Effect AI [OLD] wallet

What is Effect AI [OLD] (EFX)?

Effect Network started as a marketplace for the kind of work machines still cannot finish on their own: labelling images, checking transcripts, sorting data, with EFX as the unit that pays for the task and settles it between requester and worker. That is the idea the token was built around, and it is worth knowing before you decide where the balance sits.

The complicated part for a holder is the token's history rather than its purpose. EFX has not lived in one place. It exists as an ERC-20 and also circulates as a BEP-20, the same ticker on both, and the [OLD] in the name is the detail that matters most: the project carried its name onto a newer token, and this entry tracks the earlier one. The two balances are separate things. An old holding does not quietly become the new one while it sits in a wallet, and any conversion goes through whatever route the project itself opens.

So treat the two chains as two ledgers. The Ethereum balance spends ETH on fees, the BNB Smart Chain balance spends BNB, and a transfer to any counterparty has to be sent on the chain that counterparty expects.

Supported networks in Tangem (2): Ethereum, BNB Smart Chain. Holding a token through a migration means your receiving address has to still be yours when the migration window opens, and with Tangem the private key is generated inside the card and stays there, so the address you register now is the one that answers later. That continuity is the practical argument for parking EFX on a card rather than moving it around.