Launchpad Token Migration

Launchpool has established a new company in a crypto-friendly jurisdiction due to pressing regulatory issues in the previous jurisdiction. This move ensures compliance with favourable regulations and supports our operational continuity.

Yes, in accordance with regulatory requirements for our offshore entity, we have appointed a new director. The Launchpool Core Management team has also changed, as a result of previous staff pursuing other endeavours.

The majority of our KYC data is over three years old. These checks were conducted by a third-party KYC provider, Sumsub. As a result, all previous KYC needs to be reset, requiring all users to resubmit.

The LPOOL token is migrating to a new chain due to BEP20 LPOOL tokens being stuck in the Anyswap bridge following the Anyswap hack last year. Although the hack did not compromise the security of BEP20 LPOOL tokens, it prevented token holders from moving their tokens to the ERC20 standard for trading on platforms like KuCoin. LPOOL token will be re-issued on an entirely new EVM compatible chain, and all ERC-20 and BEP-20 tokens (on the ETH and BSC networks) will be deprecated. The platform's infrastructure is being upgraded as well to be compatible with the new chain.

$LPOOL will be migrating to the Arbitrum network, an ETH L2 that has shown speed, security, low fees, and compatibility with EVM, as well as a growing community and developer mindshare. We believe Arbitrum is a great choice to support our efforts for Launchpool in the bull market.

All LPOOL holders, regardless of whether they hold tokens on the ETH or BSC chains, must re-KYC as a mandatory step to receive their 1:1 token swap. A snapshot will be taken on both chains to facilitate this process. Please take note of our socials where we will announce when we take the snapshot and when we close the KYC window.

Users who have previously completed KYC will need to re-KYC, providing details of the wallet and chains (BSC/ETH or both) where they hold LPOOL tokens.

Failing to complete KYC will result in the inability to participate in the token migration process.

Yes, but ensure the wallet supports the Arbitrum network or transfer your tokens to a compatible wallet before proceeding.

If you hold LPOOL on a centralised exchange wallet, the exchange will handle the swap process for you. However, most CEXs trading $LPOOL only support the $LPOOL erc20 token.

Holders with LPOOL in wallets like Metamask must provide their wallet address as part of the re-KYC process.

Yes. If you prefer not to KYC the wallet currently holding your LPOOL tokens, you can move your tokens to a new wallet on both BSC/ETH (wallet addresses on ETH & BSC networks are the same) before re-KYCing. Just ensure you provide the "new wallet" that holds your LPOOL during the KYC process.

If your wallet has been compromised, please file a support ticket on Discord. While we cannot guarantee acceptance of a new wallet without another KYC process, we will endeavour to find a solution.

New users who purchased LPOOL on an exchange (CEX/DEX) before the snapshot must ensure their tokens are in a wallet supporting the Arbitrum network for the new $LPOOL token.

If you received LPOOL through farming rewards (e.g., Unizen), please open a support ticket on Discord. Such activities have not coordinated beforehand with the Launchpool Core Team and are not supported OR endorsed by us. We cannot guarantee a swap for you.

KYC is open for 14 days (2 weeks, including weekends). A snapshot will be taken and announced on our social media channels, including Twitter, Telegram, and Discord.

The KYC window for the token swap process is open for 14 days, including weekends. We will announce a snapshot date across our social media channels, such as Twitter, Telegram, and Discord. Following the snapshot, your new LPOOL tokens will be airdropped on the Arbitrum network if you've passed KYC. Please ensure that you have configured the Arbitrum network on your Metamask and have added the new LPOOL token smart contract address to your wallet to receive your tokens.

If you miss the 14-day KYC window, you risk being unable to participate in the token swap process. It's crucial to complete your KYC within the allocated time frame to ensure you receive the new LPOOL tokens on the Arbitrum network. We strongly advise keeping an eye on our social media announcements and acting promptly to avoid any inconvenience. We reserve the right to, at our sole discretion, offer a concession by extending the KYC period for up to 30 days for individuals whose LPOOL tokens are locked or staked in one of our retired pools from 2021. If this applies to you, please open a Support Ticket on Discord.

No, Launchpool was not directly affected by the Anyswap bridge hack. The incident is a thing of the past and has not impacted the security or functionality of our LPOOL tokens. Our token migration process is a proactive measure to ensure the continued safety and liquidity of our tokens.

The LPOOL pool offered as rewards through Unizen was not coordinated directly with Launchpool. There was a partnership in place initially with Unizen on launchpad deal-flow, however their business model pivoted and doesn’t satisfy conditions anymore. Such activities were NOT coordinated beforehand, with the Launchpool Core Team and are not supported or endorsed by us. We CANNOT guarantee a swap for you.

If your LPOOL tokens are held on a CEX, the exchange will manage the swap process on your behalf. Withdrawals, deposits, and trading of LPOOL will be temporarily halted until the migration to the new token on the Arbitrum network is complete. This ensures a smooth transition with minimal action required on your part. Please take note that CEX’s such as KuCoin only trade the $LPOOL erc-20 token, and cannot offer swap support for any BEP-20 (BSC) $LPOOL tokens.

No, the tokenomics of LPOOL will remain unchanged. The migration process is designed to be seamless, with 1 LPOOL on the ERC/BEP20 standards being equivalent to 1 LPOOL on Arbitrum. Our commitment to maintaining the integrity of our token's economic model remains firm.

With the migration to Arbitrum, LPOOL will have a new smart contract address, but the ticker remains the same. It's crucial to update your wallets with the new LPOOL smart contract address to ensure you can receive and manage your tokens on the new network. Detailed instructions and the new smart contract address will be provided on our official channels to facilitate a smooth transition.

If you have LPOOL tokens in multiple wallets, please consolidate them into a single wallet before starting the KYC process. Due to our policy, you can only KYC one wallet. By moving all your LPOOL tokens to one MetaMask wallet, regardless of the network, you ensure that you can participate in the token swap with all your holdings. Remember, it's crucial to complete this consolidation before submitting your KYC, as you will not have the opportunity to KYC additional wallets.