Covalent Community Approves Token Migration Proposal

IconCryptoNewsTerminal Staff08 Jul, 2024

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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.