Shiba Inu's lead developer Kaal Dhairya has officially announced the imminent launch of the LEASH V2 migration, expected to begin within days. The migration will follow a 1:1 token swap model for both holders and liquidity providers, ensuring no supply dilution occurs during the process.
The entire V2 token supply has been pre-minted into a multi-signature wallet, with any leftover tokens scheduled to be burned post-migration to decrease total supply. Blockchain cybersecurity firm Hexens has completed a comprehensive security audit of both the V2 contract and migration process, with the full audit report to be released at mainnet launch.
The migration will be executed in three distinct phases: Phase 1 focuses on self-custody holders and participants in staking programs (xLEASH, veLEASH, Metaverse Lock); Phase 2 addresses liquidity providers on Uniswap V3 and ShibaSwap V2 using historical liquidity data and proof-of-withdrawal methods; Phase 3 caters to cross-chain users across Layer 1 and Layer 2 networks.
The project is planning expansion to networks like Base and Solana while maintaining Ethereum-native status for LEASH tokens. Developers are leveraging Chainlink's CCIP framework for enhanced interoperability. The migration aims to deliver a simplified, fully audited token contract while protecting long-term holders and liquidity providers, potentially causing temporary shifts in total value locked (TVL) during the transition period.