Enjin Blockchain: A New Chapter in the World of NFTs
PM - DIY Investments
The Enjin ecosystem, known for its pioneering role in the NFT gaming world, is embarking on a transformative journey. The Enjin Blockchain marks not just a technical transition but a fresh chapter for its vast community of over 170,000 holders. The new blockchain promises enhanced features, swift transactions, reduced costs, and state-of-the-art NFT tools. However, as with any significant change, there are aspects that users need to be aware of.
SwissBorg's Stance on the Enjin (ENJ) Migration
Continued Support for ERC-20 ENJ: SwissBorg will continue to support the ERC-20 version of ENJ within its app. This support will remain until further notice is provided.
No Immediate Support for Enjin Blockchain: Due to limited or non-existent support by exchanges and custody providers, SwissBorg will not be offering support for the Enjin Blockchain for the time being.
Key Points about the ENJ Token Migration
ENJ, the native token of the Enjin Blockchain: ENJ (ERC-20) token was created in 2017 and laid the foundation for the world’s first NFT gaming ecosystem. ENJ is intended to be the native token of Enjin Blockchain through a migration process to the new blockchain.
Optional Migration: The migration of ENJ tokens to the Enjin Blockchain is optional at present. Users can choose whether or not they wish to migrate their tokens.
No Set Timeline for end of support for ENJ ERC-20: As of now, the Enjin project has not publicly announced a timeline for discontinuing support for the ERC-20 version of the ENJ token.
Irreversible Migration: It's crucial for users to understand that once the ENJ tokens are migrated to the Enjin Blockchain, they cannot be bridged back to the Ethereum main-net. This means that these tokens will not be depositable back into the SwissBorg app.
To learn more about how to migrate ENJ tokens to the Enjin Blockchain, please read here.
The migration of the ENJ token to the Enjin Blockchain is a significant move in the crypto and NFT space. While it promises advanced features and enhanced user experience, it's essential for users to be well-informed and make decisions based on their individual preferences and requirements. As always, staying updated and doing thorough research is the key to navigating the ever-evolving world of blockchain and cryptocurrencies.
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