Babb is Phasing Out Certain Services Related to the Recent OLD BAX Swap

October 17, 2022

🗓 October 17, 2022 

📍 London, United Kingdom  

⏰ 3 mins 

TL;DR 

BAX ICO (from 2018) & Fundraising – Phase Out: 31 December 2022 

⏭ Babb will PHASE OUT processing services from 2018’s OLD BAX ICO by 31 December 2022. Any BAX tokens and fundraising balances unclaimed after this date will be transferred and used for Babb platform development.  

👉🏽 To claim BAX from 2018 ICO: Contact [email protected] 

👉🏽 To claim fundraising balance: Login to Babb app, go to profile, tap My Campaigns, select completed campaign with balance, withdraw all funds from the campaign to your BAX wallet. 

BAX Swap – Phase Out: 30 June 2024 

⏭ OLD BAX to NEW BAX swap facility will remain available with free processing until 30 June 2023. Afterwards, Babb will charge a fee for processing BAX SWAP transactions.  

⏭ Babb will phase out processing of OLD BAX to NEW BAX services completely by 30 June 2024, and unclaimed balances will be used for Babb platform development. 
 
👉🏽 To request NEW BAX airdrop: Use https://baxswap.babbapp.com/  

Intro

Babb is phasing out OLD BAX token related operations as part of its recent app revamp activities to clear the way for the introduction of the Babb Banking Service in 2023 and to steam off some load off the app and reduce the administrative costs for record keeping.  

The first group of operations being phased out by end of 2022 for having a connection to the OLD BAX token is related to the unclaimed balances from the OLD BAX ICO in 2018.  

Second group being also phased out by end of 2022 is related to the Fundraising operations that were using the OLD BAX token in the past before the product was removed in the last app update.  

And the third and final group of OLD BAX token related operations to be phased out by end of June 2024 is related to any unclaimed balances from this year’s OLD BAX token swap.  Babb will send out reminders in due time to make sure that the community claims their BAX tokens before this deadline. 

Babb-Service Phase Out-BAX-GBPx-CurrencyXX

Phasing out the unclaimed OLD BAX processing from ICO. 

Babb will stop processing unclaimed ICO balances from 2018 as part of phasing out the OLD BAX operations from the app. Please contact [email protected] by 31 December 2022, 23:59:59 UTC to claim your tokens. Any claims submitted after this deadline will not be processed and the remaining available balance will be transferred and used for the development of Babb products. 

!!🚨 To claim your BAX tokens from the 2018 ICO, contact [email protected] 🚨!! 

Expiration date for fundraising related balances. 

Babb will expire and void all unclaimed fundraising balances as part of phasing out OLD BAX token operations.  If you’re a fundraiser with Babb, please login to the app and withdraw any existing campaign balance by 31 December 2022, 23:59:59 UTC. Any withdrawals after this deadline won’t be processed and the remaining campaign balances will be transferred and used for the development of Babb products. 

!!🚨 To claim your remaining fundraising balance 🚨!!  

1️⃣Login to the Babb app 2️⃣Go to profile 3️⃣Tap on My Campaigns 4️⃣Select completed campaign with balance 5️⃣Withdraw all funds from the campaign to your BAX wallet. 

Reminder for the BAX swap deadline. 

Babb will keep the OLD BAX to NEW BAX swap processing on the following portal (https://baxswap.babbapp.com/)  without any Processing Fee until 30 June 2023, 23:59:59 UTC. Before the deadline, in June 2023, Babb will announce the Processing Fee that will be applied on OLD BAX to NEW BAX swap transactions till the portal is phased out a year later on  30 June 2024, 23:59:59 UTC. Requests for airdrop will not be processed afterwards and unclaimed balances will be used for the development of Babb products. 

!!🚨 Please beware of scammers offering you OLD BAX to NEW BAX swap, and requiring you to transfer your assets to a wallet address. BABB will NEVER ask users to send funds in this manner 🚨!! 

Disclaimer: The risk of loss in trading or holding Digital Currencies and Cryptocurrencies can be substantial. As with any asset, the value of cryptocurrencies can go up or down (and can even drop to zero), may be very volatile and there can be a substantial risk that you lose money buying, selling, holding, or investing in digital currencies and cryptocurrencies. Cryptocurrency services are not currently regulated by the Financial Conduct Authority or any other regulator in the UK. You should carefully consider whether trading or holding digital currencies or cryptocurrencies is suitable for you in light of your own financial situation and attitude to risk, as evaluated by you carefully. We do not make any representations or recommendations regarding the advisability or otherwise of trading in digital currencies and cryptocurrencies or any particular transaction.