I’ll be the bearer of the bad news, it’s been out for a few hours now but not yet come up here…
Traxia (TMT), currently an ERC20 token, was planning to move to Cardano when possible but now is going to Binance Chain in the near future.
Traxia and its ecosystem was the first investment Cardano made through its investment arm emurgo (EMURGO | Supporting Adoption Of Cardano And Blockchain Tech). To be upfront, we still believe that the blockchain developed by the team of IOHK will be one of the leading chains at one point in time. Like Tether (USDT) being issued on multiple blockchains (Omni, Ethereum, EOS), we believe in interoperability between chains and see great opportunity in such an agnostic approach.
For more information, the best source at the moment is probably the Telegram group: @traxiafoundation There’s an official pdf pinned there.
If it’s not in your own wallet you need to move it within 24 hours or so, it needs to be in a regular ethereum wallet when the snapshot is taken. Later you will get the corresponding amount of the new TM2 token. I very highly recommend joining the official TG group.
Current value
If you invested in Traxia during their ICO, you’ve lost a lot of money. They simply used the news of “the partnership” to shill their token. If you were around during their ICO you’ll remember me urging you to simply invest in Ada than their token (when their value was almost the same!).
You don’t lose until you sell. I’m still holding. I’ve bought enough since the ICO to bring the average price down substantially. I still have confidence in the team, as do many others.
I am actually quite disappointed to hear that Traxia will no longer be migrating to Cardano and has instead chosen to proceed with Binance. Frankly, this should be disappointing to all Cardano fans, regardless of your views about Traxia.
