On 1 April 2025 (‘Effective Date’), the Crypto.com Exchange and App will be performing a technical upgrade for CDCSOL to:

Enhance User Experience: Users will be able to stake SOL directly for CDCSOL, with only one activation period for both SOL staking and wrapping
Introduce Dynamic On-Chain Applications:
1. On-chain CDCSOL deposits and withdrawals will be enabled, allowing users to interact with DeFi protocols that support CDCSOL while receiving SOL staking rewards (reflected in the conversion rate)
2. The conversion rate will be available via the CDCSOL token contract on the Solana blockchain, where users within or outside the platform can convert their SOL to CDCSOL and vice versa. It will be displayed when users make the conversion from SOL to CDCSOL and vice versa.

How will the upgrade impact CDCSOL?

For users who want to wrap staked SOL to CDCSOL: Staked SOL wrapping will be disabled on the Effective Date. After the upgrade, users will be able to stake their SOL for CDCSOL. Wrapping from staked SOL to CDCSOL will no longer be supported.
For users with existing CDCSOL positions:
1. CDCSOL positions will remain unchanged throughout the upgrade
2. Trading of CDCSOL pairs will be paused from 02:00 UTC on 1 April 2025. Further announcement will be made once trading resumes.
For users who want to unwrap CDCSOL to SOL: Unwrapping will be processed as usual until 31 March 2025. From 2 April 2025 onwards, CDCSOL unwrapping will go through on-chain transactions with the conversion rate determined by the CDCSOL token contract.

CDCETH wrapping and unwrapping will not be impacted.
If you have questions or concerns, kindly contact us at chat.crypto.com.