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Important Update – April 2025

Important Update – April 2025

28 April 2025

[The contents of this communication are point-in-time statements. Please note the date of publication.]

Update on Migration to Base Blockchain

Further to the announcements and notifications provided on 14 February and 7 March 2025, we are pleased to provide further information regarding the three phased steps for the upcoming migration to the Base blockchain. The tech team has made significant progress between the service providers and compliance teams.

Phase One

The first phase of the migration will commence on Wednesday 30 April until 23 May 2025, and include the following steps:

  • Scan Qoin blockchain and wallet balances into migration database
  • Onboarding of new Qoin Foundation
  • Letter to the Qoin community from the director of the Qoin Foundation
  • Final live testing and validation
  • Publish new qoin.com website and updated white paper

Phase Two

The second phase of the migration should commence around 26 May until 29 May 2025 or shortly thereafter and include the following steps:

  • Release of the updated Qoin App migration version to the community.
  • Transfer of the internal accounts to the Base blockchain.
  • Community authorises and transfers their Qoin holdings to the Base blockchain. This step will include creating a new self-custodial wallet from a third party.
  • Community transfers any other blockchain tokens held in the Qoin Wallet App to a wallet of their choice.

Phase Three

The third phase of the migration should be on 30 May 2025 or shortly thereafter and include the following steps:

  • Discontinuance of the Qoin blockchain
  • Discontinuance of the Qoin wallet.

The Qoin App will guide you step by step through the migration process. The team at [email protected] will be there to provide any help you may need.

Note that although the Qoin blockchain and wallet will be discontinued on 30 May 2025 or shortly thereafter, the Qoin App will remain available for a further six months to enable you to migrate your Qoin holdings to the Base blockchain.

Remember to locate your 12- word seed-phrase which is required for you to perform the migration.

The dates provided in the timeline above are subject to best estimates from third party service providers and may change without notice.

Update on Class Action Settlement

The settlement hearing was held on 27 March 2025. The court has since ordered the litigation funder of the applicants to provide further submissions by 05 May 2025. Following the review of the submissions the court will provide a verdict on the settlement approval application and any common fund order. We will keep the community informed on any further developments as soon as we are able.

Trading and transactions

We thank the Qoin community for your ongoing support. February and March 2025 were both high volume months with over 17.4 million Qoin transacted across 5,036 transactions.

Regards

Qoin Team

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Please note that the Combined FSG & PDS has been updated, as at 21 May 2024.

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General Advice Warning: This information is of a general nature and does not take your specific objectives, needs or financial situation into consideration. Before acting on this advice you should consider how appropriate it is having regard to your personal circumstances. You should also read the relevant combined FSG and PDS before making any financial decisions. BPS Financial Pty Ltd ABN 99 604 899 381 corporate authorised representative no. 1279598 of Billzy Pty Ltd ABN 26 602 796 298 AFSL 494176.
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