# Migration Process

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Want to see if your community is a fit? -> [Token Migration Questionnaire](https://tally.so/r/nrKY4o)

Ready to submit token specifics? -> [Token Metadata Form](https://docs.google.com/forms/d/e/1FAIpQLSfpd-FAwtbxao3ZMIlX6PxR_IszdYImrLkYZTRUJe4cmymtCA/viewform?usp=sf_link)
{% endhint %}

1. <mark style="color:orange;">**Intake:**</mark>
   * Community onboarded.
2. <mark style="color:orange;">**Launch Parameters Set:**</mark>
   1. Migration date & duration chosen.
   2. Pre-sale raise amount & price ($SOL) selected.
   3. Treasury allocation selected.

      > **Max dilution\* rates:**
      >
      > * <$1m FDMC: 15% (7.5% presale, 5.5% Treasury 2% DAO Fee)
      > * <$5m FDMC: 12% (6% presale, 4.5% Treasury 1.5% DAO Fee)
      > * \>$5m FDMC: 10% (5% presale, 4% Treasury 1% DAO Fee)
      >
      > *\*Maximum inflation is based on current token market caps to keep fees and token dilution as fair as possible.*
3. <mark style="color:orange;">**Token Migration Begins:**</mark>
   1. Token added to Future Protocol Migrator Front-end
   2. Pre-sale goes live.
   3. $oldTOKEN can now be swapped for $newTOKEN
      1. *Tokens are locked until migration is completed successfully.*
4. <mark style="color:orange;">**Token Migration Ends:**</mark>
   1. **Successful ( >60% Presale Raised )**
      * $oldTOKEN sold to reclaim locked LP.
      * $newTOKEN plus $SOL raised or reclaimed placed in LP.
      * $newTOKEN claimable by swap & pre-sale participants.
      * Unclaimed $newTOKEN sent to community multi-sig.
        * *Not FutureDAO’s multi-sig.*
      * $oldTOKEN holders who do not migrate are airdropped 50%.&#x20;
   2. **Unsuccessful ( <60% Presale Raised )**
      1. Presale $SOL returned to all participants.
      2. $newTOKEN must be swapped\*\* back into the $oldTOKEN frozen in the contract.
      3. All $newTOKEN is burnt.

> \*\* In order to reclaim your $oldTOKEN in the event of a failed takeover, you must swap the previously frozen $newTOKEN back. Refusing to do so will leave you in a poor position, given that the migration was unsuccessful and no liquidity for that token would exist. This is by design and an important part of the protocol.

***

## <mark style="color:orange;">Criteria for Successful Migrations:</mark>

The pre-sale must sell at least 60%, with the understanding that if it fails to reach 100% sold out, all presale participants will receive their pro-rata share of tokens for the presale.

Suppose the pre-sale does not reach 60% by the end of the transition period. In that case, all tokens deposited in the transition contract and to the pre-sale contract will be refunded to the users effectively, meaning the takeover will not occur.

The amount of tokens pledged to transition is largely irrelevant. It’d be odd for a presale to reach >60% sold in the pre-sale and not have the old token holders transition in large quantities. Nevertheless, old holders who do not transition will ALWAYS receive 50% of the new tokens they would have received had they allocated their tokens to the transition plan.

***

## <mark style="color:orange;">DAO Fee Structure:</mark>

{% hint style="info" %}
FutureDAO does not benefit monetarily from Token Migrations at this point.&#x20;
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Currently, the following fees are charged based on the market cap of the projects migrating:

* For projects with FDMC <$1M = 2%
* For projects with FDMC <$5M = 1.5%
* For projects with FDMC >$5M = 1%

The fees are taken as inflation on the $newTOKEN mint and are delivered to the Champions NFT DAO. See [hybrid-defi](https://futurespl.gitbook.io/future/our-history/hybrid-defi "mention") for NFT details.

*For example, suppose $MERTD had 1 billion tokens in circulation with an FDMC of $2M. This would mean the maximum they could raise would be 6%, with 4.5% left for the treasury. The Champion NFT DAO fee would be 1.5% because the FDMC is <$5M. Therefore:*

* *The new $FUTURE supply would be 1.12 Billion:*
  * *1 Billion Tokens reserved for $MERTD holders at 1:1\**
  * *60 Million tokens for the presale*
  * *45 Million tokens for the treasury*
  * *15 Million tokens delivered to the Champions NFT DAO*