# Legacy Token Upgrade

Starting April 9, 2022, all ELK token holders can upgrade their existing ELK tokens (which will become oELK, standing for "old ELK") to the new ELK token at a 1:1 ratio. (**Note**: ElkNet v1 will continue to accept cross-chain transfers of oELK until April 24).

<mark style="color:green;">The new Elk dApp has come out of beta and is now</mark> <mark style="color:green;">**live**</mark> <mark style="color:green;">on</mark> [<mark style="color:green;">app.elk.finance</mark>](https://app.elk.finance/)<mark style="color:green;">.</mark> ElkNet v2, along with the new farms, are all active there.

<mark style="color:red;">The old dApp, along with ElkNet v1 and all the old farms can now be accessed at</mark> [<mark style="color:red;">**legacy.elk.finance**</mark>](https://legacy.elk.finance/)<mark style="color:red;">.</mark>

### Tutorial - How to Upgrade your $ELK Tokens:

{% embed url="<https://www.youtube.com/watch?v=tdJlZjf4-oI>" %}

{% hint style="info" %}
To exit old farms & break the LP for upgrading your oELK tokens, please do that in the [legacy.elk.finance](https://legacy.elk.finance/).

**Old farms will not appear in app.elk.finance after the upgrade!**
{% endhint %}

**1.** Go to app.elk.finance after the 9th of April, navigate to the **Upgrade $ELK** tab on top of the left hand menu, and click **Approve Upgrade** to authorize the upgrade\*\*.\*\*

{% hint style="info" %}
After the 9th of April, the old $ELK token logo will turn purple and will be called oELK
{% endhint %}

![The upgrade button will appear on top of the lefthand menu](/files/jVdRxODWbz3QLl3M81yO)

**2.** After approving the upgrade, you can upgrade $oELK 1:1 for the new $ELK. When you upgrade for the first time, you will be asked to respond to a series of questions, which are part of Elk's first governance vote.

Remember to remove $ELK from existing LP tokens and single-sided pools. You can upgrade multiple times as needed.

![This image is a prototype template & the final layout and text can be different in the live version of the dApp.](/files/pVPOAmB8LtllNJvy3Guc)

{% hint style="info" %}
Read more about the creation of an [insurance fund against attacks, funding terms for ElkLabs, the vesting clock for developers](https://github.com/LtSnakePlissken/ElkGitBook/blob/19122023/elk-history/elk-legacy-information/broken-reference/README.md) & the [upgrade lottery](https://github.com/LtSnakePlissken/ElkGitBook/blob/19122023/elk-history/elk-legacy-information/broken-reference/README.md).
{% endhint %}


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