The BEN v1 is the initial iteration of the BEN Coin, operating on the Ethereum blockchain and encountering challenges due to a flawed contract renouncement identified in a Certik audit. This issue resulted in no official ownership, limiting the project's management and update capabilities. Transitioning to BEN v2 addressed these issues by establishing clear ownership, enhancing control, and improving functionality, which includes potential upgrades. This migration also involved adjusting the token supply from 420,690,000,000,000 in v1 to 888 billion in v2, affecting the token's market value. The process was designed to be user-friendly, with significant implications for holders, especially those with loans from services like HyperBolic. The shift to v2 paved the way for future growth and an updated project roadmap.
