Covalent launches a proposal vote to migrate CQT tokens to CXT

Odaily News AI data infrastructure Covalent announced a governance proposal to migrate Covalent Networks existing token CQT to CXT. Voting on the proposal on Snapshot will end on July 11. The proposal proposes the following major changes: 1. Change the token code from CQT to CXT. 2. Migrate the staking contract from CQT to CXT on the Ethereum chain. 3. Migrate future governance on the Ethereum chain from CQT to CXT. 4. Distribute CXT to all current CQT holders. 5. Improve overall token liquidity. Covalent stated that all tokens are safe throughout the migration period. The CQT holdings of all token holders, operators, and delegators will be automatically migrated to CXT at a 1:1 ratio. CQT trading will stop at 00:00 UTC on July 9, and CXT trading will resume after the successful completion of the governance vote and migration.