# V1 Token Migration

With the longevity of the project in mind, the team has decided to migrate our users from the initial token to a new token which allows for more scalability. Primary reasons for the migration include:

* To allow for the adjusting of the SwapAt threshold, which controls how much $OTSEA the contract needs to accumulate before a tax occurs
* To allow for adjustable taxes. The taxes will only be able to be lowered.
* To allow whitelisting of addresses for bypassing transfer taxes. This may include CEX listing addresses, and more immediately the OTSea platform contract as well as the new staking contract.
* An improved revenue distribution system using a new staking mechanism

### Who is Eligible?

Anyone who was holding $OTSEA at the time of the snapshot is eligible.

See telegram for snapshot details.

### How do I claim my new $OTSEA tokens?

Visit this [form](https://docs.google.com/forms/d/e/1FAIpQLSfucfg3qyVZx9p7mVwaaVrxWuqutUZL1LbyDtxtJ3pQ-mzIbA/viewform) and follow the steps. You'll be prompted to approve the contract address, then perform a contract interaction to send in your $OTSEA tokens in exchange for your new ones.

❗❗❗ DO NOT SELL YOUR ORIGINAL $OTSEA TOKENS ❗❗❗

The contract needs to receive your $OTSEA tokens in order to exchange them for the new ones. If you sell your tokens, even after the snapshot, you will be disqualified from receiving your migrated tokens.

### BEWARE OF FAKE MIGRATION SCAMS

Only get information or links from our official twitter or telegram. Be careful not to click any other external links.

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