Within the coming weeks, Qoin will move (“migrate”) from its private enterprise blockchain over to Base, a public Ethereum Layer 2 blockchain. Existing Qoin balances will be bridged onto Base by their owners so that Qoin may over time become interoperable with millions of other users in the Base ecosystem.
Decentralization & Sustainability: Public Layer 2 networks like Base remove single-point-of-failure risks and foster long-term community governance.
Lower Fees & Scaling: Base leverages Optimism’s SuperChain for fast, low-cost transaction.
Ecosystem Access: Migration opens Qoin to bridges across the wider Ethereum ecosystem.
If you use any wallet other than the Opteq App, you will need to pay gas fees. However, the Foundation has partnered with Opteq to provide gas-free functionality and assist with a smooth migration process. For users who use Opteq, no gas fees will be charged for normal Qoin transactions on Base for at least 3 years.
The existing Qoin App will guide you step by step to complete your migration. A summary of these steps are: – authorize the migration of your Qoin, – create your new self-custodial wallet, – affirm your wallet address, and amount of Qoin to be migrated, – continue to make Qoin transactions from your new wallet.
Any wallet compatible with Base will work.
Soon after the migration period, the legacy enterprise blockchain and wallet will be decommissioned. You must switch to a Base-compatible wallet to make future transactions.
The maximum supply of Qoin is capped at the current total supply of 394.8 million, with approximately 337.1 million Qoin in circulation. After migration your Qoin balance will be the same number of tokens on Base as you held before migration.
Previously the fair value of each Qoin, for purposes of exchanging Qoin for goods and services within the community, was determined by an algorithm. The algorithm was described in the original Whitepaper. Due to further decentralization and reviewing the blockchain data of the past five years, the Qoin Foundation has resolved to replace the algorithm with a market price discovery mechanism allowing the market to adjust gradually and maintaining an orderly discovery process until such time that adequate market pricing becomes available.
A service provider (Opteq App) has agreed to sponsor the gas fees for transactions made through their App on the Base blockchain for a period of at least 3 years from 30 May 2025 allowing merchants and consumers to transact at zero cost.
Governance as well as reserve and incentive management has been transferred from the Qoin Association to the newly formed Qoin Foundation, an independent Cayman Islands–incorporated entity. The first director of the Qoin Foundation is Paul Parker, an experienced lawyer and professional director based in the Cayman Islands.
Base supports multiple bridges to Ethereum mainnet and other Layer 2 networks.
If you require any assistance or report issues please email: [email protected]
Yes. During migration you create an additional supported smart wallet on Base. When migrated, you can send Qoin to any Base-compatible address (e.g. MetaMask, Coinbase Wallet, Kraken Wallet etc via WalletConnect).
Any Base-compatible wallet provider lets you create new wallets. After migration you can install or create wallets directly in MetaMask, Coinbase Wallet, Rainbow, etc, following their onboarding flows.
The legacy Qoin Block Explorer will be discontinued with the enterprise chain (shortly after the migration period). It is important to export or save your previous transactions prior to the migration commencing.
Yes, Basescan is the Block Explorer and Analytics Platform for Base, and can be visited at: basescan.org
You can still migrate using the Qoin App for up to six months after the migration date. However, if you want to transact with others after this date you will need to migrate.
The directory of businesses will continue to be available online at shop.qoin.world. The Qoin Foundation will engage and collaborate with third-party marketplace operators who intend to include Qoin in their ecosystems.
Post-migration, you simply share your Base wallet address. Users send Qoin over Base just like any other token transfer.
It remains Qoin (ticker unchanged). Only the settlement layer changes—from the enterprise chain to Base.
Listing on an exchange is not automatic. Central and decentralised exchanges have different listing rules and requirements. Listing applications will be handled by the Foundation where relevant or required.
If you hold Wrapped Qoin on Ethereum, you can either keep it there or “unwrap” it to Base within six months. For assistance, contact: [email protected]
After migration, the legacy wallet component is discontinued—but you should keep your 12-word seed phrase safe. You’ll need it to restore or access any unmigrated Qoin during the six-month migration window. Once you’ve completed migration, your active Qoin operates on the new Base blockchain.
QOIN is a decentralized digital currency for everyday purchases, letting people and businesses swap value instantly—no banks, no middlemen. Join a global community of buyers and sellers united by a single goal: shared prosperity. Inside the network, Qoin’s purchasing power is set by its fair value—the price participating users agree to accept for real goods and services.
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