LOOM FAQs - Learn more about LOOM

All you need to know about the transition from LOOM (old) to the new LOOM token and how to perform the swap directly inside your Exodus wallet!


In this Article:


LOOMv1 Swap Questions

What is happening to LOOM?

LOOM is going through an upgrade. The LOOM team is replacing their old LOOM token with a brand new LOOM token. For now, both tokens will exist side by side. LOOM (old) can be swapped for the new token at a 1:1 ratio.

Why do I see LOOM (old) and LOOM in my Exodus wallet?

The LOOM team has kept the name of the new token as LOOM. The old token has been named LOOMv1 (LOOMv1).

Therefore, you'll see two wallets in Exodus that will hold the old and new LOOM:

  • LOOMv1 (old) - old token
  • LOOM (LOOM) - new token

How Do I swap from LOOM (old) (LOOMv1) to the new version of LOOM (LOOM)?

Desktop:

To swap your LOOM (old) (LOOMv1) to the new version of LOOM all you will need to do is the following:

1
Open your LOOMv1 (old) wallet.
2
Open the wallet's Asset Menu by clicking the 3 dots in the top right-hand corner and select the Claim LOOM option.

3
Confirm you want to swap by clicking Swap Now on the pop-up screen.

That's it! Do not close Exodus. Wait for the swap process to complete and you see the Swap Successful! screen (should not take more than a minute). Once the swap is complete you can go to your new LOOM wallet to view your newly deposited LOOM tokens.

Mobile:

To swap your LOOM (old) (LOOMv1) to the new version of LOOM all you will need to do is the following:

1
Open your LOOMv1 (old) wallet.
2
Tap on the cog in the top right corner to open the wallet's Advanced Options.
3
You can now see the screen to Claim LOOM. Tap Claim.

That's it! Do not close Exodus. Wait for the swap process to complete and you see the Success! screen (should not take more than a minute). Once the swap is complete you can go to your new LOOM wallet to view your newly deposited LOOM tokens.