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Migration

Swapping PLENTY and WRAP for PLY
With the advent of the new plenty.network that comprises improved Plenty DEX and EVM-bridge (taken over from wrap protocol), existing PLENTY and WRAP holders can swap their tokens for PLY.
A total of 400 million PLY or 40% of the total supply is allocated for this initial migration - 32% for PLENTY holders and 8% for WRAP holders.

Mechanics of Migration

The dates and exchange rates mentioned below are dummy values provisioned for the understanding of the readers. These shall be replaced with actual values upon mainnet launch.
The migration is a 2-step process involving an initial exchange, followed by the vesting of tokens received. The exchange starts on 24th November 2022 with the swap rates being as follows:
1 PLENTY = 8.5 PLY and 1 WRAP = 5 PLY
50% of the PLY you receive from the exchange will be available immediately and the remaining 50% shall be vested linearly up to 23rd November 2024. The vested tokens get unlocked by the second, but claims can be made only once every 24 hours.
There is no end date for migrating to PLY. You may swap your tokens at will once the exchange begins. Refer to the scenarios listed below to understand how the migration would work for different time frames.
Of the 400 million tokens allocated for migration, 200 million tokens would be available on the day the exchange starts. The remaining 200 million tokens would keep coming into circulation up to and beyond 23rd November 2024.

Migration Scenarios

Migrate on the day exchange starts
Migrate a few days after the exchange starts, but before the vesting ends
Migrate after the end of vesting
You can make multiple migrations from the same Tezos address. The vested tokens simply add up.