We are thrilled to announce that the token merger between cheqd and Dock has been officially approved by both $CHEQ and $DOCK holders. 

By harnessing the combined strengths of two industry pioneers, Dock and cheqd will accelerate the global adoption of decentralized identity and verifiable credentials, empowering individuals and organizations worldwide with secure and trusted digital identities.

Dock and cheqd will continue as independent companies serving distinct market sectors in unique ways. cheqd will continue to advance payment infrastructure and network-layer functionalities, while Dock will continue focused on issuance, verification, and monetization of verifiable credentials for Identity Solution Providers, including KYC, background check, and biometrics companies through their Certs platform. Read more about the alliance here.

With the approval of this token merger, $DOCK tokens will be swapped for $CHEQ tokens at the ratio of 18.5178 $DOCK to 1 $CHEQ. This is based on a 15 day historic average using the closing prices of both tokens. The migration is estimated to commence in the latter half of Q4. More details will be available soon.

Dock’s historical and future transactions will be migrated to the cheqd blockchain, guaranteeing continuity and providing enhanced functionality for all ongoing Dock operations.

Browse our FAQ to learn more about the alliance and token merger.

Majority Approval from cheqd and Dock Communities

The governance vote resulted in a 100% approval from both $CHEQ holders and $DOCK holders. 

This strong backing from both communities reflects the shared belief in the potential of this merger to unlock new opportunities for all parties involved and drive the future of decentralized identity.

What Does the Merger Mean for Dock and cheqd?

The two companies—cheqd and Dock—will remain independent legal entities, with projects and roadmaps remaining largely unchanged.

One of the most significant benefits of this collaboration is the increased interoperability it will provide. Dock will transition to a blockchain that is already being utilized by key players in the digital identity sector. By aligning ourselves with a widely adopted blockchain, we are positioning our solutions within a broader, interconnected ecosystem.

As a $DOCK token holder, this merger with $CHEQ brings a host of compelling benefits that enhance both the value and utility of your tokens, such as increased token liquidity, access to enhanced resources and tokenomics that benefit holders. Read all about the holder benefits.

Additionally, Dock’s migration of network traffic to cheqd will significantly boost activity on the cheqd network, bringing approximately 300% more traffic to the mainnet and 50% to the testnet. This will accelerate network effects, driving more adoption across industries and use cases.

This collaboration is set to increase demand for $CHEQ, as more identity transactions will occur across cheqd’s infrastructure, supporting a broader ecosystem of verifiable credentials and increasing token burn.The partnership of cheqd and Dock’s established ecosystems will forge a powerful network of over 100,000 community members and hundreds of active partners.

What Happens Next?

As we move forward, cheqd and Dock will announce the commencement dates for the following key activities:

  • Token Migration: The migration of $DOCK tokens to $CHEQ is expected to begin in the latter half of Q4.
  • Porting Blockchain Transactions: Existing blockchain transactions on the Dock chain will be ported to the cheqd blockchain.

The cheqd and Dock teams will work closely with exchanges to facilitate the token migration, ensuring a seamless transition for all trading activities.

Post-migration, Dock will default to using the cheqd network, though we will still support clients who request to use an alternative chain, multiple blockchains, or ledgerless identity systems. We believe defaulting to the cheqd chain will ensure that Dock continues to operate within the most advanced and secure decentralized ID ecosystem.


A Defining Moment for the Decentralised Identity Market

By merging the $DOCK token with $CHEQ, we are unlocking unprecedented opportunities for our community, positioning you at the cutting edge of decentralized identity innovation.

The future of decentralized digital identity is bright, and with your $CHEQ tokens, you'll be part of a dynamic, growing ecosystem that is set to lead the industry. 

Dock and cheqd will shape a world where secure, verifiable credentials are the norm, and your involvement is key to making this vision a reality. The journey ahead is filled with potential, and we are thrilled to have you with us as we pave the way for the next era of digital identity.