ShopNEXT has migrated to V2

Today marks a massive milestone in ShopNEXT history, as our team announces the swap of the current NEXT token. The new NEXT, a loyalty token, is the core of our ecosystem and expected to capture the values created better than ever.

Why do we need to swap?

Recently, we have partnered with Visa and repositioned ourselves as the first-ever Web3 Loyalty Platform. ShopNEXT is planning to release its new business model in December 2022. The roles of the NEXT token in the new business model are different. It transforms from an inflationary rewarding token to a deflationary loyalty token. To capture the change in business model, our tokenomics and smart contract have been substantially changed, which demands us to implement a token swap. The smart contract upgrades and token migration provide much more dynamic flexibility for our future growth and expansion.

What are the utilities of the new NEXT?

As a loyalty token, the main purpose of NEXT is to upgrade the membership. Besides, NEXT can be employed as the only currency on the ShopNEXT NFT marketplace. The most interesting part is that it will also be used to pay fees in ShopNEXT gameplay (for boosting and recharging NFT cards). These fees will be burned to make new NEXT a deflationary token. More details on token utilities can be found here.

Since new NEXT will not be used to reward anymore, we will limit its total supply to 100,000,000 tokens, which means holders can swap 10 old NEXT for 1 new NEXT.

Key takeaways:

• Swap time: TBA (in December 2022).
• Swap website: TBA (in December 2022). No rush as this website will remain permanent.
• Swap ratio: 10 old NEXT for 1 new NEXT
• Old NEXT total supply: 1,000,000,000
• New NEXT total supply: 100,000,000
• Old NEXT contract: 0x9809e877192B510D767a94ba39a79429219a5afB
• New NEXT contract: 0xa6C59dE838F1eeb82d86F5AF0750f5F656439999
• New NEXT blockchain: BSC
• NEXT to upgrade MOON in V2: new NEXT