# 30 August 2024 (updated)

**Dear HOMNIFI Users,**

We are delighted to share some significant updates regarding our project. In line with our commitment to staying ahead of market trends and enhancing your experience, we are excited to announce the upcoming migration from the cLFi token to the new LYK token. This transition will be seamlessly supported across various exchanges.

#### What’s Changing?

We will be transitioning from the cLFi/USDT trading pair to the LYK/USDT trading pair across all supported exchanges.

#### Key Information:

* **New Token Name:** LAYERK (LYK)
* **Supported Chains:** Arbitrum, Ethereum (ETH)

#### Smart Contract Details:

1. **LAYERK - Arbitrum**
   * **Main Contract Address:** 0x5c9B04a46641aB50FE9CA27429071fC4aECb4648
   * **Proxy Contract Address:** 0x83A32F2818b6754F7d58af0e559fA9d3fA99ce13

#### Migration Timeline:

We expect the migration across all exchanges to be completed by **September 15**.

* **KOINBAY:** Migration successfully completed.
* **BITMART:** Migration in progress.
* **LBANK:** Migration in progress.
* **BITDELTA:** Migration in progress.

#### New Listings:

We are also pleased to announce that LYK will be listed on two additional exchanges before **October 30**.

#### Upcoming Q4 Listings:

* **CoinMarketCap (CMC)**
* **Coingecko**

#### How CloudK and NodeK Work:

For those interested in the technical details, we encourage you to review the formulas behind the production of **CloudK** and **NodeK**:

* [CloudK Minting Formula](https://docs.layerk.com/layer-4-minting-and-staking/cloudk-minting)
* [NodeK Minting Formula](https://docs.layerk.com/layer-4-minting-and-staking/nodek-1.0-minting)

#### HOMNIFI CloudK Migration:

We are committed to completing the migration of all cLFi tokens to LYK by November 30th.\
\---> **UPDATE: Migration postponed to December 2024**

#### Referral Program Integration:

Our referral programs—**Supernone, Basic Referral, Generation Referral, and Builder Referral**—will be fully integrated by **September 30**.

#### SNGP Global & Country Integration:

The integration of **SNGP Global** and **SNGP Country** will be completed by **October 15**.

#### Ongoing Developments:

We are continuously improving and expanding the HOMNIFI platform with several exciting developments in progress:

* **JB Platform Connection:** Enabling balance transfers within HOMNIFI.
* **ETH and Arbitrum Deposits:** Adding support for LYK deposits via ETH and Arbitrum.
* **mLYK Deposits:** Implementing support for mLYK deposits.
* **Chat Bot:** Enhancing user interaction and support with a new chat bot.
* **Delivery:** Streamlining our delivery process.
* **Membership Logic:** Improving membership management and benefits.
* **Ramp Starter Integration:** Introducing a new, simplified Ramp Starter feature.
* **Platform Simplification:** Making the HOMNIFI platform even more user-friendly.

We are excited about these upcoming changes and are confident they will add tremendous value to our community. Stay tuned for more updates, and thank you for your ongoing support!

***

**HOMNIFI Team**


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