AMA Smart Contract Migration

MrWeb Finance
2 min readJul 18, 2022
source: Mrweb Finance

Mrweb Finance (AMA) Token will be migrated to a new smart contract to maintain the project’s long-term sustainability. This has been backed by community support through a poll on our official telegram:

The old smart contract (V1) gave full rights to the owner of the contract to mint additional tokens to the total supply. To remove the owner’s ability to mint more tokens, we needed an upgrade in the smart contract to increase investors’ trust.

Also, we listened to our community members who wanted the tokens to be reduced to 100 million in maximum supply.

The Way Forward
After several weeks of extensive review, we created a new smart contract (V2) and had it fully audited by QuillAudits. Check the full report here.

The Rate
We agreed on a 500:1 swap to reduce the tokens to 100 million in maximum supply, as requested by the community members. This will be followed by the price of AMA being a multiple of 500 at the time of swap. This means users with 500 AMA tokens will get 1 AMA token after migrating to the new smart contract. At the same time, if the price at that time is $0.005, after migrating to the new smart contract, it will become 0.005*500 = $2.5.

There will be no change in USDT value after migrating to the new contract, so users should feel free to participate in this process.

Where to Swap the V1 Tokens
We will open a new site for the migration process in due time. We are currently testing this to ensure high security and prevent funds loss.

We are in touch with all the exchanges where AMA token is listed. Users who have their tokens on these exchanges will have nothing to do. The exchanges will migrate their members’ Tokens.

Those who hold the AMA tokens in their wallets rather than exchanges will have to manually use our token swap site to migrate to the new smart contract.

Time Frame
The migration will start on 29th July 2022. The exact time will be announced later.

There will be no time limit for the swap, but at a point in time when all the V2 swap pool is drained, users would have to ask for replenishment of the pool before migrating to the V2 smart contract.

Important Notice
Make sure you are visiting our official website for the swap. Do not click on any links that promise you bonuses for swapping. We are not conducting any airdrops or bonuses for this migration process. Check our official channels below for further assistance.

Please, use our verification tool to prevent being scammed.

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