Introduction
Our team has been hard at work perfecting the migration portal to ensure that previous holders of Gather ($GTH) can convert their holdings to Hydro tokens. If you’re a new user to Hydro then this won’t be relevant to you however, if you have existing Gather tokens then make sure to read on!
Firstly, let’s define what the migration process actually is.
A token migration refers to the process of transferring tokens from one blockchain platform or protocol to another. This typically occurs when a token undergoes a significant upgrade, a change in underlying technology, or a migration to a different blockchain altogether.
Important Dates
- Snapshot Date = Pause Date = 7th of April, 2024 - 11:59 pm UTC.
- The Last LP Incentive Program payment will be made on 1st of April.
- The Last Masternode payment will be made on the 26th of March.
The snapshot date also marks the pause date for all $GTH token contracts (ERC20 & BEP20) and Gather Layer One. Meaning, that transferring or trading $GTH tokens will not be possible after this time. All information will be recorded by this time for wallet holdings, staking holdings, tokens in liquidity pools, and token collaterals for NFTs. For detailed information about the conversion rates to Hydro tokens and linked vesting schedules, please refer to our earlier blog here.
The migration portal go-live is scheduled for 9th of April, 2024 - 12:00 pm UTC.
The grace period for migrations is purposely made quite long. The migration portal will be up for 12 months, to facilitate claims for Hydro tokens for those who were holding $GTH in all categories.
In order to avoid potential issues, we recommend having your $GTH in an owned wallet rather than a third-party service (central exchange or similar).
At the time of writing, $GTH is exclusively listed on Gate.io as a centralized exchange, whether Gate.io will support the migration or not is not yet clear, therefore we recommend withdrawing your $GTH tokens from Gate, to an individually owned wallet address.
We are in talks with the exchange and will update the community as soon as possible, but to be on the safe side, please follow the above recommendations as soon as you can.
How Will The Migration Portal Work?
After landing on the portal, step-by-step guidance is available on it. It simply lets you connect your EVM and SUI wallets to map them.
Step 1: Connect your EVM wallet (which holds $GTH and/or stakes $GTH and/or owns a masternode NFT, and/or provides liquidity to Uniswap or Pancakeswap pools).
Step 2: Connect your SUI wallet
Step 3: Map your wallets
Once mapping is complete, you will be able to see the available categories on the left menu:
- Wallet holdings
- Staked holdings
- Masternode NFTs
- LP Tokens
Let’s dive into these categories to understand the claiming process:
1) Wallet Holdings (5:1 swap rate):
If you were just holding $GTH tokens in your wallet, the migration portal will display your combined $GTH holdings ($GTH on mainnet + $GTH ERC20 + $GTH BEP20 held by this wallet address) and will allow you to claim Hydro tokens as tokens vest for this category, ie. 5% of tokens will be claimable during Hydro token launch for this category and users will be able to claim by this time. For detailed information on swap rates and vestings linked with the category, please refer to https://www.hydro.online/blog/hydro-round-up
2) Staked Holdings (2:1 swap rate):
If you were just staking $GTH tokens on Gather Layer One, the migration portal will display your staked $GTH holdings, and will allow you to claim Hydro tokens as tokens vest for this category, ie. 20% of tokens will be claimable 3 months after Hydro token launch for this category and users will be able to claim the subject amount by this time. For detailed information on swap rates and vestings linked with the category, please refer to https://www.hydro.online/blog/hydro-round-up
3) LP Tokens (2:1 swap rate):
If you were providing liquidity with the $GTH tokens on Uniswap ($GTH/ETH) or Pancakeswap ($GTH/BNB) pools, migration portal will display your LP Token holdings, and will allow you to claim your associated ETH or BNB directly, and Hydro tokens as tokens vest for this category, ie. 20% of tokens will be claimable 3 months after Hydro token launch for this category and users will be able to claim the subject amount by this time. For detailed information on swap rates and vestings linked with the category, please refer to https://www.hydro.online/blog/hydro-round-up
Redeem LP Tokens screen:
Claim Hydro tokens screen:
4) Masternodes (2:1 collateral swap rate):
If you own a Gather Masternode NFT, the migration portal will display your Gather Masternode NFT holdings and will allow you to transfer your masternode, and claim the Hydro NFT. The Hydro NFT will be claimable after 3 months from TGE. If the user prefers, NFT collateral will be convertible to Hydro tokens in return for the NFTs via the masternode management portal after the vesting period for this category ends (7 months from TGE), For detailed information on swap rates and vestings linked with the category, please refer to https://www.hydro.online/blog/hydro-round-up
Transfer existing NFT screen:
Claim Hydro NFT screen:
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