NUTS Finance
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NUTS Finance

autoBTCv2+ Migration Guide

Autofarm has undergone Venus v2 Vault migration on April 9, 2021. According to Autofarm, the vault migration aims to provide enhanced security and optimized earnings for Autofarm users.

Autofarm migration details can be found here: https://medium.com/autofarm-network/venus-v2-vaults-fe41553ca283

To cope with the Autofarm migration, autoBTC+ users are required to migrate staked autoBTC+ assets to the new autoBTCv2+ vault in order to continue earning rebased interests and AC rewards.

To differentiate between new and old autoBTC+ vaults, please take note of the following naming conventions:

Migrated vault = autoBTC+

New vault = autoBTCv2+

Migrating to autoBTCv2+

Step 1: Withdraw staked autoBTC+ from autoBTC+ vault. Remember to claim any unclaimed AC rewards.

Step 2: Redeem autoBTC+ into BTCB

Step 3: Mint autoBTCv2+ with BTCB

Step 4: Deposit the newly minted autoBTCv2+ into autoBTCv2+ liquidity pool

Supplemental Information

Autofarm has also introduced a new fee structure for their Venus v2 vaults:

At the launch of Venus v2 vaults

  • Withdrawal fees: 0.1%
  • Entrance fees: 0%

3 days after the launch of Venus v2 vaults

  • Withdrawal fees: 0.1%
  • Entrance fees: 0.1%

Once v2 vaults go live, old vaults will no longer receive earnings and users will only be able to harvest and withdraw their remaining assets. The deposit function will also be disabled to prevent users from mistakenly staking assets into these retired vaults.

Resources:

  1. Introducing ACoconut v2
  2. ACoconut: The First Cross-Chain BTC Yield Aggregator
  3. Introducing ACoconut Tokenomics v2
  4. Join Telegram → https://t.me/acbtc_community
  5. Join Discord → https://discord.com/invite/mvANFYe

About ACoconut

ACoconut is a BTC DeFi protocol suite designed to enable frictionless movement of BTC liquidity between decentralized systems. The ACoconut protocol suite consists of BTC+ and acBTC, powered by NUTS Finance.

About NUTS Finance

NUTS Finance is a blockchain development DAO focuses on building secure, composable and open source technology to empower financial applications on the blockchain. Our team is composed of experienced developers, financiers and serial entrepreneurs.

Website | Docs | Github | Discord | Telegram | Medium | Twitter

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To simplify creating decentralized financial applications

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