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Elk Token Upgrade - TUTORIAL
To deploy the ElkNet Reservoirs, we will be upgrading to a new ELK token contract.
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).
The new Elk dApp has come out of beta and is now live on app.elk.finance. ElkNet v2, along with the new farms, are all active there.
To exit old farms & break the LP for upgrading your oELK tokens, please do that in the legacy.elk.finance.
Old farms will not appear in app.elk.finance after the upgrade!
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.
After the 9th of April, the old $ELK token logo will turn purple and will be called oELK
The upgrade button will appear on top of the lefthand menu
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.
Read more about the creation of an insurance fund against attacks, funding terms for ElkLabs, the vesting clock for developers & the upgrade lottery.
Last modified 1yr ago