Metal DAO v1(MTL) Smart Contract Upgrade

Metal L2 is performing a smart contract upgrade on June 24 and want to ensure that the transition is seamless for all wallets holding the Metal DAO $MTL token.

• Snapshot Date: Jun 24, 2024 11:00 UTC+8 // 20:00 PST
• Airdrop Date: Jun 26, 2024 11:00 UTC+8 // 20:00 PST

Introduction to Metal L2

The Metal L2 (MTL) mainnet was deployed on March 29th as an Ethereum scaling solution designed to be interoperable with the Metallicus Digital Banking Network, bridging a network of traditional financial institutions to the Optimism Superchain. This is made possible by the seamless interoperability with Metal Blockchain, the foundational layer 0 also deployed by Metallicus. With this integration, Metallicus is bringing a suite of BSA-compliant (Bank Secrecy Act) blockchain solutions to the Superchain, including their fiat on-ramp with Metal Pay, decentralized on-chain identity (DID) with Metal Identity, a digital WebAuthentication (Webauthn) wallet with WebAuth.com, and a reserve-backed stablecoin index with Metal Dollar (XMD).

Metal L2 will be performing its smart contract upgrade and migration to the Metal L2 mainnet on June 24th at 11:00 UTC+8 // 20:00 PST. At this time, a snapshot will be taken of the Ethereum blockchain for all MTL tokens originating from contract (0xF433089366899D83a9f26A773D59ec7eCF30355e).

An airdrop will occur on the Metal L2 mainnet on June 26th at 11:00 UTC+8 // 20:00 PST, at which point the airdrop for the upgraded MTL token, originating from contract (0xBCFc435d8F276585f6431Fc1b9EE9A850B5C00A9), will commence.

If you are using a supported non-custodial wallet, you can simply switch networks after the airdrop, and you will see your MTL balance on the Metal L2 mainnet. The ratio from MTL v1 token to MTL v2 token is 1:1 from Ethereum mainnet to Metal L2.

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