Migrating Your Assets
Last updated
Last updated
On Feb 28th, 2022, the team attempted to move the protocol to a more decentralized state by setting the DevAddress of our masterChef contract to the Zero address. The masterChef contract is the contract responsible for VTX minting. This is a common practice in crypto; however, this action resulted in transactions being reverted due to a nuance in the way our contracts emit VTX.
Funds were never in jeopardy, as they are stored in the mainStaking contract - a multi-sig contract owned by the Platypus and Vector teams.
To read more about what happened, please see our Medium article here: https://vectorfinance.medium.com/important-announcement-152e0c99d506
In order to resolve the issue of reverting transactions, our team upgraded the mainStaking contract and deployed a new masterChef. This also meant that we needed to deploy a new VTX token. This new token is convertible at a 1:1 ratio on our site. LP can also be converted at a 1:1 ratio on our site.
All deposited funds will need to migrate to our new staking contracts. We have created a migration page where users can do this. Details on this page and how to migrate below.
Migrating funds is necessary in order to withdraw your funds or re-stake them on the updated site to begin receiving emissions.
You can find our page for token migration here https://vectorfinance.io/#/migration. Once there you'll see the following:
A breakdown of your assets staked on v1 of the protocol and in your wallet.
Functions to Migrate the assets in your wallet to v2 of the protocol.
Functions to Withdraw your funds, Stake them on v2 protocol, and to claim your rewards.
If you have assets from v1 of the protocol in your wallet, the balance will be shown under the appropriate section under "Migrate wallet funds". To migrate these funds to v2 of the protocol:
Make sure your wallet is connected to the site.
If prompted, use the functions under the wallet section to Approve using your VTX tokens or VTX/AVAX LP tokens.
After approving the use of your tokens click or tap to Migrate your tokens.
Once the tokens have been migrated to v2 of the protocol, their balance will appear in that section. You can then use the other sections of our site to Stake them.
If you have staked assets from v1 of the protocol, the balance will be shown under the appropriate section under "Migrate staked funds". To migrate these funds to v2 of the protocol:
Make sure your wallet is connected to the site.
Identify the type of asset you would like to migrate (USDC, Staked VTX, etc.).
Click or tap Withdraw. This will remove your tokens from the v1 staking. Note: you must continue to the next step to migrate your tokens completely.
Once your assets are withdrawn the option to Stake will become functional. If prompted, use the functions on the page to Approve using your tokens. Once approved, click or tap to Stake your funds in the v2 protocol. This will complete the migration of your assets to v2 of the protocol.
Once you have completed step 2 (staking), you can go to the Stake tab of our website to make sure your funds are there. From here, you will be able to leave your funds staked to continue accruing rewards, or you may withdraw
Don't forget to Claim to claim your reward emissions.
While my funds were staked in version 1 of the protocol were they earning rewards, and will I have those after my migration?
Yes, all protocol rewards continued to be earned while staked in version 1. After withdrawing and staking your funds on version 2, you can claim those rewards from the migration page. We have retroactively applied additional rewards to everyone as an apology to the community and a thank you for everyone's understanding and patience as we upgraded the contracts.
Do I need to migrate my tokens from the Rocket Joe launch?
Yes, we have begun to migrate our protocol owned liquidity to the new VTX address. This is where all incentivized LP will live going forward, including the Trader Joe Double Farm. You can migrate your Rocket Joe LP on the top right of the migration page on our website at a 1:1 ratio.
Can I still buy tokens from version 1 of the protocol and will they be usable on version 2?
Yes, if liquidity is available you can buy those from Trader Joe and then use the migration page to migrate those to version 2 of the protocol. However, going forward we highly advise everyone to use the new liquidity pool which will have more liquidity, and will give you direct access to the new VTX token which will be used for staking, locking, and governance. Any old VTX token acquired will have to be converted (and can always be done at a 1:1 ratio on our website).
Why cannot I not see my funds on the site?
A: This may occur for if your wallet is not connected to the site, you've not waited long enough for the page to load, or you've only done step #1 to withdraw the funds and have not done step #2 and staked them in the new contract.
Why am I getting an error when withdrawing?
If encountering an error while withdrawing using the "Max" button, try removing some of the decimals. What if I am having trouble with migration? Make sure you complete the migration process for each of your assets on V1:
Connect your wallet - balances may take a moment to load
Withdraw your funds for each asset type (USDC, Staked VTX, etc.) - if an error occurs remove some decimal points from the displayed amount
Approve staking the funds
Stake those funds
Once you've done so for each asset type the migration is complete. You can then interact with the protocol from the main site and no longer need to need to use the migration page. If you are trying to withdraw your stablecoins you may need to up the slippage under the gear icon on the Stake tab. Note: you must stake each asset type to move it to version 2. You cannot just withdraw the funds.
What if I am having issues withdrawing after I've migrated?
This could happen for a couple of reasons.
Make sure you've already used the "Migration" tab to withdraw and stake your assets on V2.
Open the "Stake" tab. If you hit max try removing several or all decimals in the total.
Try increasing your slippage under the gear icon on the "Stake" tab.
