Key Notes

Key Notes:

Development team establishes a 10-day process, with a 3-day notice period for holders to complete token conversion.Previous token migrations to Solana, like Pacmoon and Cheems, have shown significant price increases post-transition.Despite current underperformance, Solana’s high-speed infrastructure could enhance the token’s utility and value.

Freya (FREYA), an in-game utility token for STARFALL CHRONICLES, is gearing up for significant changes. According to a post shared on X, the project’s team confirmed that the FREYA token will be migrating from Coinbase’s L2 blockchain Base to Solana.

The digital project will join the USDC $1.00 24h volatility: 0.0% Market cap: $57.09 B Vol. 24h: $3.76 B pool on Solana through a 1:1 token swap. This means the token’s total value will stay the same, but the move is expected to improve its use.

The Freya project team revealed that this transition will happen on the Stardust platform over 10 days. The first three days will serve as a notice phase, giving holders time to prepare, while the remaining seven days are dedicated to making the switch.

The sword is drawn. Freya declares war upon all who oppress her and her people.

Rises from the flames, she reborn as “Freya the Chainbreaker”, migrating to USDC pool on @solana, taking her daughter—backstabbed by schemers—under her wings, soaring to the skies where they belong👇 pic.twitter.com/X7RcxmZOMe

— Natsuki Freya (@TabinekoKIKI) February 17, 2025

The token holders will need to manually convert their FREYA coins on Base into FREYA on Solana themselves. Meanwhile, the project team will handle the token-swapping process, ensuring that all holders receive their new tokens at a 1:1 ratio.

The project revealed it will give holders clear instructions when it is time to transition. As noted by Coinspeaker, token migrations are often done to improve efficiency.

The move aims to make transactions faster and cheaper as the Solana network is known for its speed and low fees compared to Base. This transition could also attract new buyers and make the FREYA easier to use in the STARFALL CHRONICLES game.

The swap news came amid FREYA’s broad underperformance in the crypto market. The digital asset has dropped 9% in one day, 37% in one week, and 60% in one month.

It is also down by 93% from its All-Time High (ATH) of $0.1298, which it achieved on November 30. Investors hope its move to Solana will improve its value, but nothing is certain.

Notably, other tokens have seen price increases after similar moves. Last August, Coinspeaker reported that Pacmoon memecoin ported from the Ethereum ecosystem to Solana, leading to a massive price surge.

Similarly, Cheems (CHEEMS) moved from zkSync to the BNB Chain through a 1:1 token swap. Following the move, CHEEMS saw its price skyrocket by over 100% quickly.

While past performance does not guarantee future results, this trend provides a glimmer of hope for FREYA holders.

Aside from its congestion issue, developers and crypto projects are drawn to Solana because of its speed, low transaction costs, and scalability.

The Ethereum Layer-1 competitor offers a high-performance blockchain capable of processing up to 65,000 transactions per second

Even with past outages, Coinspeaker reported that Solana has become the third-largest blockchain in stablecoin supply, surpassing BNB Chain.

Last December, Coinspeaker noted the Layer 1 scaling solution led the blockchain world with the highest daily net inflows among the top 20 major blockchains.

Disclaimer: Coinspeaker is committed to providing unbiased and transparent reporting. This article aims to deliver accurate and timely information but should not be taken as financial or investment advice. Since market conditions can change rapidly, we encourage you to verify information on your own and consult with a professional before making any decisions based on this content.

Benjamin Godfrey is a blockchain enthusiast and journalist who relishes writing about the real life applications of blockchain technology and innovations to drive general acceptance and worldwide integration of the emerging technology. His desire to educate people about cryptocurrencies inspires his contributions to renowned blockchain media and sites.

Godfrey Benjamin on X

Marco T. Lanz on X