📅 July 04, 2022
📍 London, United Kingdom
🕒 2 mins
TL;DR
BAX Swap – Phase Out 30 June 2024
⛔ In accordance with our previous communication, we are pleased to inform you that the OLD BAX to NEW BAX swap facility has been accessible without any processing fees until June 30, 2023. Starting today, 4 July 2023*, BABB introduced an administrative fee ranging from 100,000 BAX to 600,000 BAX for processing BAX SWAP transactions. Please find the detailed information below.
⚠️ Update: We are excited to share that the fee-free processing period has been extended until July 15, 2023, at 22:59:59 UTC. Please note that this is the final extension. ⚠️
⛔ By June 30, 2024, BABB will completely phase out the processing of OLD BAX to NEW BAX services. Any unclaimed balances remaining after this date will be utilized for the development and enhancement of the BABB platform.
⛔ To request a NEW BAX airdrop: Use https://baxswap.babbapp.com/
Intro
As part of our recent app revamp activities, BABB is currently in the process of phasing out all OLD BAX token-related operations. This step is taken to pave the way for the introduction of the BABB Banking Service and alleviate the load on the app, while also reducing administrative costs associated with record-keeping.
OLD BAX token-related operations will be phased out by the end of June 2024. OLD BAX to NEW BAX swap facility will be available with a 100,000 BAX to 600,000 BAX admin fee until 30 June 2024.
Please refer to the table below for the administrative fees associated with the OLD BAX to NEW BAX swap facility from July 2023 to June 2024:
Admin fees apply as of 4 July 2023 00:00:00 UTC* and it will be deducted from the BAX airdrop amount using the fee rate at the time of processing. If a wallet holds a BAX Swap amount equal to or less than the fees, it cannot be processed due to zero or negative remaining balance.
🔔 Update: Zero admin fee processing period has been extended until 15 July 2023 22:59:59 UTC. This is the final deadline, and the fees will apply afterwards. 🔔
Confused🤔? No need to worry! We have prepared three examples to help you gain a better understanding.
Please find them outlined below:
Reminder for the BAX swap deadline
BABB is pleased to announce that the OLD BAX to NEW BAX swap processing will remain available on the following portal (https://baxswap.babbapp.com/) until June 30, 2024, 23:59:59 UTC.
To ensure a smooth transition, we will send timely reminders for the OLD BAX to NEW BAX swap until the portal is phased out on June 30, 2024, 23:59:59 UTC. Please be aware that any requests for airdrops will not be processed beyond this date.
Additionally, it’s essential to note that unclaimed balances will be utilized for the development of BABB products.
Thank you for your cooperation, and we look forward to continuing our journey together. If you have any further questions, please don’t hesitate to reach out to our support team.
🚨🚨🚨!! 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 !! 🚨🚨🚨
Interested to learn more about BABB and BAX? 📣