SmartBCH Symbol Change Upgrade and Total Supply Reduce

At present, the SmartBCH Alliance is dedicated to maintaining a 1:1 peg between smartBCH’s Native Token and the main chain BCH. This peg is primarily upheld by the benevolence of certain sBCH holders who opt not to sell their assets. Nevertheless, the assets held by the Alliance fall short of fully meeting the withdrawal requirements of all smartBCH's native token holders looking to transfer their funds to the main chain. Therefore, the Native Token on smartBCH is NOT a homogeneous asset of BCH. Given this reality, we believe it's crucial to transparently communicate potential risks to smartBCH users.

As a result, the smartBCH chain will undergo an upgrade to change the symbol of the native token from "BCH" to "SBCH" through a hard fork upgrade. Simultaneously, its name will transition from "BCH" to "SmartBCH". The total supply of SmartBCH is 68,313.420483504311319128 SBCH, of which 573.20 SBCH already burned. The balance of the bridging account holding more than 20 million sBCH will be cleared permanently.

For more detailed information, please refer to https://www.smartscout.cash.