XIO on Avalanche: reimbursement on Mainnet
For a limited time, XIO token holders on Avalanche network will be able to get reimbursed 1:1 tokens on Mainnet
The deadline to act is end of day UTC of Sunday, November 5th 2023, approximately 1 month after this announcement
Why is there a reimbursement?
On July 6th 2023, the multichain.org bridge permanently went down, making it impossible to bridge XIO tokens back from Avalanche to Mainnet.
At this time it appears these tokens will never be recoverable, the bridge is expected to be down forever.
There is planned to be an upcoming proposal that allows XIO on Mainnet to be burned for FLASH and EPOCH tokens from the Blockzero Treasury. The only way for Avalanche XIO to participate in that future proposal would be to act on this announcement and send your Avalanche XIO to the burn address and wait for your Dropzero claim on Mainnet.
How to qualify for this reimbursement?
Do either of these between July 6th and November 5th:
- 1) you have attempted to bridge XIO tokens from Avalanche to Mainnet using multichain.org’s “swapout” call on any date after July 6th 2023, which would have failed and your XIO tokens were lost and never showed up on Mainnet
- 2) you have sent your XIO tokens on Avalanche directly to either the dead address https://snowtrace.io/address/0x000000000000000000000000000000000000dead or to the burn address https://snowtrace.io/address/0x0000000000000000000000000000000000000000
If you do not act, have not qualified with an on chain transaction by end of day November 5th, there will be no future windows provided and you will not be eligible for Mainnet XIO reimbursement.
When is the reimbursement expected?
XIO reimbursement claimable on Mainnet is planned to be uploaded to the Dropzero dapp by around November 15th.
You will not need to contact anyone, fill out any forms, lodge any support tickets. If you did the qualifying action before November 5th, you will simply go to the dropzero dapp after the claims are live to claim your XIO on Mainnet.
What if I am a XIO Liquidity Provider on Avalanche?
You can remove your liquidity and send only your XIO tokens to the dead/burn address to qualify.
What if I own a Tier3 Cryptonaut on Avalanche?
If you own any Tier3 Cryptonauts on Avalanche, now would be the time to rescue their XIO by burning the NFT: https://zero-gravity.blockzerolabs.io/ and then sending that XIO to the dead/burn address to qualify.
How this is being facilitated?
There are approximately 4million XIO that have bridged to Avalanche that are affected.
In the near future, 4million XIO on Mainnet will be moved, for accounting purposes, from the Blockzero Treasury to a new multisig that will exist specifically for this purpose of Avalanche XIO reimbursement.
After the upcoming planned proposal for “XIO Burn” is passed or not passed on snapshot, all remaining XIO in this new multisig will either be sent back to the Blockzero Treasury, or will be burned, depending on that proposal’s outcome.
Got questions?
Blockzero discord: https://discord.gg/gn5y9xn8zR
