Bitrue Suspends SAITAMA Activities Due to V2 Migration

All trading activities in SAITAMA are expected to be suspended on Bitrue on June 7th. The exchange announced the suspension of support for V2 migration of SAITAMA tokens. All SAITAMA trading pairs will be removed from the listings at 4:00 UTC, along with deposits and withdrawals.

SAITAMA recently decided to migrate to a brand new V2 network to solve all the problems of the current network. The main reason for the migration is SAITAMA’s market capitalization, which once valued in the billions has dropped to the millions in the past few months.

Yes, current network contracts and tokenomics are inflexible, greatly affecting fund management. According to reports, the SAITAMA network does not have a marketing wallet and has to sell its reserve tokens even to accumulate marketing funds.

Additionally, the rigidity of the old network also affected transparency, and the community had no way of knowing what the funds were being used for. This turns into a community trust issue and needs to be addressed if the ecosystem hopes to get back on track.

The meme-coin team therefore decided to migrate to a new flexible and transparent network to provide solutions to all the problems they are facing. The migration will also introduce new tokenomics for the Saitama Inu ecosystem, and it will reduce the supply to drive up the price of new SAITAMA tokens.

According to the new tokenomics V2, the tax on SAITAMA tokens will be 4%. Of which 1% goes to the burn wallet as a deflationary measure, and 1% will be offered to users as pool rewards. The remaining 2% will be levied as a sustainability tax.

Crypto exchange Bitrue has announced the suspension of all SAITAMA-based activities during the migration to support the upgrade. The team also said that any deposits during the migration will be irretrievably lost. All activities will be restored after the migration is complete.

Bitrue will receive the new SAITAMA tokens from the meme-coin team to distribute to users. There are no additional requirements to receive the new tokens. They will be sent directly to the accounts of former SAITAMA token holders, and the amount will be calculated using a specific formula.

Apart from the new tokenomics, the V2 upgrade will also bring several other improvements, including flexibility contracts. These additions are made to enhance the convenience of the network in the future.

Many have positively endorsed Saitama Inu’s decision to migrate to a V2 network. They believe it becomes a symbol of respect the team has for its community.

Back To Top