Covalent Community Approves Token Migration Proposal
CryptoNewsTerminal Staff08 Jul, 2024
Covalent Community Approves Token Migration Proposal
Covalent, a blockchain data analytics company, has successfully passed a governance proposal to migrate its network tokens from CQT to CXT on a 1:1 ratio. The proposal received a 100% approval rating from token holders, stakers, and delegators, with voting closing on the 11th (local time). This move is expected to streamline the Covalent ecosystem and enhance its overall functionality. The migration will be automatic, ensuring a smooth transition for all token holders.