Lodge Letter #38: ElkNet v2 Launch Week

ElkNet v2 launches Saturday, April 9. Read on for upgrade reminders and the launch week schedule.

Greetings Elks,

It’s launch week! ElkNet v2 goes live on Saturday, April 9, 2022, exact time to be announced.

Mark your calendars 📅 | There will be a special pre-launch Q & A with Baal in Elk Telegram on Friday, April 8 at 20:00 UTC (16:00 EST). This event will replace the regular Friday Night Social.

Remember, you need to upgrade your ELK tokens as part of the ElkNet v2 release, and the community will holds the first Elk governance vote as part of this upgrade. For full details on the new contracts, you can review the launch overview article (7 min. read).

Here is a preview of the upgrade menu with the governance questions:

All existing ELK will display as oELK (old ELK). All oELK tokens will be swapped 1:1. The upgrade is irreversible, and tokens can be upgraded on any supported network. It’s recommended (not required) that you withdraw your tokens from old farms and pools in order to migrate all ELK at the same time.

New farms will be live as soon as ElkNet v2 is live, but current farms will continue to distribute rewards until Tuesday, April 12. This overlap is designed to allow users to migrate at their convenience.

Cross-chain transfers on ElkNet v1 will be disabled on April 24. Withdrawal fees for single-staking pools are being waived for the upgrade.

There will be a token upgrade raffle with 20,000 ELK in prizes. Two hundred users who upgrade within the first week will receive 100 ELK each. Here are the updated terms for entering:

• The entry period has been shortened to one week and will run from April 9 to April 16 (23:59 UTC)
• To enter, you must transfer a minimum of 250 ELK in a single transaction. The button to enter the raffle will not appear unless you transfer 250 ELK, so multiple upgrades adding up to 250 will not be eligible
• Winners will receive rewards on Avalanche before April 24, 2022
• Limit 1 entry per wallet

If you have questions about ElkNet v2 or anything above, ask in chat–and don’t forget to join us for the live Q&A on Friday!

It was a fantastic week for weekly volume (nearly 5 million) and newly onboarded users (up 7+%, passing 40,000 users), signaling a healthy market heading into the v2 update.

In addition to the special pre-launch AMA on Friday, we will be hosting an AMA with Hoo Smart Chain (HSC) in the Discord Elk Lodge on Thursday, April 7 at 16:00 UTC. Drop in and show your support, #ElkHerd.

The new Elk app continues to improve from community feedback. Here’s a list of updates from the last week:

Elk App Changelog from 28 Mar to 3 April:

Improved:

• Renamed network “BNB” to “BNB Chain”
• Added back button on a Farm screen
• Moved “+ Send to different address (optional)” to the left on ElkNet page to make it more visible
• Improved look & feel of Remove Pool Liquidity screen
• Added scroll down to “Latest Transfers” after ElkNet transfer submit
• Updated Favicon

Fixed:

• Fixed Stake menu icon size
• Fixed ElkNet Transfers markup bug with big ELK amount
• Changed ELK token name from “ELK-V2” to “ELK” (bug was inherited from uniswap)
• Fixed repeated WalletConnect/Coinbase QR code generation after closing the first QR
• Fixed Price updated state on the Swap page

Updated

• Rewritten the wallet connections module with a lot of fixes

Remember, you can share suggestions here.

Have a great week!