WE'RE MOVING TO ARBITRUM.
02 May 2023, 17:37
WE’RE MOVING TO ARBITRUM!
With exactly one week left until migration begins it’s time to start peeling back the veil on our plans. Throughout the next week we will be dropping alpha on the upcoming migration - starting with our big move to Arbitrum.
So why Arbitrum?
We’ve heard your concerns and are taking steps to provide the best products in all of DeFi!
✅ Cheaper gas fees will allow you to move between DexFi vaults
✅ Following the momentum in the market allowing for more DeFi users to access our products
✅ Better integrations with new and existing partners on Arbiturm
We have BIG plans on Arbitrum that will be revealed soon. This is the first step towards our future plans for dexVAULTS & dexSWAP… 👀
How does this affect migration?
As we’ve stated, we will for sure have a migration tool to help you complete the move from dexSHARE on BNB to gDEX on ARB however this will require you to withdraw from all vaults and/or farms in order to deposit single assets into the locker contracts. Once you have deposited you will be able to claim your new tokens on Arbitrum through the new app.
We realize that withdrawing (specifically from the vaults) may cause some slippage and we will do everything that we can to compensate for this. As deposits on ARB will be on our own dexSWAP we will provide options to ensure that users do not experience this issue on the other side.
Pro Tip:
The official migration will begin on May 9th but it may be advantageous to begin to consolidate your tokens and hold them within your wallet until we deploy the migration tools. This is still a free market and we do not control the price of dexSHARE but it’s worth noting that there is still several hundred thousand in liquidity that will have no use in gDEX as liquidity will be 100% protocol owned. This means that if you are in a vault and/or farm you might want to consider converting your LPs into single tokens (dexSHARE / USDEX).
Let migration week begin! 🎉