Venom Migrates to Next-Generation Protocol: FAQ

The voting on the Venom DAO migration proposal has now concluded and we are happy to welcome you to the new era of Venom.

Voting Results (VIP-003)

Proposal: Migration to the Next-Generation Network Architecture

Link: https://dao.venom.network/governance/proposals/3 Results:

The proposal has passed. Thank you to everyone who participated in this important decision.

What This Decision Means for the Network

This approval marks the beginning of Venom’s transition to a new, high-performance protocol designed to take the network to the next level. After a full year of rigorous testnet validation, the new architecture is ready for deployment. Key improvements include:

• Up to 150,000 TPS
• Sub-second finality
• Advanced dynamic sharding
• Improved Proof-of-Stake consensus
• Full backward compatibility with existing smart contracts, addresses, and ecosystem products

The migration will be 1:1 ($VENOM → new $VENOM) with no changes to token supply or vesting schedules. The old mainnet will remain operational for 6 months after the launch to ensure a smooth transition.

FAQ

1. Where can I find all the information about the migration?

You can find all the most up-to-date information on the migration and everything that is going on with the upgrade at: **CLICK** https://venom.foundation/migration. Additionally, please follow our socials to get all the latest updates on what is happening. Likewise, we are always here for help if you need it, just reach out to us.

2. What will happen to Venom Wallet?

Venom Wallet will no longer be supported after the migration. The new network will use SparX — a modern, improved multichain wallet. SparX offers a better user experience, enhanced security, and support for multiple networks. You can learn more and download SparX here: https://sparxwallet.com/download

3. Will my wallet address remain the same?

Yes. The address format does not change. Venom uses the Actor model with TVM-based addresses, and the new mainnet preserves this same addressing scheme. Your existing seed phrase remains fully valid. You will be able to access your new mainnet account using the same seed phrase in SparX.

4. Can I use a hardware wallet (Ledger)?

Ledger support for the new mainnet is currently undergoing an upgrade on Ledger’s side. We are working with the Ledger team to ensure full compatibility as soon as possible.

If you store your $VENOM on a Ledger device, you will still be able to migrate by importing your seed phrase into SparX Wallet temporarily, completing the migration, and then securing your tokens again once Ledger support is ready.

Never share your seed phrase with anyone. Only enter it into the official SparX Wallet application downloaded from the official website.

We will announce Ledger support for the new network as soon as it is available.

5. What about my tokens on exchanges (MEXC, Gate.io, KuCoin)?

We are coordinating directly with all listed exchanges to ensure a smooth transition. Once an exchange completes its migration, you will be able to deposit and withdraw $VENOM on the new mainnet the same as before. During the transition period, trading may continue on the old network depending on the exchange’s timeline.

If you prefer to have full control of your tokens during this process, you can withdraw from the exchange to your own wallet and migrate manually through the official swap portal. This is entirely your choice; both paths lead to the same result.

6. What about Web3World and ChainConnect? Will they still work on the old and new mainnet?

Web3World and ChainConnect are dApps built on Venom. After the migration, these dApps will move to the new mainnet. The old network will only remain active to complete token migrations, after which it will be decommissioned. dApps on the old network will stop functioning.

Developers must update their smart contracts for the new mainnet. We recommend closing any open positions in these dApps before completing your migration.

7. What about bridged tokens on other chains (Ethereum, BSC)?

Tokens bridged to external networks (such as WVENOM on Ethereum) will continue to operate as before. The bridge infrastructure is being migrated to the new mainnet and will reconnect to the same external networks.

If you hold bridged tokens on another chain, no action is required from you. Your tokens will remain accessible and functional. The bridge relinking happens at the protocol level.

8. What about stVENOM? Should we unstake before migration?

Yes. You must unstake your stVENOM back to VENOM first, then migrate the VENOM through the official migration portal (1:1 swap). The swap portal will be available soon, all of the latest info pertaining to swaps can be found here: venom.foundation/migration. After receiving your new $VENOM, you can restake on the new staking contract once it becomes available. During the migration period, the unstaking time has been reduced to 24 hours to make the process easier. stVENOM cannot be migrated directly because it is a wrapped asset tied to staking contracts.

8. What will happen to WVENOM (ERC-20) on Ethereum?

WVENOM is a wrapped version of $VENOM on Ethereum. If you hold WVENOM, you must unwrap it back to native $VENOM before migrating. The migration portal only accepts native $VENOM from the Venom network — it does not process WVENOM directly.

After unwrapping, proceed with the standard migration steps through the swap portal. The bridge infrastructure on the new mainnet will continue supporting cross-chain transfers, so wrapped tokens will function the same as before once the new network is live.

9. What if I miss the 6-month migration window?

The old mainnet will remain operational for 6 months after the new mainnet launches. Once the swap period is open, it will be available 24/7, so migrate at your own pace. We strongly recommend not waiting until the final days.

After the migration window closes, the swap portal will stop accepting transfer requests. Tokens that have not been migrated will remain locked in the bridge smart contract on the old network. At that point, the old network will enter decommission and recovery will not be possible through standard means.

If you miss the window, contact the Venom support team through official Discord or Telegram. We will evaluate recovery requests on a case-by-case basis, but there is no guarantee.

10. What about existing NFTs and other tokens (Dragonz, MVT, etc.) on the old chain?

NFTs and third-party tokens will not migrate automatically. Each project team must deploy new contracts on the new mainnet and provide their own migration process. Users will need to follow instructions from each individual project. The Venom Foundation only provides the infrastructure for migrating native $VENOM and $USDT. Dragonz and MVT have already confirmed they will support migration.

11. Will transaction history from the old network be preserved? Will it count for future airdrops/allocations?

All transaction history from the old mainnet will be preserved in a dedicated block explorer for viewing. The new mainnet will start with a clean state due to its new architecture. However, the Venom Foundation will use old explorer data for any future airdrops or allocations. Your on-chain activity is safe and will be taken into account.

You can follow all activity at the new explorer: https://new.venomscan.com/

12. Will gas costs change on the new network?

No. Gas costs on the new mainnet will remain comparable to the current network. The upgraded protocol improves throughput and finality without changing the fee structure for everyday transactions.