TL;DR
- ShareToken (SHR) is migrating to a new, optimised ERC-20 smart contract on Monday September 29th 12:00pm GMT +7
- Minimum action is required
For users holding their tokens on exchanges the Exchange and ShareRing will handle the migration automatically.For users holding their tokens in a custodial wallet, the migration will be triggered once the user completes a transfer of their SHR tokens (This includes a transfer of 0 SHR).
- Legacy ICO, presale, and reward logic has been removed, reducing gas costs and simplifying usability.
- The new contract enforces a fixed 6.74B max supply, all the tokens will be minted upfront to increase transparency and non-circulating tokens will be secured in locked wallets.
- Exchanges, CoinMarketCap, CoinGecko, and other data aggregators are updating to reflect accurate supply and contract details.
- Enhanced swap capabilities and improved staking integration strengthen SHR’s role at the core of the ShareRing ecosystem.
Why Migrate Now?
The original ShareToken contract, launched during the 2017–2018 ICO era, included features such as presale distributions, airdrop logic, bounty mechanisms, and reward locks. While appropriate at the time, these legacy components introduced unnecessary complexity, increasing transaction costs and limiting flexibility.
Every transfer, stake, or bridge involving SHR incurred inflated gas fees due to the size and complexity of the contract. This design no longer met the performance and cost-efficiency standards required by our growing network.
The Solution: A Clean-Slate Contract
We have deployed a new ERC-20 compliant ShareToken contract that is:
- Minimal and optimized: All redundant ICO and reward logic has been removed.
- Cost-efficient: Streamlined code reduces gas costs for transfers and staking.
- Transparent: Circulating and total supply figures are verifiable via API feeds for CoinMarketCap, CoinGecko, and other platforms.
- Future-ready: Simplified architecture enables new features, such as increased swap limits and flexible integration with exchanges.
Migration Process
The migration is designed to be seamless and secure:
- Locking the old contract – The legacy SHR contract will be paused and locked, preventing future transfer.
- Deploying the new contract – All 6.74 billion tokens were minted upfront, consistent with the original whitepaper. Tokens not yet in circulation are secured in locked wallets to prevent unauthorized minting.
- Automated migration – ShareRing is completing the rollout over several days, automatically mapping all wallet balances to the new contract.
- Optional manual migration – Users who wish to migrate instantly can do so by sending 0 SHR to their own wallet address using MetaMask or another compatible wallet. This transaction triggers the migration logic and reflects the updated balance.
Exchange and Data Aggregator Updates
We have coordinated with all major exchanges currently supporting SHR, including KuCoin, Gate.io, and BitMart. Each exchange will update its listing to the new contract. Trading may be paused briefly during this process at the discretion of the exchange, but user balances will remain unaffected.
In addition, CoinMarketCap, CoinGecko, and Etherscan are updating to reflect:
- Accurate circulating and maximum supply (6.74B)
- Updated contract metadata
- Real-time supply data via ShareRing’s public API
Enhanced Swap Capabilities
With the new contract, we have introduced expanded swap functionality:
- Automated swaps up to 1M SHR per transaction for KYC-verified accounts
- Per-transaction maximums increased to 5M SHR
- Planned removal of swap limits entirely in the coming months
These improvements simplify liquidity operations for larger holders and strengthen SHR’s role in the ShareRing ecosystem.
SHR Utility and Staking
ShareToken remains central to ShareRing’s network and products:
- Powering identity creation (DIDs, verifiable credentials)
- Fueling services such as eSIM purchases and upcoming Me modules
- Facilitating client integrations — enterprise partners pay ShareRing in fiat, and ShareRing executes buybacks of SHR from exchanges to cover tokenized utility
Holders can also stake SHR on ShareLedger to earn rewards from transaction activity. Validators and stakers benefit directly from network growth, making staking a critical part of the ecosystem.
Why This Migration Matters
This migration is more than a technical update — it is a foundational reset that ensures SHR is:
- Efficient: Lower costs, faster interactions.
- Transparent: Verifiable, fixed supply with live reporting.
- Future-proof: Ready to scale with ShareRing’s identity, payments, and service modules.
By removing legacy design constraints, we are positioning SHR for long-term growth and utility within a rapidly evolving digital identity and Web3 landscape.
Staying Informed
As always, all official updates will be communicated via:
- https://sharering.network/blog/
- Verified social media channels
- The official ShareRing Telegram group (admin posts only)
Ignore any third-party requests to send tokens for migration — these are scams. The migration is automatic.
