Switcheo has announced it will halt the deposit and trading of Moonlight (LX) tokens, beginning at 12:00 pm (UTC +8) on Tuesday, September 24th.

In addition to supporting the LX token contract migration, Switcheo’s exchange will be down for planned maintenance and server upgrades, which will take place the same day from 2:00 pm to 4:00 pm (UTC +8). During the downtime, trading and other UI functionalities will be disabled.

Earlier in September, Moonlight announced plans to update its LX smart contract through the Contract.Migrate framework method. Moonlight opted to utilize the Contract.Migrate methodology to avoid conducting an airdrop based on a snapshot. It also allows token holders to maintain ownership and claim over LX tokens, and ensures the Moonlight founding team vesting period remain in tact.

Moonlight aims to commit the update to its Moonlight ICO template repository upon verification that all functions work correctly and the migration is successful.

LX Token Migration

At an undisclosed time before 8:00 am (UTC +8) on Wednesday, September 25th, Switcheo plans to withdraw all existing LX tokens to user wallets from its exchange automatically.

Then, at approximately 8:00 am (UTC +8), Moonlight will begin its LX smart contract migration.

Switcheo users do not need to take any action. LX tokens will automatically upgrade and appear in wallet balances upon completion of the migration.

Once the LX smart contract migration is complete, both Switcheo and Nash will have the ability to list the LX token on their non-custodial exchange platforms.

The full announcement can be found at the link below: