ETH Holders: How to redeem your BTH using Metamask
--
IMPORTANT: If you have not yet viewed the FAQ section on BTH redemption at the bottom of the website, please do so before reading this redemption guide. In addition, you can check out more about Bithereum in our white paper.
Since Ethereum and Bitcoin interact with transactions on entirely different blockchain implementations and with completely dissimilar address spaces; Bithereum will introduce a mechanism that will give you the ability to redeem BTH proportional to the amount of ETH you have.
To redeem BTH as an ETH holder, you must first send a 0 (zero) ETH transaction along with the your newly created BTH address (as a hex string in the data field) to the ETH redemption smart contract.
The ETH redemption smart contract pairs your ETH address to your BTH address (or pre-spork BTC address) and is referenced by the Bithereum oracle after the fork. The Bithereum oracle triggers the issuance of BTH from the ETH holder BTH allocation generated from the Bithereum genesis block.
IMPORTANT: Once the spork happens, the BTH transferred by the Bithereum oracle to the BTH address (specified in your zero ETH transaction) will be proportional to the balance of your ETH address directly prior to the spork block. For example, if you have a balance of 3 ETH when you send the 0 ETH transaction to the redemption smart contract and decide to send 1 ETH to another ETH address; the amount of BTH you will receive to your BTH address will be proportional to 2 ETH. In other words, the ETH redemption process must be completed for all ETH addresses with an Ether balance prior to the spork block.
Without further ado, here are the steps for redeeming BTH using MetaMask.
Step 1: Open MetaMask
Log into the Metamask Chrome Extension and choose the send option.
Step 2: Add the hex version of your BTH address to your transaction
Note: If you don’t have a hex version of your BTH address or have not created a BTH address, go here before proceeding with this step.
Paste the HEX output BTC address you generated earlier into the field under “Transaction Data (Optional)”.
Step 3: Provide redemption contract address
Once you have gained access to your account, input the following bithereum redemption contract address into the “To Address” field:
0x3C2C10e5Ecd073D9ee238493D338Ec6e3d7281C6
Step 4: Generate and send your 0 ETH transaction
Click “Next” to see the below screen, confirm that everything was entered in accurately, and proceed with the transaction by clicking “Submit”.
Step 5: Confirm redemption
You can now verify on the site to confirm that your redemption process was successful by looking for your successful transaction directly on the Bithereum redemption smart contract using Etherscan.
