In October 2023, the Dypius community voted for a token migration through Governance. We are excited to announce that the migration contract is now ready, enabling DYP holders to convert their Old DYP into the New DYP v2.
Our commitment is to provide our users with the best possible experience, and as part of this commitment, we are enhancing the performance, security, and utility of the DYP token. This migration is a crucial step towards implementing improvements and ensuring the long-term sustainability of the DYP token.
- DYP holders can proceed to convert their Old DYP to New DYP on the DYP Tools migration page. The migration officially starts on November 8, 2023.
- New DYP v2 is available on the Ethereum Network. DYP holders on Ethereum, BNB Chain, and Avalanche will need to convert their tokens to the new DYP v2 on the Ethereum blockchain.
- The ticker will remain the same as “DYP”.
- The old DYP contract address on Ethereum, BNB Chain, and Avalanche is: 0x961C8c0B1aaD0c0b10a51FeF6a867E3091BCef17.
- The new DYP contract address on Ethereum is: 0x39b46b212bdf15b42b166779b9d1787a68b9d0c3.
- Regarding swap ratios, they vary depending on the respective blockchain:
- 1 DYP ERC20 converts to 6 DYP ERC20 V2.
- 1 DYP BEP20 converts to 1 DYP ERC20 V2.
- 1 DYP ARC20 converts to 1 DYP ERC20 V2.
To ensure a smooth migration process, please follow the tutorial below, which will guide you through the necessary steps to convert your old DYP tokens into the new DYP v2 tokens. This will help you gain a better understanding of the process and ensure a successful migration.
1. DYP — Ethereum Migration
Step 1: Connect your wallet
From DYP Tools User Interface, select “Connect Wallet” then choose your wallet from the menu that opens up. For the purposes of this tutorial, we’ll be using MetaMask to demonstrate — though the process will be similar for all wallets. Confirm the connection from your wallet pop-up.
Step 2: Select Ethereum chain
The Ethereum chain is selected as the default, and you need to use the same chain in your wallet as well. Please note that the conversion rate will always be 1 DYP (old) = 6 DYP (new).
Step 3: Fill in amount
Enter the amount of Old DYP you’d like to convert, or press MAX. In the bottom window, you will see how much New DYP you’ll receive for converting. Note: The ratio will always be 1 DYP (old) = 6 DYP (new). Since I entered 50 DYP (old), I will get back 300 DYP (new). When you’re ready, click “Approve”. Then confirm it in your wallet.
Step 4: Claim new DYP token
After successful approval, you can claim your new DYP tokens. Check your wallet after the transaction has been approved.
2. DYP — BNB Chain and Avalanche Migration
Step 1: Connect your wallet
From DYP Tools User Interface, select “Connect Wallet” then choose your wallet from the menu that opens up. For the purposes of this tutorial, we’ll be using MetaMask to demonstrate — though the process will be similar for all wallets. Confirm the connection from your wallet pop-up.
Step 2: Select BNB or Avalanche chains
You need to select the BNB or Avalanche chain on which you hold DYP tokens, and you need to use the same chain in your wallet as well. We will choose the Avalanche chain for this test. Please note that the conversion rate will always be 1 DYP (old) = 1 DYP (new).
Step 3: Fill in amount and approve deposit
Enter the amount of Old DYP you’d like to convert, or press MAX. In the bottom window, you will see how much New DYP you’ll receive for converting. Note: The ratio will always be 1 DYP (old) = 1 DYP (new). Since I entered 50 DYP (old), I will get back 50 DYP (new). When you’re ready, click “Approve”. Then confirm it in your wallet.
Step 4: Deposit tokens
Upon successful approval, you will need to deposit the old DYP tokens. This step requires approval in your wallet.
Step 5: Switch to Ethereum network and wait timer
The transaction hash is automatically filled in the Withdraw section. You should switch your wallet to the Ethereum Network and then wait for the timer to expire in order to withdraw your new DYP tokens.
Step 6: Claim new DYP token
After the timer has ended, you can claim your new DYP tokens. Check your wallet once the transaction has been approved.
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Add the New DYP Token Contract Address
Now that you’ve successfully migrated your DYP tokens, you have a brand new token that your wallet won’t automatically recognize. You’ll need to manually add the new contract address. Scroll to the bottom of your wallet and select ‘Import tokens’. In the first row, enter the New DYP token contract address: 0x39b46b212bdf15b42b166779b9d1787a68b9d0c3
the remaining fields will auto-populate. Then click “Next” and “Import”
You should now see your New DYP in your wallet. Congratulations! You’re done!
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New Dypius Bridge
The new DYP token has a bridge that allows users to transfer their tokens between Ethereum, Binance Smart Chain (BNB Chain), and Avalanche. This means you can easily move your new DYP tokens from one of these chains to another. This bridge can be accessed through the DYP Tools platform in the Bridge section.
Do you have any questions? You can find answers in the FAQs available here: https://medium.com/@dypius/dyp-migration-faqs-e1b052da868c
About Dypius
Dypius is a powerful, decentralized ecosystem with a focus on scalability, security, and global adoption through next-gen infrastructure. We offer a variety of products and services that cater to both beginners and advanced users in the crypto space including DeFi solutions, analytical tools, NFTs, Metaverse and more!
The protocol’s token, DYP, is listed on top-tier exchanges, such as Coinbase, Huobi Global, KuCoin, Gate.io, MEXC Global, Poloniex, and others.
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