MLN Token Migration Event
The MLN token will be subject to a token migration event starting on February 1st, 2019.
WARNING: Sending old MLN tokens to an exchange address AFTER February 1st 2019 could lead to an indefinite loss of your MLN tokens which Melonport can not be responsible for.
As you may know, the Melon protocol v1.0 is expected to be released to the main net by end of February 2019. In light of the upcoming v1.0 release, we will need to perform a token migration in order to accommodate for main net features and inflation.
Starting February 1st 2019 3PM CET, the address of the new MLN token contract will be: 0xec67005c4e498ec7f55e092bd1d35cbc47c91892
The new MLN token contract and the migration contract have both been audited by 2 independent parties (Solidified and ChainSecurity). Code for both contracts is available on Etherscan and on our Github.
If you have your MLN tokens on an exchange (Kraken, Bittrex, Bitfinex) before February 1st 2019 3pm CET, you have no action to take. The exchanges will proceed to the token migration on February 1st 2019 at 3pm CET.
If you hold your MLN tokens in any other wallet (self custody), you will need to proceed to the token migration by yourself. We published a detailed guide to do so using MyCrypto; if you follow exactly the steps, it should not take you more than 10 minutes to migrate (under normal network conditions). There is no rush either, you can proceed to this migration anytime you like from February 1st 2019 onward.
The published instructions will guide you through the 2 steps necessary to a successful migration:
- Call the approve() function on the old MLN token contract, passing in as an argument the migration contract address for spender and the amount of MLN tokens your address owns. This will give approval to the migration contract to move your old MLN tokens.
- Call the transmute() function on the migration contract with the amount of tokens you’d like to migrate; this will transfer your old MLN tokens to the migration contract and the migration contract will transfer brand new MLN tokens to your address.
If you are a service provider or chain explorer, we kindly ask you to update your reference to the MLN contract address from the old address to the new one on February 1st after 3PM.
OLD MLN TOKEN ADDRESS: 0xBEB9eF514a379B997e0798FDcC901Ee474B6D9A1
NEW MLN TOKEN ADDRESS: 0xec67005c4E498Ec7f55E092bd1d35cbC47C91892
MIGRATION CONTRACT ADDRESS: 0x3c75d37b579e0e4896f02c0122baa4de05383a6a
If you have any questions or need help, please join our public telegram channel.
If you are an exchange or service provider and have unanswered questions, please email firstname.lastname@example.org.
MLN TOKEN, WHAT CHANGED?
- New initial total supply: 932,613 MLN
As explained in Melonomics 3, Melonport AG had planned to burn the remaining non issued and non distributed tokens. Melonport AG has proceeded with two burning events:
(i) Minting the non issued 248 000 to the 0x0000000000000000000000000000000000000000 address (see transaction hash here)
(ii) Burn the issued and non distributed 69 388 MLN tokens remaining from the Olympiad (see transaction hash here)
The initial total supply is thus reduced from 1,250,000 MLN tokens to 932,613 MLN tokens.
- Inflation enabled: Inflation will start on March 1st, thereby allowing the minting of 300 600 MLN tokens each year to the Council address (see Melonomics 3).
- Burning enabled: the burning functionality is now embedded into the token contract, for the purposes of the Melon Engine model (see Melonomics 2).
If you have any question, please join our public Telegram channel.