Venom Completes Migration to Next-Generation Protocol

The new high-performance mainnet is live following DAO approval under VIP-003, with a 1:1 token swap open to holders and SparX serving as the network's wallet.

Abu Dhabi, UAE – 29 June, 2026 – Venom Foundation has completed the migration of its network to a new protocol built for far higher performance, and the new mainnet is now live. The transition follows the Venom DAO's approval of governance proposal VIP-003, which passed with 23,793,857 votes in favor and none against, and a full year of testnet validation.

"Completing a migration on this scale without disrupting what people already hold is the difficult part, and that is exactly what the year on testnet was for. Holders kept the same addresses and balances, and the swap settled one to one with no change to supply. The applications people were already using continue to run on the new chain, which now handles far more throughput than the old one," said Christopher Louis Tsu, CEO of Venom Foundation.

The new network runs with substantially higher throughput and faster settlement than the previous chain, while existing on-chain assets and applications are carried over intact.

Capabilities now live on the new mainnet:

• Up to 150,000 transactions per second

• Sub-second finality

• Dynamic sharding

• Improved Proof-of-Stake consensus

• Full backward compatibility with existing smart contracts, addresses, and ecosystem products

Swapping tokens to the new mainnet

The token swap is open through the official portal at migrate.venom.network. Each $VENOM converts one to one to the new mainnet token, and total supply and vesting schedules are unchanged. So that every holder has time to move across, the previous mainnet remains online for six months from launch, with the portal available around the clock throughout that period.

SparX is the network's wallet

SparX, a multichain wallet, is now the primary wallet for the new mainnet. Venom Wallet is being retired over the migration period and will be fully phased out within six months. Wallet addresses are unchanged: the new mainnet keeps the same TVM-based scheme, so holders reach their accounts in SparX with their existing seed phrase. SparX is available as a Chrome and Firefox browser extension and as iOS and Android apps at sparxwallet.com/download.

What holders need to know

Anyone holding $VENOM on exchanges such as MEXC, Gate.io, or KuCoin does not need to take action immediately, as the Foundation has coordinated the transition with each platform. Holders who prefer full control can withdraw to a personal wallet and complete the swap through the portal. Staked stVENOM should be unstaked back to VENOM before swapping, with the unstaking period set to 24 hours during the migration. NFTs and third-party tokens such as Dragonz and MVT did not move automatically, and each project is running its own migration.

Step-by-step instructions and exchange-specific guidance are available in the migration FAQ and on the official migration page.

Resources

• Migration hub: https://venom.foundation/migration 

• Swap portal: https://migrate.venom.network 

• Migration FAQ: https://medium.com/@venom.foundation/venom-migrates-to-next-generation-protocol-faq-748c5df4e683 

• SparX wallet: https://sparxwallet.com/download 

The Foundation will continue posting updates across its official channels as the remaining exchanges finalize their own migrations and any outstanding holders complete the swap within the six-month window.

About The Venom Foundation

The Venom Foundation is a fintech company founded in Abu Dhabi, specializing in the development and implementation of high-performance blockchain solutions. Venom's mission is to provide blockchain infrastructure that streamlines financial services and is adaptable and scalable to the needs of massive national and international enterprises.

The Venom Foundation specializes in the creation, deployment, and integration of decentralized applications and services with a focus on security, speed, and regulatory compliance. The Venom network provides throughput capacity of up to 150,000 TPS with minimal fees and 99.99% uptime, supporting an ecosystem of DeFi, NFT, gaming, and enterprise solutions.

Contact: media@venom.network 

For more information about the company and services:
https://venom.foundation
https://t.me/VenomFoundationOfficial
https://x.com/venomfoundation
https://discord.com/invite/venomfoundation