Coinbase said it will automatically convert users’ old KITE holdings into the newly issued token after the KITE project team halted token transfers on Ethereum on Aug. 5 and launched a replacement asset. According to the exchange’s notice, users do not need to take any manual steps to complete the migration. Coinbase said the transition will be handled directly on the platform. The exchange also noted that the new KITE token is already available for trading, deposits, and withdrawals on Coinbase. The update follows the project team’s decision to stop transfers of the previous Ethereum-based token and issue a new token instead.
Coinbase said in a notice that the KITE project team halted token transfers on Ethereum on Aug. 5 and issued a new token.
The exchange said it will automatically convert users’ old KITE holdings into the new token. Users do not need to complete any manual steps to migrate their assets.
Coinbase added that the new KITE token is now available on the platform for trading, deposits, and withdrawals.
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