Halo to ERC20 Swap Update 9/8/20
The Halo team has been hard at work planning for the migration from the Halo chain onto the Ethereum chain. The complete migration will happen over a period of several weeks as each step necessary to update the software is completed and tested. The order of events will happen in a way to give all Halo users the opportunity to make the swap and be ready for relaunch on Ethereum with plenty of time.
The first thing to happen will be a cancellation of all masternodes. This will happen just like when this was done before to accommodate the split. All nodes will be cancelled and all collateral, as well as all earnings still in the contract will automatically return to their respective owners wallets. The user will not have to do anything for this part. At the same time the dex will also be taken offline. Once this is done users will have the opportunity to consolidate their funds in the wallets of their choosing. Although some users will only have a single wallet, others may use multiple for a variety of reasons.
We will communicate a time at which a snapshot of the chain will be taken. This snapshot will be the basis of the migration. The data taken at the snapshot will be the exclusive balances used to distribute Halo on Ethereum. Any changes in wallet balances after the snapshot date will not be reflected in the Ethereum token distribution event. The team will take the balances of the snapshot as well as the balances from the dex contract and combine them into a single file.
Once that step is complete the team will move forward with the actual token generation event on the Ethereum chain. As part of the new Token Generation Event, your ERC-20 Halo will be distributed on Ethereum to the addresses that match your previous Halo wallet addresses. We will talk more about how to claim those tokens later on. Your new balances will reflect the undoing of the split and will be exactly 1/800th of your snapshot balance on the Halo chain. At this time your Halo will be an ERC-20 token on the Ethereum chain and will be free to move about the chain and be put in other wallets.
Shortly after the token distribution the new staking contract, controller contract and other supporting contracts will come online. We do not have an exact timeline for the gap in time between these events. These contracts are there to support software and products that the Halo team will be putting out on Ethereum for use by anyone on the chain. Your Halo tokens will not be dependent on these being distributed to be free for your use in other Ethereum dapps.
Finally HaloDEX will be brought online on the Ethereum chain with the new contracts and the updated information. We have coordinated with Stex and LAToken in regards to the swap and all your balances there will be converted.
That covers everything that the team will be doing for the swap. The users will have to do their part as well. The Halo team investigated many different ways to perform the migration of wallet balances from the Halo chain onto the Ethereum chain. We looked at exports of json files, custom scripts, and many more involved methods that might not require the end users to directly expose their private keys. After testing several methods we determined that any of those solutions ended up being more complex and more likely to cause error. The most simple, and straightforward method is to export your Halo private keys and import them into an Ethereum wallet. Being that this is the case it will be the path that we recommend to all people with a Halo wallet.
When exporting private keys and then re-importing them for a swap there exists the possibility of exposing the keys. As such, we recommend that everyone have another Ethereum wallet ready for your Halo after the swap. Once you have performed the swap you should move your Halo to your secure wallet and consider the swap wallet to be compromised or burned. Although it may not in fact be compromised we consider this to be the most secure plan any time your private keys become exposed. You may choose to keep your Halo in your swap wallet if you are confident in the security of your private keys during the swap. The ultimate location of the Halo will not matter as long as it’s an Ethereum wallet that is capable of holding ERC-20 tokens
Being as Halo will now be a token on the Ethereum chain it will be subject to all the same rules of moving tokens on Ethereum. This is to say you will need enough Ethereum in your swap wallet to then move the Halo out, which will require spending ETH for network fees. Given the current high gas fees on the network you should make sure to have enough ETH to transfer the Halo in what you consider to be a timely fashion. Paying minimum gas fees could delay the transaction for hours or days as miners work through all the pending transactions.
You will have to export your private keys using browser extension. For those that are unable to use the browser extension for some reason the team has prepared a script to use with Featherlite. We encourage you to use the extension if you are at all able as it is the path with the fewest possible steps and least chance for error. If you cannot get the extension to work a team member will supply you with a script to run with the exported Featherlite json. Regardless of which method you use to export your keys, the import process on Ethereum will be the same. The tutorial below is based on the use of the extension.
Halo Platform browser extension Private Key export instructions:
1. Log into the Halo Platform chrome browser extension if you haven’t already.
2. Click the “Launch Feather” button on the bottom right hand side.
3. On the left, click on the “Settings” tab.
4. Click the three dots on the account that you want to export.
5. Click “Get account private key (unprotected).
6. Enter your Master password (Note: this could be a different password than your login password)
7. Tick the “I understand, show private key” slider, then your private key will be revealed. Click “copy to clipboard”.
8. Open a Notepad text file and temporarily paste in Notepad.
9. If you already have Metamask installed, skip to Step 14. If not, using the link below, install Metamask on Google Chrome. After installing Metamask, click the “Get Started” button.
10. Click the “Create a wallet” button.
11. If you agree with their terms and conditions, click “I agree”.
13. Make sure to click to reveal the secret words and store them somewhere safe if you plan on using this initial wallet at a later date.
14. Click the colorful circle in the top right. Then click “Import Account”.
15. Make sure “Private Key” is selected, then paste your private key that you copied from Step 7. Click the “Import” button.
16. If Metamask doesn’t default to your new Imported account, click the colorful circle in the top right had corner, then your new imported account should display. It should be the same address as your Halo address, but now it is on the Ethereum blockchain.