7 Big News Series — We are switching to BNB Chain (BSC)
Dear community, we have great news to announce today! As we have collected feedback from the community about high gas fees in the current system, we have decided to switch to BNB Chain (BSC), which will be completed within April. At the moment, we are going through the smart contract audit and exercising final checks on the new system.
The updated token smart contracts are going to allow our users to enjoy the borderless DeFi and DEX ecosystem with low transaction fees, along with many technical improvements that will enhance user experience. In addition to that, all associated LABS platforms will also migrate to Binance Smart Chain which will include the crowdfunding & LABS WIN platform.
While the token migration process will include updating all existing smart contracts for each of our two platforms, the platforms will enter a brief maintenance period at the below dates and times mentioned. Please be assured that all users who have invested will not be affected.
“In order to encourage our token utility, community usage and adoption, we are going to migrate our token from Ethereum to BSC, the BNB Chain so that transaction fees will be reduced,” said Yuen Wong, CEO of LABS Group. “This is because a lot of users gave feedback to us and said that each crowdfunding deal cost them too much to transact. We heard from you and we are making some new changes to the platforms.”
“Sooner or later we will make it into a multi chain platform, the ultimate destination we are aiming at,” said Yuen Wong. “To show our commitment, the team has decided to delay the team token release by a further twelve months. This shows that we are into this project long term and we will pledge our commitments into this project.”
The BNB switch will be happening in April, so stay tuned for more details. We will release the updates on Twitter. Follow us!
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About LABS Group
LABS Group Limited (https://labsgroup.io), the world’s first end to end Blockchain powered real estate digital investment platform that provides access to fractionalized property and business ownership. It is taking a proactive role in spearheading the Esports hotel business, capitalising on current GameFi and Metaverse trends.
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