Token migration is the phrase used when a token is moved from its original contract address to a new contract address. Two of the most common reasons why developers/token creators migrate their token to a new contract address are:
1. Upgrading their token
The growth within the Ethereum ecosystem is rapid and neverending with development of EIPs that introduce fixes, features and enhancements. As such, migrating their token allows the token creator to utilise these new standards and benefit from the feature they bring.
What Is EIP (Ethereum Improvement Proposals)?
Contrary to the previous point, a token migration is also done when the old contract address is found to have bugs or to have error in its source code.
Updating token information on Etherscan in the case of token migration
The general procedure is the same as normal token update process but with slight differences in some of the steps. Please refer below:
If you have not yet verified your ownership of the new contract address, please refer to our article How To Update The Information On Token Page and follow the steps until Step 6.
At the Token Update Application Form, under the Request Type, please select the option Token/Contract Migration from the dropdown menu.
In the Comments section, please provide us with the following:
- A link to an official announcement regarding the token migration that is published in any one of the token's official channels
- The old contract address or a link to the old contract's information page on our website
- The new contract address or a link to the new contract's information page on our website
Complete the rest of the form by providing the latest and relevant information related to the token/project into their respective fields.
In the case of a token migration, the pages for both the old and new contract addresses will be updated to reflect their migration. For an example of how these pages are updated, refer the links below:
Old contract address: https://etherscan.io/token/0xc66ea802717bfb9833400264dd12c2bceaa34a6d
New contract address: https://etherscan.io/token/0x9f8f72aa9304c8b593d555f12ef6589cc3a579a2