For the launch of the Mainnet, ARTH 2.0 has a migration plan
The ARTH 2.0 launch has made the MAHADAO team to crate a migration strategy and this strategy is only for those who have previously utilized the ARTH v1 platform. The team has documented all of the actions required to ensure a smooth transition to the mainnet. The actions outlined here will apply to circulating ARTH tokens as well as LPs that have their liquidity locked on MahaSwap.
The three migration plans:
- Pre-snapshot phase: In this phase, It is recommended that users withdraw their ARTH from exchanges and keep them in their wallets. During this time, MAHADAO will update information regarding the ARTH migration plan by alerting various exchanges (Bitmax) and cooperating with various listing sources (CoinMarketCap, CoingGecko, Etherscan etc).
- Snapshot phase: In this phase, All exchanges have been asked to suspend deposits/withdrawals and ARTH trading just before the snapshot is taken. The snapshot is taken, and the team extracts all liquidity from Uniswap and MahaSwap and returns it to the LPs.
- Post-snapshot phase: Following the snapshot, the team will start airdropping the new ARTH v2 tokens and commence the mainnet launch.
What is to be done?
Anyone with an ARTH token balance on an exchange is recommended to withdraw the funds and keep them in a wallet before the snapshot.
Users are asked to refrain from trading ARTH tokens once the snapshot has been taken. Around the time of the main net launch, new ARTH tokens will be airdropped.
If you have ARTH tokens in your wallet, there is nothing more you need to be concerned about; the team will take care of all the necessary processes to ensure that everyone receives the new tokens through airdrop.
There is nothing needed to be done if you have LP tokens that have been staked on the platform or deposited on Uniswap or Mahaswap, the team will airdrop your collateral tokens (ETH or DAI) back to you.
MahaDAO is a community-powered, decentralized autonomous organization on a mission to empower billions to preserve their purchasing power through the world’s first valuecoin, ARTH.