SAFE to SAFE2 Migration Details

Greetings COVER Community,

Thank you for your support and your patience.

We have deployed the migration contract and $SAFE2 token for the interim migration. Migration will start at 12am September 26th, 2020 UTC, and end at 12am October 1st, 2020 UTC. There are five days to migrate from $SAFE to $SAFE2.

Please create reminders if necessary. For your convenience, we have created this Google Calendar Event.

The Steps to Migrate $SAFE to $SAFE2

  1. Make sure you have collected all your $SAFE and have your full balance of $SAFE in your wallet.
  2. Go to https://yieldfarming.insure (the one and ONLY website to migrate).
  3. Select the “Migrate SAFE to SAFE2” box.
Image for post
Image for post

4. You will see the balances of your $SAFE (verify you have the full amount) and $SAFE2 (0 at this point).

Click the “Migrate {X} SAFE to {X} SAFE2” button ({X} is the amount of tokens you have).

Approve the $SAFE tokens for the migration contract.

After approval, click the “Migrate {X} SAFE to {X} SAFE2” button again and perform the transaction.

Image for post
Image for post

5. Once the transaction completes, you will receive 1:1 $SAFE2 tokens. The balance of your $SAFE will be 0. The balance of your $SAFE2 will be the same amount ({X}) of your $SAFE before migration.

Image for post
Image for post

6. To see the $SAFE2 token in your wallet (i.e. MetaMask), you may need to manually add a custom token for $SAFE2. SAFE2 token address is 0x250a3500f48666561386832f1F1f1019b89a2699.

7. You have now migrated! Thank you!

Advisory for Farmers

  • If you are in pools 1–3, no action is required. However, after the migration, the SAFE tokens you farm will NOT be eligible for $SAFE2 migration. So please migrate any farmed SAFE tokens before the deadline 12am October 1st, 2020 UTC.
  • If you are in pool 4 (DAI/SAFE 98/2), please stop providing liquidity as soon as possible and migrate your $SAFE following the instructions above.
  • If you are providing liquidity in any other DEX (Uniswap), please STOP providing liquidity as soon as possible and migrate your $SAFE following the instructions above.

Important Notes

  • Please only use the website we provide to migrate, do NOT send your tokens directly to the migration or SAFE2 contract.
  • After 12am October 1st, 2020 UTC, your $SAFE tokens will NOT be migrated to $SAFE2 tokens. Farming for $SAFE will be considered finished. Only $SAFE2 tokens will be migrated to COVER tokens after COVER protocol launches.
  • Any yNFT coverage which remains active can be sold on secondary markets, this is mentioned in a tweet from Andre Cronje. You can sell your yNFT coverage on Rarible or OpenSea etc.

Contracts:

SAFE contract: 0x1aa61c196e76805fcbe394ea00e4ffced24fc469

SAFE2 contract: 0x250a3500f48666561386832f1f1f1019b89a2699

Migration contract: 0xcbf8412e939b7712251eb5ec07220573283a4e90

We’ll communicate again on October 1st when the migration is complete.

Thank you all.

The COVER Team

Image for post
Image for post

Get the Medium app

A button that says 'Download on the App Store', and if clicked it will lead you to the iOS App store
A button that says 'Get it on, Google Play', and if clicked it will lead you to the Google Play store