XMN Crypto: The UTK to XMN Migration Explained
XMN replaced UTK in 2025. The two upgrade options and their ratios, how XMN moves between Sui and MultiversX, and what JWLXMN on JewelSwap does with XMN.
XMN is the token of xMoney, a European payments company. It replaced UTK, the old Utrust token on MultiversX, after a holder vote in September 2025. XMN launched on Sui in October 2025, went live on MultiversX on 7 April 2026, and moves between the two chains one to one.
XMN at a glance
| Value | |
|---|---|
| Issuer | xMoney Labs AG, Vaduz, Liechtenstein |
| Maximum supply | 10,000,000,000 XMN |
| Circulating at launch | About 650,000,000 XMN |
| Sui type | 0x97c7571f4406cdd7a95f3027075ab80d3e9c937c2a567690d31e14ab1872ccee::xmn::XMN (6 decimals) |
| MultiversX token ID | XMN-cfe145 |
| White paper | Version 3.0, notified to the FMA Liechtenstein on 16 April 2026 |
Check the contract address or token ID before you buy or bridge. Copycat tokens with the same ticker are common on every chain, and the identifiers above are the ones xMoney publishes on its token page.
XMN gives holders fee discounts on xMoney's merchant products, staking rewards, loyalty benefits and votes on some platform proposals. The white paper says it carries no ownership of, profit share in, or claim against the issuer.
Why UTK became XMN
UTK was the token of Utrust, a crypto-payments provider that merged into xMoney. In xMoney's words, UTK was a "closed-loop rewards token". The company wanted a token it could tie to regulated payments and its stablecoin plans, and on 5 September 2025 it introduced XMN, built on Sui with "a capped supply of 10 billion tokens".
Holders voted on the change from 15 to 22 September 2025. Voting power used a snapshot taken on a random day between 2 and 8 September, with extra weight for UTK held in MultiversX DeFi (1.2x) and in Guilds (2x). xMoney reported the result as 93.74% yes and 6.26% no.
The two upgrade options
The governance proposal gave every UTK holder two choices. Both burn the UTK.
| Option 1: locked | Option 2: liquid | |
|---|---|---|
| Ratio | 1 UTK = 1 XMN | 3 UTK = 1 XMN |
| Lock | Staked and locked for 6 months | None, XMN arrives on Sui immediately |
| Rewards stated by xMoney | About 10% APR during the lock | About 8% starting APR if you stake |
| Extra | An OG NFT with a lifetime +2% APR boost (10,000 NFTs, minimum 1,000 UTK) | No NFT |
| Chain | Lock on MultiversX or bridge to Sui | Sui |
The xMoney token page calls the locked form LXMN. Counted in tokens, Option 1 gave three times as many XMN per UTK. Option 2 gave up that difference in exchange for XMN that could be traded straight away. APRs are xMoney's stated figures and are variable; the token page describes its "up to 10%" as non-guaranteed.
How the upgrade worked in practice
The upgrade was manual. Holders connected a wallet at upgradeutk.xmoney.com, picked an option and signed the transaction. Nothing happened to UTK sitting in a wallet that never visited the portal. If you still hold UTK, open that page and check whether it accepts your upgrade before you do anything else.
UTK held on exchanges followed each exchange's rules, and they differed. KuCoin, for example, closed UTK trading on 14 October 2025, opened XMN trading on 15 October, and said it would convert any UTK not withdrawn by 6 January 2026 under Option 2, three UTK for one XMN. If your UTK was on an exchange, its announcement for the swap is the document that applies to you.
XMN on Sui and MultiversX
XMN launched on Sui, and Sui is where the liquid Option 2 tokens landed. On 7 April 2026 xMoney made XMN native on MultiversX and opened a bridge in both directions. xMoney says the bridge moves XMN one to one and that the MultiversX launch created no new supply. The launch post listed staking with an optional xMoney NFT boost, and marked buying in xPortal and trading on xExchange as coming soon. The token page now names xPortal and xExchange among the places to get XMN.
A few practical points when you move XMN between chains:
- You need a wallet on each side: a Sui wallet such as Slush or Suiet, and a MultiversX wallet such as xPortal or the web wallet. Our JewelSwap on MultiversX guide covers what you can do with tokens on that side.
- Each chain charges its own gas, so keep a little SUI on Sui and a little EGLD on MultiversX.
- On Sui, XMN has 6 decimals and JWLXMN has 9. Read amounts in the wallet interface, not from raw on-chain values.
- Staking is per chain. xMoney's staking at stake.xmoney.com has flexible, locked and NFT-boosted pools on both Sui and MultiversX. Staked XMN sits in a staking contract rather than in your wallet, so only unstaked XMN can be bridged.
If you are comparing what each chain offers beyond xMoney's own staking, our lists of DeFi protocols on MultiversX and Sui DeFi platforms are the starting points.
XMN on JewelSwap: JWLXMN
JewelSwap runs JWLXMN on Sui. You can turn XMN into JWLXMN one to one with Convert on the JWLXMN page, then stake it. Of each conversion, 90% of the XMN goes into xMoney staking and 10% goes into a JWLXMN/XMN pool on Cetus. Rewards from the xMoney position are claimed daily and shared between the JewelSwap treasury and stakers. Half of the staker share goes to JWLCETUS stakers and half to JWLXMN stakers. JWLXMN stakers receive their share as more JWLXMN, with no lock on unstaking.
Conversion is one way. The contract has no function that turns JWLXMN back into XMN, so the way out is the Cetus pool, which opened on 8 November 2026 and held about 1,100 XMN and 1,100 JWLXMN on 11 November. Larger swaps will move the price.
JewelSwap also ran XMN staking on MultiversX before the Sui contract existed. Holders of those MultiversX positions can migrate them to JWLXMN on Sui once the JewelSwap team has linked their MultiversX address to their Sui wallet. The JWLXMN docs list every step, and our JWLXMN introduction explains the token.
Questions
What is the UTK to XMN ratio?
1 UTK for 1 XMN if you accepted a six-month staking lock, or 3 UTK for 1 liquid XMN with no lock.
Is UTK still traded?
Exchanges such as KuCoin closed their UTK markets when they listed XMN, each on its own timetable. Check your exchange's swap announcement and xMoney's upgrade portal for UTK you still hold.
Is XMN on Sui or MultiversX?
Both. It launched on Sui in October 2025 and went live on MultiversX on 7 April 2026. xMoney says the bridge between them is one to one and adds no supply.
Can I turn JWLXMN back into XMN?
Not through the contract. You can swap JWLXMN for XMN in the Cetus pool, at whatever price the pool gives.
