What We Need to Know about Hyperion Mainnet Migration

Published in

Hyperion

6 min readOct 22, 2020

Token swap and Ethereum-based Map3 staking contract migration will be open to all at 21:00 (GMT+8) on October 27th. We furnish users access to 1:1 swap from ERC20-HYN to Atlas-based HYN.

ERC20-HYN will be swapped in HSWAP (Titan exchange). After swapping, users can check their balance in mainnet HYN account. Previous wallet address and private key are still valid for transaction and exchange.

Ethereum-based Map3 staking contract migration will be explained in details in the following part.

Please note that token swap will end at 21:00(GMT+8) on November 2nd. ERC20-HYN will be invalid for mainnet function, for example Atlas node staking to earn block rewards!

What are the advantages of Atlas-based token?

Atlas-based tokens can participate in Atlas node staking or hosting. Block rewards can be obtained after initiating a Map3 node and participating in re-staking.

After scaling, Atlas nodes reduce the minimum staking amount by almost half compared with the previous one, encouraging more users to participate in a more decentralized way.

The fee for transaction between HSWAP account and wallet is negligible, a more secure way to exchange assets with HSWAP on Atlas. The demands for HYN will increase as Hyperion ecosystem grow mature.

Why Should I participate in Atlas Node Staking?

According to PoH consensus, Hyperion users who participate in staking are divided into 3 layers: Titan, Map3 and Atlas. In Titan layer, token holders participate in micro-staking to launch a Map3 node; Map3 nodes compete for Atlas block rewards by participate in re-staking, with 88 nodes receiving block rewards. 3-tier staking structure ensures all HYN holder can participate in Hyperion consensus network no matter how many tokens they hold. Meanwhile, consensus and scaling mechanism will ensure all participants with an open and fair opportunity to participate, contribute to Hyperion ecosystem and be rewarded regardless of whether they are early participants in Ethereum-based Map3 staking contract or users who participate in nodes staking after they have been migrated to Atlas.

How to Migrate Map3 node v0.8 to Atlas?

Since the migration, previous Map3 contracts have been locked, which means users can’t stake anymore in them. We furnish the following migration plans for those users who participated in staking contact before mainnet launch. Users can migrate nodes on Atlas according to their current situation.

For those Map3 nodes v 0.8 which haven’t been initiated

The nodes that are still at crowd-fund period and approaching the deadline of migration will not be available for staking and nodes which have insufficient staking amount of HYN will fail to initiate and will not be migrated on Atlas.

For those Map3 nodes v 0.8 which have been running

If your nodes have been successfully initiated, they will be migrated in different ways depending on the remaining lockup period. Ethereum-based Map3 staking contracts will be migrated after renewal.

What’s the Difference Between Renewal and Re-initiating a Node?

For Ethereum-based Map3 staking contracts, especially those which are about to expire, it’s essential to decide whether to renew the contract or not. Once the initiator decides to renew the staking contract, it requires a 7-day lockup period, it will be migrated on Atlas.

Let’s take a look at the differences between staking contract renewal and initiate a new one before proceeding migration steps.

Staking amount after migration

The minimum staking requirement of Map3 node was 1 million HYN, however, the minimum staking amount has been reduced to 550K HYN after launching the mainnet. The participants can stake more to exceed the minimum staking amount

For example, in the first scaling period after Atlas went live, minimum requirement for Map3 node staking will be dropped to 550K HYN. In that case, previous requirement is far more than current one. If the old staking contact is renewed, staking requirement will still be a million, which has no advantage over those Map3 nodes which re-stake on Atlas when compete with them.

Rewards for Atlas node

Rewards for Atlas node are from block production. Each participant obtains rewards based on 2HYN every 6 seconds after an epoch (roughly a day), rewards will be distributed pro-rata to their staking. According to previous rule, the rewards couldn’t be obtained until the contract expires or half time before the expiration. The rewards for mainnet node can be obtained when each epoch ends, which provides HYN more liquidity.

Lockup period

Staking will be in a 7-day lockup period before the next move, cancelling staking, for example. Staking will be locked for 180 days after node renews, the same with the previous lockup period.

After your node expires, the node age will be 180 days and node age can be cumulative after renewal.

What if the staking contract is not renewed?

If the initiator decides not to renew the staking contact, the node will not be migrated. After it’s expired, cumulative node age will also be null.

Different Ways of Migration Depending on Different Remained Lockup period

Normally, 14 days will be left for initiator and delegators to decide whether to renew or not according to mainnet staking rules. Before node expires, the initiator can decide the renewal within the first 7 days, then within next 7 days delegators will decide whether to follow or not. We offer different plans for contracts with varies remained lockup periods, given that the expiration of Ethereum-based staking contracts varies.

For those staking contacts which expires before migration day (October 27th)

As the expiration approaches, there will be insufficient time for initiator and delegators to decide whether to renew. In this case, these contacts can’t be renewed.

As long as the initiator swaps his token and initiate a Map3 node in 48 hours, the node age can still be cumulative.

After V0.8 Map3 node staking contract is expired, each delegator can withdraw their tokens, including rewards, or the initiator can withdraw tokens for all including rewards and distribute them to each delegator.

For those staking contacts which will be expired after migration in 7 days
If V0.8 Map3 node staking contract will be expired 7 days after the migration, both initiator and delegators should decide whether to renew Map3 node staking contract, therefore our customer service will ask each initiator, to leave more time for delegators.

If the initiator decides to renew, Map3 node staking contract will be automatically migrated on Atlas. Delegators can check the updates on Titan for Map3 node renewal updates. There will be 2 results if the delegators decide to renew.

If the staking amount reaches 550K HYN, Map3 node will be initiated immediately; if not, there will be a crowd-fund period. Delegators can withdraw their delegations after a 7-day lockup period.

If the initiator decides not to renew, V0.8 Map3 node staking contract will be expired. Participants can’t withdraw their token. Instead, their assets will be distributed by Hyperion Foundation, with Atlas-based HYN.

For those staking contacts which will expire after migration in 14 days
The contract will be automatically migrated on Atlas as long as V0.8 Map3 node expires 14 days after migration, which means participants will get Atlas-based HYN when they withdraw tokens and rewards regardless of renewal or not.

Users can check how many days remain for them to make decision in Titan

For those staking contacts which will expire in 14 days after migration
In this case, both initiator and delegators have sufficient time to decide if they will renew — 7 days for initiator and 7 days for delegators to decide whether they withdraw their delegation or not.

If the initiator decides to renew, Map3 node staking contract will be migrated on Atlas. Delegators can check renewal updates in Titan. There will be 2 results if the delegators decide to renew.