Farm Migration Plan for new Avalanche Bridge tokens
Ava Labs recently announced the new Avalanche Bridge (AB), which is cheaper and faster than the old one; both things we love to hear!
However, one of the caveats is that the old bridged assets now have a completely different contract address to the new bridged assets.
The naming convention for the new bridged assets is:
For example, LINK from Ethereum is LINK.e, BNB from BSC will be BNB.b, and etc.
So what about the old bridged assets like ETH, LINK, WBTC, UNI, AAVE?
Well the old bridge is deprecated which means you’ll need to convert the old assets to the new ones using Ava Labs’ convert tool.
To support this migration, Trader Joe will be stopping emissions to all the old farms on Monday Aug-16 10am EST and opening the new farms at the same time. We recommend everyone to upgrade their old bridged assets to the new ones.
The farms that will be converted are:
AVAX/ETH → AVAX/ETH.e
AVAX/USDT → AVAX/USDT.e
AVAX/WBTC → AVAX/WBTC.e
AVAX/LINK → AVAX/LINK.e
DAI/USDT → DAI.e/USDT.e
JOE/USDT → JOE/USDT.e
WBTC/USDT → WBTC.e/USDT.e
USDT/ETH → USDT.e/ETH.e
LINK/USDT → LINK.e/USDT.e
All other farms will remain unchanged.
If you are currently staked in the above farms, please follow the steps below to re-stake your tokens in the new farms.
We use DAI/USDT → DAI.e/USDT.e as an example.
Step 1: Unstake from the DAI/USDT farm:
Step 2: Remove liquidity from the DAI/USDT pool:
Step 3: Goto https://bridge.avax.network/select/convert and select USDT to upgrade it to USDT.e (your Metamask will pop up and it will cost gas to perform this):
Step 4: Repeat step 3 but this time to upgrade DAI to DAI.e.
Step 5: Add liquidity to the DAI.e/USDT.e pool:
Step 6: Finally, stake your LP tokens into the DAI.e/USDT.e farm (currently haven’t added the farm yet, but it will be up on Monday 10am EST).