Token Migration
Last updated
Last updated
This page is for XBE token holders who will need to migrate to $XB3
When the XB3 protocol launches, users will be able to migrate their tokens at a 1:1 ratio.
Within this document page, we will explain the migration process for each type of individual, whether they are holders, stakers, lockers or liquidity providers:
All XBE holders will be able to migrate their tokens (1:1) by using the “Claim” page in the App. This will mint your $XB3 tokens directly to your wallet.
All XBE stakers will also be able to migrate their tokens (1:1) by using the “Claim” page in the App. This will mint your $XB3 tokens directly to your wallet.
Keep in mind that there is no need to unstake your XBE prior to the migration as the migrator contract will simply mint your staked XBE amount directly to your wallet in the form of new XB3 tokens.
All unclaimed rewards from staking, locking, providing liquidity in the XBE/ETH Sushi pool, or providing liquidity in the Curve Hive Vaults (FRAX or cvxCRV) will also be able to mint their 1:1 ratio of XB3 tokens directly to your wallet.
Keep in mind that there is no need to withdraw your XBE rewards prior to the migration as the migrator contract will simply mint your XBE rewards amount directly to your wallet in the form of new XB3 tokens.
Although users will not have to withdraw their XBE rewards from providing liquidity — It is vitally important to note that all liquidity providers in the SushiSwap XBE/ETH LP pool will need to withdraw their assets prior to the snapshot and migration taking place.
All XBE assets that are not withdrawn before the snapshot will not be accounted for during the migration.
Here is the XBE/ETH pair address (0x1d46ac355f9f338d9edea6c072120abe90d67bee) — please feel free to contact one of the admins if you are unsure how to withdraw your LP.
Despite XBE not actively on any centralized exchanges, we are aware that a BKEX had the XBE token listed. Please note that any XBE that are on centralized exchanges will not be accounted for during the migration.
In our case, only EOAs (Externally Owned Addresses) are allowed to migrate their tokens. Contracts on the other hand will not be able to (XBE contracts, AMM and others).
All XBE lockers will also be able to migrate their tokens using the “Claim” page of the new UI.
All regular XBE lockers that did not participate in the Bonus Campaign (BC) will have their same amount of tokens locked for the same amount of time (i.e. with the same timestamp as the XBE lock).
That is: If Alice has 10 XBE tokens locked for 5 months at the time of the snapshot. When XB3 launches => Alice will have 10 XB3 tokens locked for 5 months.
These users will, however, be able to participate in the XB3 Bonus Campaign after the migration if they decide to extend their lockup period to the full term. These users can simply “Add to Boost” which will increase their lock up period. Note that this will need to be done within the first 2 months of launch to qualify.
When a BC participant migrates — These tokens will be automatically locked on behalf of the user for the full term, therefore qualifying the person for the XB3 Bonus Campaign. These users will be at maximum boost (which will not degrade) for the entire 2 year campaign. Additionally, these users will also get their share of 5,000 bonus XB3 tokens on top of their non-degrative boost.
It will be noticed that the BC users will have more veXB3 than they did veXBE.
It is important to note that once a user is registered in the BC , they won’t be able to change their BC deposit amount using the same wallet.
Using an example: If Bob had 5 XBE locked in the BC and 2 XBE in his wallet => when he migrates he will have 5 XB3 locked in the BC and 2 XB3 tokens in his Wallet. Bob won’t be able to increase this new XB3 BC position by using the same wallet. Bob WILL, however, be able to send the 2 XB3 tokens to another wallet and participate in the Bonus Campaign by locking for the full term within the first 60 days of launch.
Its important that the user MUST migrate in the first 2 months to be registered in BC, otherwise the migrator will create a common full-time lock.
XBE users who have an already expired lock will need to unlock their tokens prior to the snapshot and the migration. Otherwise, the tokens will be locked on behalf of the user for the full term. This will, however, qualify you for the BC considering the tokens are locked within the first two months of launch.
XBE holders will be able to migrate their tokens at a 1:1 ratio.
All unlocked XBE tokens from the various streams will be minted directly to you wallet when going through the migration process. Locked XBE will either be locked for the same timestamp it currently is, or it will be locked for the full term, qualifying the user for the XB3 Bonus Campaign.
All XBE/ETH LP’s will need to withdraw their assets from the pool prior to the snapshot and migration.
Important that the user MUST migrate in the first 2 months to be registered in BC, otherwise the migrator will create a common full-time lock.
Any XB3 locked after the 2 month campaign will NOT qualify for the bonus campaign, so the user will have a linearly decreasing boost.
It needs to be noticed that the one cannot increase their BC stake after it has been made. Once the full-time lock is made (through the migration or locking tokens during the first 2 months), the user is registered in BC and all other locks in the same wallet will not affect the BC position. The only way for one to increase their BC stake is by using separate wallets.
Users won’t be able to change their boost once they are in the BC. Once they are registered, they will have max boost till the end of the campaign, and this boost will not degrade.
For guides on the migration please see below:
