Breaking down the Everscale token migration
As you are most likely aware, Broxus has been hard at work on a token migration that has affected almost all platforms on the Everscale network. In this article, we are going to take a look at what the token migration was, why it was necessary and what users need to do as a result of it.
Why the migration was necessary
For the past three months, our developers have been putting the pieces in place for a network-wide upgrade that has included the rollout of new versions of almost all Broxus platforms. Key to the shift to new platforms was the way that the old versions of Everscale tokens were implemented. Our devs uncovered a bug in the old token implementation, which resulted in the decision to launch a global upgrade in order to improve network capabilities. While the bug did not constitute a risk to the security of user funds, nonetheless, it was significant enough to warrant an upgrade. Further details on the bug will be released once the Dapps on the Everscale network have updated to the new tokens.
The second major cause of the migration was the establishment of a new token standard, TIP-3.1 for Everscale tokens. After a year of using the TIP-3 token standard, we determined that it needed to be improved for our Dapps and platforms to be able to better function. Because the old tokens are no longer compatible with the network, every token must be upgraded to the new standard. You can find the documentation for the new standard here. Part of the new standard has introduced upgradability into the tokens. So, while we don’t intend to have another migration any time soon, now we have upgradability, which makes everything a lot easier.
The new Broxus platforms
This brings us to our new look platforms. In order to upgrade your Everscale tokens, all you have to do is bring them in your wallet to our new Bridge: octusbridge.io or to our new DEX: flatqube.io. These platforms will scan your tokens automatically and, if an upgrade is necessary, you will get a popup that will walk you through the process. By the way, we think you are really going to like the UX for these platforms, we are quite pleased with how everything has turned out.
We have released new versions of the following platforms:
- https://tonswap.io -> https://flatqube.io
- https://tonbridge.io -> https://octusbridge.io
- https://wton.io -> https://wrappedever.io
WTON will no longer be used on any of our platforms for farming, pools, staking, bridge transactions, etc. Instead, the new wrapped token will be WEVER. As a result, you will have to unwrap your WTON tokens to EVER tokens on https://wton.io and then wrap them to WEVER on https://wrappedever.io.
In a few weeks, WEVER will be integrated into our new Octus Bridge, which will allow you to transfer them to any of the connected networks, like Polygon or BNB Chain. The integration of WEVER into the Octus Bridge will be different from any other integration (eg USDT, WBTC, etc). No WEVER tokens will be burned on EVER->EVM token transfers. Instead, they will be locked in the Proxy contract and unlocked in EVM->EVER transfers. This means that the WEVER total supply won’t increase or decrease on cross-chain token transfers. You can find the current implementation of WEVER contracts here. One important feature of the new implementation is the ability to attach the payload onto WEVER wraps and unwraps. This essentially enables you to build continuous action chains via WEVER.
The Octus Bridge (ex TON Bridge)
Now, let’s look at the Octus Bridge. Our devs built Octus from scratch, including the last round relays in the genesis round. Each relay on the Octus Bridge has to redeem BRIDGE tokens from the old Bridge (https://v2.tonbridge.io/) and relaunch the relay node with the appropriate configuration. Then they have to upgrade their BRIDGE tokens on the new Octus Bridge: https://octusbridge.io and stake them.
The FlatQube DEX (ex TON Swap)
Our new FlatQube DEX was also built from scratch. Users of the old DEX have to remove their liquidity from the old version (v4.tonswap.io) and upgrade their tokens to use https://flatqube.io. To help you with this process we have put together a set of simple instructions for you to follow here. Although it may seem daunting, we assure the process is short and painless.
Once again, we would like to thank our community for their patience and support throughout this process. We did all of this for you. The future for Broxus and for the entire Everscale community is bright, and we could be happier that you are with us on this journey.
N.B. Considering the scale of the migration and all the different platforms that have been upgraded, there may be rough edges that will need working out and confusion for those using the new platforms for the first time. We have a Telegram group dedicated to support, where we will happily assist you with any problems that might arise. Additionally, we have an updates channel on Telegram where you will be able to follow all the latest developments as they happen.
For help head here: https://t.me/OctusBridge (+ Russian group: https://t.me/tonbridge_official)
And for updates, here: https://t.me/broxus_defi_updates