Migration Portal: https://kyber.org/migrate
In KIP-6, the Kyber group proposed a Kyber Community Crystal (KNC) token improve and migration to make KNC rather more dynamic and versatile with the flexibility to assist extra environment friendly upgrades, whereas amplifying KyberDAO’s governance energy. The KyberDAO neighborhood gave their robust stamp of approval with a big majority of 99.89% voting in favour of the proposal.
Following this profitable vote, the migration course of has begun at:
Tuesday, twentieth April, 9PM SGT (GMT+8)
To keep away from confusion, it is strongly recommended that the outdated token be labelled as KNC Legacy (KNCL) and the brand new token will retain the unique ticker KNC. KNC stays an ERC-20 token. Please make sure that to verify your tokens earlier than sending/utilizing them wherever.
Wallets, Dapps, centralized exchanges, staking swimming pools, and knowledge websites like CoinGecko and Coinmarketcap might be supplied with a set of (technical) KNC migration directions and are anticipated to vary the ticker symbols and assist the migration. Nevertheless, the method is not going to be rapid and there might be a transition interval the place each KNCL and KNC tokens will run in parallel.
This migration course of has no laborious deadline and is open-ended at this second, which means there isn’t a rush to transform to the brand new KNC tokens. Nevertheless, we do suggest that you simply migrate your tokens as quickly as potential to the brand new KNC token since it can quickly be required for actions comparable to staking within the newest model of the KyberDAO and including liquidity on the Kyber DMM.
For KNC holders managing their very own tokens on self-custodial wallets comparable to Metamask, Krystal, Ledger, Trezor, Keystore and so forth. you’ll be able to convert to the brand new KNC token by yourself through the Migration Portal on kyber.org/migrate
⚠️IMPORTANT: Please make sure that to not switch new KNC tokens to a centralized alternate until the alternate is already offering assist for the brand new KNC token. Doing so would possibly end in a lack of funds.
Migration may be very easy and directions may be discovered beneath.
On Kyber.org, you’ll be able to migrate KNC from a self-custodial pockets the place you management the personal keys. In case your outdated KNC is saved in a separate platform the place you don’t management the personal keys to the pockets (e.g. centralized exchanges, Dapps, staking swimming pools), you’ll first have to withdraw your outdated KNC to your personal pockets or observe their particular directions on tips on how to migrate to the brand new KNC.
Migrate your outdated KNC to new KNC
- Navigate to https://kyber.org/migrate on desktop or utilizing a Dapp browser on a cell pockets (e.g. Belief, imToken, Enjin)
- Click on the ‘Migrate’ button on the menu bar
- Join your Ethereum pockets (e.g. Metamask, Ledger, Trezor, WalletConnect, Keystore)
4. Click on ‘Migrate’
5. Approve Token when you haven’t carried out so
6. Verify your Migration transaction on the UI and your pockets. As it is a transaction on Ethereum, fuel is required.
7. Click on ‘Completed’
You must obtain your new KNC tokens in your pockets as soon as the transaction is profitable.
Watch the Video Tutorial
How do I view my new KNC tokens on my Metamask extension?
- On Metamask, click on the button ‘Add Token’ then go to the tab ‘Customized Token’
- Beneath ‘Token Contract Tackle’, paste the brand new KNC contract tackle: 0xdeFA4e8a7bcBA345F687a2f1456F5Edd9CE97202
- Add the brand new KNC token
How are centralized exchanges dealing with the migration?
We’re speaking to varied centralized exchanges comparable to Binance to information them by way of the migration course of. Every alternate will probably handle the migration in a different way with their very own set of directions and we’ve got no management over their particular person processes. Please verify with them instantly for extra particulars. If you want to conduct the migration your self, please withdraw KNC from the exchanges to your personal Ethereum pockets and migrate the tokens by yourself utilizing the Migration Portal.
⚠️IMPORTANT: Please make sure that to not switch new KNC tokens to a centralized alternate until the alternate is already offering assist for the brand new KNC token. Doing so would possibly end in a lack of funds.
Is there a tough deadline emigrate to the brand new KNC?
This migration course of started on Tuesday, twentieth April, 9PM SGT (GMT+8) however has no laborious deadline for the time being, which means there isn’t a rush to transform to the brand new KNC tokens until you want to stake it within the newest model of the KyberDAO. It’s potential for the Kyber neighborhood to suggest and vote on a tough deadline sooner or later.
Which KNC do I stake in KyberDAO? Do I vote with my outdated or new KNC?
Do observe that KyberDAO has undergone its personal migration from v1 to a brand new model v2 following the approval of KIP-7.
In case you have staked outdated KNC on KyberDAO v1 (legacy.kyber.org), withdraw them into your pockets first earlier than migrating to the brand new KNC on KyberDAO v2 (kyber.org).
To assist this transition, there might be a grace interval till the beginning of Epoch 2 (from eleventh Could). Throughout this era, there might be NO voting campaigns.
In case you have migrated to the brand new KNC token throughout Epoch 0, you’ll be able to start staking your new KNC on KyberDAO v2 (kyber.org) instantly. Staking KNC on KyberDAO v2 throughout Epoch 0-Epoch 1 makes you eligible to vote in Epoch 2 beginning on eleventh Could.
KyberDAO v2 might be used for all future governance operations transferring ahead and KyberDAO v2 staking will solely assist the brand new KNC token. KyberDAO v2 good contracts have been audited by Hacken and the report may be discovered here.
What’s going to occur to KyberDAO v1 and my unclaimed ETH rewards?
KyberDAO v1 (legacy.kyber.org) will proceed to assist the withdrawal of outdated KNC and outdated unclaimed ETH rewards. However no future voting campaigns and governance operations might be carried out on KyberDAO v1. KyberDAO v1 will solely assist the outdated KNC token so the brand new KNC token can’t be staked there.
KNC Legacy (KNCL) and KNC Token Logos
A delicate reminder that exchanges and platform companies might not have upgraded to the brand new KNC token or modified the token ticker symbols and logos in the course of the transition interval. At all times double-check the token contract tackle to make sure that you’re interacting with the correct contract when utilizing totally different platforms. Please make sure that NOT to ship new KNC tokens to an alternate until the alternate is already offering assist for the brand new KNC.
In case you have any questions, please attain out to us on Discord and observe our KyberDAO Twitter for the most recent updates! Onwards Kyber Community!
