Dear Community,
We’re excited to share some more information as we move closer to the release of VEMP Horizon on mainnet. All VEMP holders will be able to claim the new tokens 1:1 ratio, so there will be no downsizing in your holdings as we move over. We will be reducing the max supply from 810 Million down to 500 Million, so your holdings as a percentage of the max supply will actually increase.
T̶h̶e̶ ̶m̶i̶g̶r̶a̶t̶i̶o̶n̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶t̶a̶k̶i̶n̶g̶ ̶p̶l̶a̶c̶e̶ ̶o̶n̶ ̶E̶t̶h̶e̶r̶e̶u̶m̶ ̶M̶a̶i̶n̶n̶e̶t̶,̶ ̶s̶o̶ ̶y̶o̶u̶ ̶w̶i̶l̶l̶ ̶n̶e̶e̶d̶ ̶t̶o̶ ̶b̶r̶i̶d̶g̶e̶ ̶f̶r̶o̶m̶ ̶o̶t̶h̶e̶r̶ ̶c̶h̶a̶i̶n̶s̶ ̶b̶a̶c̶k̶ ̶t̶o̶ ̶m̶a̶i̶n̶n̶e̶t̶.̶ ̶Y̶o̶u̶ ̶c̶a̶n̶ ̶f̶i̶n̶d̶ ̶l̶i̶n̶k̶s̶ ̶f̶o̶r̶ ̶b̶r̶i̶d̶g̶e̶s̶ ̶f̶u̶r̶t̶h̶e̶r̶ ̶d̶o̶w̶n̶ ̶t̶h̶e̶ ̶a̶r̶t̶i̶c̶l̶e̶.̶
We will be deploying the migration contracts on each chain (ETH, BNB, Fantom, and Pulsechain). This allows an easier transition, and removes any fees incurred for using bridges. We asked for bridge fees to be removed however unfortunately this wasn’t possible as the BoringDAO bridge uses a fee to pay for the node cost as part of the process.
Note: no action is required yet. This is preparation information for the migration but it is not required to unstake and bridge until we announce the release of the migration. We are currently going through auditing process.
Migration
We have developed a contract to handle the move from all our current chains. Once we have announced the date of the snapshot, users will be able to deposit their VEMP into our migration contracts. We will then drop users the same number of tokens on Arbitrum One Mainnet, where you will be able to bridge your tokens to the VEMP Horizon Layer 3. The date of the new token drop will be announced after the migration.
We will also be working on the option to migrate directly to Horizon as well, and will confirm if this is a possibility when the migration goes live.
Please note that the correct contract for migrating will only ever come directly from our twitter and admins in our Telegram/Discord. You can expect there to be fake accounts and fake admins phishing so please do not migrate without first confirming the migration web page from our official sources. It will only be available from https://app.vemp.xyz. The contracts will be fully audited before going live.
We are taking steps to monitor and remove all spam and phishing links but please do not interact with anything that is not mentioned on our websites, either https://vemp.xyz or https://app.vemp.xyz. Please check those URLs with extreme care when attempting any kind of transaction.
We have not deployed the contracts yet, and if you have not seen it as a pinned tweet on our twitter, then you may be interacting with a scam.
Bridging
Bridging is not required, the previous information has been updated and migration will be available on all chains.
T̶h̶i̶s̶ ̶m̶e̶a̶n̶s̶ ̶t̶h̶a̶t̶ ̶y̶o̶u̶ ̶m̶u̶s̶t̶ ̶b̶r̶i̶d̶g̶e̶ ̶a̶n̶y̶ ̶t̶o̶k̶e̶n̶s̶ ̶o̶n̶ ̶B̶N̶B̶ ̶S̶m̶a̶r̶t̶ ̶C̶h̶a̶i̶n̶,̶ ̶F̶a̶n̶t̶o̶m̶,̶ ̶o̶r̶ ̶P̶u̶l̶s̶e̶c̶h̶a̶i̶n̶ ̶b̶a̶c̶k̶ ̶t̶o̶ ̶E̶t̶h̶e̶r̶e̶u̶m̶.̶ ̶I̶f̶ ̶y̶o̶u̶ ̶d̶o̶n̶’̶t̶,̶ ̶t̶h̶e̶n̶ ̶y̶o̶u̶ ̶w̶i̶l̶l̶ ̶n̶o̶t̶ ̶b̶e̶ ̶a̶b̶l̶e̶ ̶t̶o̶ ̶m̶i̶g̶r̶a̶t̶e̶ ̶a̶n̶d̶ ̶r̶e̶c̶e̶i̶v̶e̶ ̶y̶o̶u̶r̶ ̶n̶e̶w̶ ̶t̶o̶k̶e̶n̶s̶.̶ ̶T̶h̶e̶ ̶o̶l̶d̶ ̶t̶o̶k̶e̶n̶ ̶w̶i̶l̶l̶ ̶b̶e̶ ̶d̶e̶p̶r̶e̶c̶a̶t̶e̶d̶,̶ ̶a̶n̶d̶ ̶l̶i̶q̶u̶i̶d̶i̶t̶y̶ ̶w̶i̶l̶l̶ ̶n̶o̶t̶ ̶b̶e̶ ̶t̶h̶e̶r̶e̶ ̶t̶o̶ ̶t̶r̶a̶d̶e̶ ̶i̶t̶ ̶a̶n̶y̶ ̶l̶o̶n̶g̶e̶r̶.̶
̶F̶o̶r̶ ̶h̶o̶l̶d̶e̶r̶s̶ ̶o̶n̶ ̶F̶a̶n̶t̶o̶m̶ ̶a̶n̶d̶ ̶B̶N̶B̶,̶ ̶y̶o̶u̶ ̶c̶a̶n̶ ̶b̶r̶i̶d̶g̶e̶ ̶b̶a̶c̶k̶ ̶u̶s̶i̶n̶g̶ ̶t̶h̶e̶ ̶b̶o̶r̶i̶n̶g̶D̶A̶O̶ ̶b̶r̶i̶d̶g̶e̶:̶ ̶h̶t̶t̶p̶s̶:̶/̶/̶o̶p̶o̶r̶t̶a̶l̶.̶b̶o̶r̶i̶n̶g̶d̶a̶o̶.̶c̶o̶m̶/̶n̶a̶t̶i̶v̶e̶_̶b̶r̶i̶d̶g̶e̶?̶t̶a̶r̶g̶e̶t̶_̶c̶h̶a̶i̶n̶_̶i̶d̶=̶1̶&̶t̶o̶k̶e̶n̶=̶0̶x̶e̶D̶F̶3̶c̶e̶4̶D̶d̶6̶7̶2̶5̶6̶5̶0̶a̶8̶e̶9̶3̶9̶8̶e̶5̶C̶6̶3̶9̶8̶D̶0̶6̶1̶F̶a̶7̶9̶5̶5̶
̶F̶o̶r̶ ̶h̶o̶l̶d̶e̶r̶s̶ ̶o̶n̶ ̶P̶u̶l̶s̶e̶c̶h̶a̶i̶n̶,̶ ̶y̶o̶u̶ ̶c̶a̶n̶ ̶b̶r̶i̶d̶g̶e̶ ̶b̶a̶c̶k̶ ̶u̶s̶i̶n̶g̶ ̶t̶h̶e̶ ̶o̶f̶f̶i̶c̶i̶a̶l̶ ̶P̶u̶l̶s̶e̶c̶h̶a̶i̶n̶ ̶b̶r̶i̶d̶g̶e̶:̶ ̶h̶t̶t̶p̶s̶:̶/̶/̶b̶r̶i̶d̶g̶e̶.̶p̶u̶l̶s̶e̶c̶h̶a̶i̶n̶.̶c̶o̶m̶/̶#̶/̶b̶r̶i̶d̶g̶e̶
Stakers
Those that are staked, you will need to unstake in order to migrate, as xVEMP is non-transferrable. Staking rewards will be turned off, but you can still claim any outstanding tokens, and we will honour any that are claimed but not delivered if the pool rewards run out.
All other staking pools (excluding VEMP) will remain accessible until all users are unstaked.
Again, note that the migration has not been released yet so you do not need to unstake yet.
Exchanges
We’re in talks with all our exchanges to provide a seamless experience throughout the migration. For holders on exchanges, tokens will be delivered directly to the exchanges, therefore you will not be required to withdraw and migrate, you can leave your holdings alone and it will be handled directly.
Don’t forget to participate in our Galxe quest to get your share of the VEMP Airdop. We will be allocating 25 Million VEMP to airdrops and incentives. Find out more and follow our Horizon Galxe Quest at: https://app.galxe.com/quest/W6ToyEphkZZX6G8n6Cmijn/GCQYLtKHQ8 (Phase Complete).
