Benji Bananas Launches BENJI Token to Recover Stolen Funds: An Overview of the Token Swap

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one year ago

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Benji Bananas, the popular free-to-play mobile adventure game developed by Animoca Brands, has introduced a new token called BENJI. This move comes as a response to a security breach that occurred in September, resulting in the theft of approximately 20% of the PRIMATE tokens, the game's original reward token. The team behind Benji Bananas has taken this step to recover stolen funds and ensure the long-term stability of the ecosystem.

Snapshot of PRIMATE Tokens and Token Swap

On July 17th, 12:30 am UTC, the developers conducted a snapshot of all PRIMATE tokens held in user wallets and liquidity pools. This snapshot will enable token holders to convert their PRIMATE tokens into BENJI tokens at a 1:1 ratio once the token swap function is officially released. During this process, users are advised not to transfer any PRIMATE in or out of their wallets unless they have staked PRIMATE or PRIMATE LP tokens on SushiSwap or ApeSwap, in which case they should first unstake and withdraw to the same wallet.

To successfully participate in the token conversion, it is crucial for holders to ensure that all of their PRIMATE tokens are moved to the Ethereum (ETH) network within the same wallet as the snapshot was taken. The token swap will solely occur on the Ethereum network, and users will have only one opportunity to convert their PRIMATE tokens to BENJI. For example, if a user possesses 100 PRIMATE on ETH and 200 PRIMATE on BSC but has only 200 PRIMATE on ETH in their wallet at the time of the swap, they will only receive 200 BENJI on Ethereum. Any unclaimed tokens will become available for claim once the token launch is completed. Additionally, those holding PRIMATE on centralized exchanges like Huobi will receive a corresponding amount of BENJI through an airdrop.

According to the developers, the new BENJI token will replace PRIMATE in all future gaming events within the broader Benji ecosystem. Despite the transition, the tokenomics, total supply, and circulation of BENJI will remain the same as the original PRIMATE token. Users are granted a grace period of one month to initiate the token swap, ensuring ample time for everyone to convert their PRIMATE tokens to BENJI.

Final Thought

The introduction of BENJI token marks a significant step in the recovery process after the security breach that affected PRIMATE tokens. Benji Bananas' development team is committed to safeguarding the ecosystem and ensuring a seamless transition for users through the token swap. With the assurance that BENJI will take on the role of PRIMATE in all future gaming events, the community can look forward to continuing their adventures in the beloved mobile game while being reassured about the security of their assets.