The updated Twindex 2.0 is coming up really soon! The update will come with:
TWX, which would replace the current TWIN token with some adjustments
tAssets, which is an upgraded version of the current dAssets
If you have not heard about the new update, you can read our article regarding why and how this change would be beneficial on our Medium blog here. More details about TWX token and the full details of the update will be announced in the coming days.
This migration guide serves as a preparation for our valued investors. Please follow us closely if there are any changes to the migration plan.
The migration is divided into three phases:
Phase 1 (Migration Phase - 31 August 2021):
Introducing TWX token
Converting TWIN to TWX
Migrating the legacy TWIN farm pools to new TWX farm pools
Migrating the legacy DOLLY-dAssets farm pools to KUSD-dAssets farm pools (optional)
Gradual deprecation and migration for existing dAsset tokens.
Please refer to the following guidelines and information for your best migration experience.
For TWIN token holders
If you are holding TWIN tokens, you can convert TWIN tokens directly to TWX tokens with a 1:1 ratio on https://twindex.com/#/convert (Coming soon). The converter will be released in Phase 1 of the migration (see below)
Convert page for TWIN -> TWX token
For dAsset tokens holders
Due to the technical constraints of dAsset tokens and tAsset tokens, it is impossible to convert your dAsset to tAssets directly. However, we recommend everyone to close the position and migrate to Twindex 2.0 mechanism in order to benefit from a new mechanism. Our long-term plan is to eventually migrate all dAsset tokens to tAsset tokens. However, due to the extreme premium and discount situations with Twindex 1, we will offer the gradual process after Twindex 2.0 launch which might happen across several months after the release:
If you want to migrate to tAsset tokens,
you could do it right after Twindex 2.0 launches by redeeming your old token. All dAsset tokens will have their own tAssets counterpart. For example, there will be tAAPL which is the upgraded token of dAAPL
If you want to keep your dAssets for now,
you could migrate to KUSD-dAssets pools when Phase 1 starts and wait until premium/discount problems are resolved with following mitigation
If your dAsset tokens are at a discount,
we will gradually buy dAsset tokens on Twindex v1 in order to make the price closer to the Oracle, which would allow the users to sell or redeem the tokens with minimum loss. We will migrate dAsset by dAsset in which we would make announcements in advance.
If your dAsset tokens are at a premium or you are in a minting position,
we will gradually provide more liquidity on KUSD-dAsset pools to reduce the price impact when your dAsset is redeemed. Similar to the above, we will migrate dAsset by dAsset in which we would make announcements in advance.
If you are farming in DOLLY-dAssets pools, you could choose to migrate to the following pools:
KUSD-dAssets pools. These farms will be active in Phase 1. Current DOLLY-dAssets pool will also be deprecated on the same day. The multiplier will be kept the same on phase 1, but will likely be reduced a lot when Phase 2 starts.
KUSD-tAssets pools. These farms will be active in Phase 2. The multiplier on these new pools will be similar to current DOLLY-dAssets multiplier.
Phase 1: Migration For TWX Token, TWX Pairs, and DOLLY-dAssets Pools (31 August)
TWX Token, TWX Pairs, and DOLLY-dAssets Pools investors can start migrating their assets to new farm pools from Tuesday, August 31 onwards. Please see below the schedule for your reference: