Freya by Virtuals token to migrate from Base to Solana with 1:1 swap

Freya by Virtuals will migrate from Base to Solana with 1:1 token swap over the period of 10 days

Freya by Virtuals (FREYA), an in-game agent utility token in the game STARFALL CHRONICLES, is migrating from Base (BASE) to Solana (SOL), according to the project’s recent announcement on X. Specifically, FREYA will migrate to the USDC pool on Solana. The process is a 1:1 token swap, meaning no increase in market cap. The token’s USD value will remain the same at the Solana TGE, in which FREYA holders will receive new tokens from the team treasury. However, Freya holders will need to convert their FREYA on Base into FREYA on Solana manually.

This migration will only happen on the Stardust platform and take place over a 10-day period, with the first 3 days dedicated for notice and the next 7 days dedicated to the execution phase. Instructions will be provided during the execution phase. For now, Freya encouraged its holders to to spread the word.

Such migrations are often done to benefit from faster transaction speeds and lower gas fees, making transactions more efficient and affordable for users. Similarly, in Sep. 2024, Cheems (CHEEMS) moved from zkSync to the BNB (BNB) Chain, similarly carried out as a 1:1 token swap. After the migration, the token’s price surged by over 100%. in a short period.

Since the Cheems migration followed with a significant price surge for the CHEEMS token, this could offer some hope to the holders of FREYA, which currently trades in the bearish territory on daily (-9%), weekly (-37%), and monthly (-60%) timeframes, according to Coinmarketcap. It’s also down by 93% from its all-time high of $0.1298 set on Nov.30.