Token contract migration involves moving an existing digital asset from one smart contract to a new, updated smart contract, often on the same or a different blockchain. This process is typically undertaken to upgrade token functionalities, fix vulnerabilities, improve efficiency, or transition to a new network. Holders usually exchange their old tokens for new ones at a predetermined ratio. It represents a significant protocol modification.
Context
News often covers token contract migrations when projects are undergoing major architectural changes or responding to critical security findings. These events require careful planning and communication to ensure a smooth transition for token holders and avoid market disruption. The success of a migration is a key indicator of a project’s technical competence and its ability to adapt to evolving ecosystem requirements.
A critical delegate call vulnerability in the protocol's administrative multisig allowed arbitrary code execution, leading to unauthorized token minting.
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