ArchLoot announces token migration and change of ticker in embracing new narratives and growth

ArchLoot is pleased to announce an important milestone in its journey as a pioneer in the crypto gaming industry. Always trying to put new narratives of blockchain gaming into actual work, we are constantly breaking barriers and testing new grounds. Now, in an attempt to generate additional growth and clear any potential impediments, we are thrilled to announce the migration of ArchLoot’s governance token, $ALT, to the Ethereum Ecosystem, and a switch of smart contract and ticker, to $AL.

The primary reason behind this switch is due to sharing the ticket name with another great project, ALTlayer. In fact, when we try to incorporate AI technology into ArchLoot gameplay, we generate tons of new interests and excitements, and thus, growth potentials. We do not want to cause any confusion or diversion of attention which are both very likely to hamper our growth and branding. Another reason is that we want to reach the Ethereum community, which is not only massive in terms of user-base, but also shares the same value of technical innovation and relentlessness. We are seeing a gusting eruption of Layer 2 chains built on Ethereum and we believe that these chains will bring a significant amount of traction and volume to ArchLoot. With an experienced team of skilled developers and a passionate community of gamers, we are confident that ArchLoot will establish itself as a leading player in the Web3+AI gaming space.

Important timelines of this migration

The ArchLoot team is here to announce the migration of $ALT to the ERC20 standard. Effective Wednesday, April 24th, 2024, at 12:00 PM UTC, we will commence a phased migration of on-chain $ALT to the Ethereum ERC20 standard. This process will involve the burning of equivalent original BEP20 tokens. By Tuesday, May 7, 2024, at 11:59 AM UTC, all $ALT ($AL in the future) will solely exist within the ERC20 address. Please note that BEP20 $ALT will no longer be supported and the total supply will not change.

Ways for current $ALT holders to implement this migration

For all holders with $ALT in centralized exchanges, we will take care of the switch for you and there is nothing that you need to do. We have contacted all listed centralized exchanges and will implement this migration gradually.

For onchain $ALT holders, we will be launching a token bridge on Friday, April 26, 2024 on Archloot official website shortly to enable this switch. Please stay connected with our social accounts.

For any questions or issues encountered during the switching process, please reach out to us at contact@archloot.com.

Our long-term visions

We believe this migration is crucial to unlocking the full potential of $ALT and ensuring a unimpeding experience for our users within the Ethereum ecosystem. We understand that this change may be an adjustment for some users, but we firmly believe it is in the best interest of the long-term growth of ArchLoot. We are excited to witness the connectivity of our native tokens through various systems, both fungible and non-fungible. This plan opens avenues for new collaboration methods, particularly in terms of ecosystem partnerships, and presents fresh possibilities for token holders.

Contract addresses

Please note there are only two official contract addresses of ArchLoot governance token as follows:

BEP-20 $ALT — 0x1BD55090B8878630E57FAE6eBd11FD61d16DFC9f

ERC-20 $AL — 0x046BAd07658f3B6cAd9A396CFcbC1243AF452ec1