VeChain: All you need to know about VeChainThor wallet migration and token swap
VeChain launched its independent blockchain VeChainThor on June 30. The blockchain announced it on Twitter that the blockchain is live, and has generated its first block. This is the first major step of VeChain to migrate from Ethereum. Now, the blockchain its revised timeline for VeChainThor wallet migration and token swap.
According to their Medium post, their goals and intentions are to adopt the go mobile strategy and, therefore, their VeChainThor Wallet will be the portal to all kinds of dapps on the VeChainThor Blockchain. They claim it to be one the most “secure” wallets in the market and further mentions that it is full of features, services, and opportunities that the word wallet may even be limiting. They plan to make VET a migratable asset which can easily integrate with third-party wallets while retaining the X Node status of the individual.
However, the post mentions that they have heard the issues and concerns of the people and to make sure that they are protected they suggested a revised plan. The VeChainThor Ledger application is in the process and the release date will be soon confirmed but tentatively it is scheduled for early August.
So, users who are planning to bind their X Node to their Ledger must wait for the Ledger support. It will help the user to create the VeChainThor address using the Ledger application and not via the mobile application. The VeChainThor Wallet release date is scheduled for July 9. X Node Binding Service is to take place from July 9 until 10 days after the VeChainThor Ledger app is available for migration.
The exchanges, on the other hand, will provide token swap services to the users around mid-July. On the same day, the mobile wallet token swap service is to start on the same day that the X Node Binding Service ends. The said timeline mentions that roughly three weeks after the mobile wallet token swap service is available, X Node monitoring will resume.
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