According to ChainCatcher, pairs trading platform Pear said its PEAR token migration portal will open on Oct. 12. Users will be able to swap PEAR on Arbitrum for a new token on HyperEVM at a 1:1 ratio within the Pear app.
The migration is one-way. After a user completes it, the old token will be locked and cannot be moved back to Arbitrum. Pear said users should keep a small amount of ETH on Arbitrum to pay for gas and cross-chain fees.
Once migrated, the token will be transferable between HyperEVM and Hyperliquid spot. Liquidity will be launched on both venues afterward.
Pear said stPEAR holders do not need to do anything, as staking will be rebuilt automatically on HyperEVM. Holders whose tokens are still in a vesting period will be able to claim and migrate them after unlock. The portal will stay open until Sept. 28, 2027, and Pear said there will also be a buffer period.
The team also warned that the PEAR currently listed on Hyperliquid spot is not affiliated with the official project. Users can migrate only through the official Pear website and should trust only contract addresses published through official channels.
PEAR began trading on Sept. 27, 2024. Pear said the platform has expanded from a pairs trading terminal into an institutional trading desk, AI trading agents, and a vault product, with cumulative trading volume above $2 billion and cumulative fees totaling $1.3 million.
In January this year, token holders passed PIP-3 with support above 99%. Under the proposal, 70% of Pear’s total revenue is allocated to buying back and burning PEAR and supporting liquidity, while 30% goes to the team.