How do I swap old Loom (LOOMv1) for new Loom (LOOM)?
Everything you need to know about the transition from old Loom (LOOMv1) to new Loom (LOOM) and how to perform the swap directly inside your Exodus wallet.
In this article:
When was the Loom network token migration?
In early 2021, Loom had an upgrade where it migrated to a new smart contract. The Loom team replaced old Loom (LOOMv1) with a new Loom (LOOM) token. LOOMv1 can be swapped for the new LOOM token at a 1:1 ratio.
Why do I see old Loom (LOOMv1) and Loom (LOOM) in my Exodus wallet?
The LOOM team has kept the name of the new token as LOOM. The old token has been named LOOM (LOOMv1).
So you’ll see two wallets in Exodus that will hold the old and new LOOM:
- Loom (old) (LOOMv1) – old token
- Loom (LOOM) – new token
How do I swap from old Loom (LOOMv1) to new Loom (LOOM)?
To swap your old Loom (LOOMv1) to new Loom (LOOM), you can follow the swap process:
Mobile:
Open your old Loom (LOOMv1) wallet.
Tap on the Advanced Options icon in the top right corner.
You can now see the screen to Claim Loom (LOOM). You will need some ETH to pay network transaction fees for this claim. Tap Claim.
Do not close Exodus until you see the Success! screen (which should take about a minute).
- That’s it! Once the swap is complete, you can go to your new Loom wallet to view your newly received LOOM tokens.
Desktop:
Open your old Loom (LOOMv1) wallet.
a) Click the More options menu in the top right-hand corner. Then b) click Claim LOOM
You will need some ETH to pay network transaction fees for the token swap. To confirm, click Claim.
Do not close Exodus until you see the Swap Successful! screen (should not take more than a few minutes).
That’s it! Once the swap is complete, you can go to your new Loom wallet to view your newly received LOOM tokens.
Exodus is not affiliated with any third-party platforms, external links, or any other third-party resources mentioned in this article. As such, Exodus cannot guarantee the performance of third-party products or services, or that the steps shown and the information provided will always be accurate.
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