Phala Network announces Khala Chain shutdown and $PHA migration plan

On December 30, Phala Network issued an important announcement. For $PHA holders on the Kraken exchange, as the Khala chain is gradually shut down, Kraken will take the following measures:
- Stop the $PHA deposit and withdrawal services on the Khala network at 15:00 UTC on January 8;
- Migrate the $PHA balance from the Khala chain to the Ethereum network (ERC20 standard) at a ratio of 1:1;
- The $PHA deposit and withdrawal functions will be opened on the Ethereum network (ERC20) in the near future.
The team is actively working with exchanges to ensure a smooth migration process. Users need to pay attention to the latest developments and adjust their assets in time.