All trading activities in SAITAMA are set to be suspended on Bitrue on the 7th of June. The exchange has announced the suspension in support of the V2 migration of SAITAMA tokens. All SAITAMA trading pairs will be removed from the listings at 4:00 UTC, along with deposits and withdrawals.
SAITAMA has recently decided to migrate to an all-new V2 network to address all the issues in the current network. The primary reason for the migration is SAITAMA’s market cap, which, once valued in billions, came down to the range of millions in the last few months.
Yes, the contracts and the tokenomics of the current network are inflexible, affecting the fund management greatly. As per the reports, the SAITAMA network has no marketing wallet, and they have to sell their reserve tokens even to accumulate marketing funds.
And what’s more, the inflexibility of the old network also affected the transparency, and the community had no way of knowing what the funds were used for. It develops into an issue of community trust and needs to be addressed if the ecosystem hopes to get back on track.
So the meme-coin team has decided to migrate to a new, flexible, and transparent network to bring solutions for all the issues it is faced with. The migration will also introduce new tokenomics for the Saitama Inu ecosystem, and it will reduce the supply to push the price of new SAITAMA tokens.
As per the new V2 tokenomics, the tax on SAITAMA tokens will be 4%. Of which, 1% goes to the burn wallet as a deflationary measure, and 1% will be offered back to users as pool rewards. The remaining 2% will be taken as sustainability tax.
The crypto exchange Bitrue announced the suspension of all SAITAMA-based activities during the migration to support the upgrade. The team also stated that any deposits during migration would be lost irretrievably. All the activities will be restored after the migration is complete.
Bitrue will receive the new SAITAMA tokens from the meme-coin team to distribute among the users. There are no additional requirements to receive the new tokens. They will be sent directly to accounts with old SAITAMA token holders, and the amount will be calculated using a specific formula.
Apart from the new tokenomics, the V2 upgrade will also bring several other improvements, including contracts for flexibility. These additions are brought in to fortify the practical side of the network moving forward.
Many have positively opined Saitama Inu’s decision to migrate to a V2 network. They believe it becomes a symbol of respect the team has for its community.
