria.
Connection Issues: There may be some issues for the users to connect the wallet with the claim page.
Make sure you are using MetaMask, TrustWallet, or Coinbase Wallet as a supported wallet. Look at the step-by-step procedure from AllianceBlock.
Gas Fees: Confusion regarding gas fees or mistakes in paying gas fees is not uncommon.
Use your wallet to transfer ETH enough to cover the gas fees. The claim page has details on the right way to pay the costs.
Claiming NXRA Tokens: There have been complaints that after claiming, users do not find NXRA tokens in their wallets.
Using Etherscan, search your wallet and view the Token Transfers (ERC-20) section. Once the tokens are claimed, they would show up there assuming the claim was successful. In some cases, it is necessary to tell the wallet that NXRA is a custom token manually.
Legacy ALBT on Other Chains: ALBT holders in other chains may have problems.
Transfer your seed phrase to an ERC-20 token containing a wallet and use it, such as MetaMask. Instruction of wallet import is provided.
Error Messages: During the process of the transfer users may receive error codes and prompts.
Use the claim page widget to send a support ticket together with a screen image of the error. There is no doubt that the support can help in internally resolving the problem.
Conclusion
To summarize, the ALBT to NXRA token migration is an essential process in maintaining the safety and integrity of the AllianceBlock ecosystem.
With the proper guide such as this that details checking one’s eligibility, tethering one’s wallet, and claiming your NXRA tokens can successfully transfer from the old ALBT token with ease.
Not only does this migration allow for security improvement, but it also paves the way for further advancement and development within the AllianceBlock network.
By focusing on the details of migration and possible concern and their wise solutions, a practical migration can be done while remaining active in the dynamic Alliance Block platform.
