Stratis Token Migration: What it Means for Ledger Users

11/05/2020 | Blog posts

stratis token migration

Context

Stratis announced mid-October that STRAT tokens will be swapped with STRAX tokens. This migration is due to a change of blockchain. As explained on the Stratis website, the STRAT blockchain will be replaced and a new STRAX blockchain will be launched.

Swap window

As announced by the Stratis team, “the STRAX Token Swap window will be from 15th October 2020 until 9 AM GMT on 12th November 2020. […] A further participation window will be available until 5PM GMT on the 15th October 2021. […] The remaining Token Balance within the Token Swap Fund will be irreversibly burned on the 16th October 2021.

What does this mean for Ledger users who own STRAT tokens?

In line with the recommendations from the Stratis website, we encourage our users to migrate their STRAT tokens to STRAX tokens before 12th November 2020 by following the steps detailed here.

Stratis token migration is not supported on Ledger Live. As indicated by the Stratis team, this migration has to be done using the Stratis wallets that you can download from this page. Please note that these wallets do not support the Ledger Nano so your Stratis funds may be at risk.

What will happen after 12th November 2020?

Ledger will maintain both the Stratis Nano Application and the corresponding support of the STRAT blockchain on Ledger Live for one year until 15th October 2021, so that you can still swap your tokens if you miss the first participation window. However, Ledger cannot guarantee that the STRAT blockchain will remain active and that the Stratis service will continue to operate between November 2020 and October 2021. Moreover, the process for swapping tokens after 12th November 2020 has not yet been shared by the Stratis team.

After 15th October 2021, Ledger will stop supporting STRAT tokens.

Since this is a recent blockchain change, Ledger does not yet support STRAX tokens. In addition, Ledger has not yet set a deadline for the integration of the STRAX blockchain into its services. However, the Ledger team looks forward to working with the Stratis team on enabling a connection between Ledger Nano and the STRAX wallet.

If you have any questions related to the Stratis token migration, please contact the Stratis team directly.

If you have any questions regarding Ledger’s support of Stratis tokens, please contact the Ledger Support team.