Golem token will be changed from GNT to ERC-20 standard GLM
Rhythm BlockBeats news, Golem, a blockchain-based lending and lending computing platform, announced that its tokens will migrate from the current Golem Network Token (GNT, the contract address is address 0x7DD9c5Cba05E151C895FDe1CF355C9A1D5DA6429) to the ERC-20 standard GLM. According to the official statement, the reason for this migration is that "the new Golem transaction framework is built on Ethereum's Layer 2, and this expansion method requires the token to be ERC-20."
According to the official announcement, there is no deadline for the migration process. The official recommends users to migrate through MetaMask or MyCrypto. The specific process can be found at: migrate. golem.network. Additionally, exchanges including Coinbase, Huobi, and OKEx already support the process.
It is understood that Golem is an old project from 2016-2017 and one of the early projects that carried out ICO through Ethereum One, when it raised $8.6 million in 29 minutes. After several years of development, its token price is now at $0.11 after hitting a peak of $1.32 in January 2018.
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