According to Odaily, blockchain data infrastructure company Covalent has announced that its governance proposal to change its token from CQT to CXT has been successfully approved and the related token migration has been completed. The proposal suggested several key changes: 1. Changing the token code from CQT to CXT. 2. Migrating the staking contract from CQT to CXT on the Ethereum chain. 3. Moving future governance on the Ethereum chain from CQT to CXT. 4. Distributing CXT to all current CQT holders. 5. Increasing the overall token liquidity.
Covalent assured that all tokens were safe throughout the migration period. All token holders, operators, and delegates' CQT holdings were automatically migrated to CXT at a 1:1 ratio. CQT trading stopped at UTC time on July 9th, and CXT trading resumed after the successful completion of the governance vote and migration.