FREYA Token to Migrate from Coinbase’s Base to Solana Network
Freya (FREYA), the in-game utility token for STARFALL CHRONICLES, will migrate from Coinbase’s L2 blockchain Base to Solana. The migration involves a 1:1 token swap into the #USDC pool on Solana, aimed at enhancing usability while maintaining total value.
Migration Details
- The transition will occur over 10 days on the Stardust platform.
- The first three days will serve as a notice period for holders.
- The remaining seven days are dedicated to executing the token swap.
- Holders must manually convert their FREYA coins from Base to Solana.
- The project team will ensure all holders receive new tokens at a 1:1 ratio.
This move aims to improve transaction speed and reduce costs, leveraging Solana's advantages over Base. The FREYA token has recently underperformed, dropping 9% in one day, 37% in one week, and 60% in one month, currently down 93% from its all-time high of $0.1298. However, past migrations have led to price increases for other tokens, raising hopes for recovery.
Attraction to Solana
- Solana offers high-speed transactions and low costs.
- It can process up to 65,000 transactions per second.
- Despite previous congestion issues, it ranks as the third-largest blockchain in stablecoin supply.
- Last December, it had the highest daily net inflows among major blockchains.