$QSR Migration: Everything You Need to Know

As we approach the migration of the $QSR token to an EVM chain, it’s important to ensure you’re fully prepared. We have created this FAQ to help guide you through the process, answer your questions, and clarify what to expect.

Here you’ll find everything you need to know about the migration, snapshot, how it works, what actions are allowed after the snapshot, and how to stay informed as we transition to the new ecosystem. Whether you’re a long-term holder or new here, this guide will help you navigate the next steps.

• What’s $QSR token migration all about?

Migration is the execution of a strategic plan to move the $QSR token to an EVM chain, which will provide better market access, greater liquidity, and a larger user base. This move aligns with Quasar’s long-term goal of expanding across ecosystems and will involve decommissioning the current $QSR token and issuing a new token via an airdrop or claim process.

• What is the timeline for the migration?

A snapshot of $QSR token holders has been taken at block height 8,425,300 on Quasar chain and block height 21,749,595 on Osmosis chain. The relisting of the new $QSR token on EVM is expected during Q1/Q2 2025.

• What is a snapshot?

A snapshot is a record of all token holders and their token balances at a specific block height on the blockchain. This means that at the designated block, the ownership and amounts of $QSR tokens are captured and frozen for the purposes of migration. The snapshot ensures that anyone holding tokens at that precise moment is eligible to receive the new tokens after the migration. It’s an essential part of the migration process, as it guarantees fairness and accuracy when transitioning from the current $QSR token to the new one. Token balances and wallet addresses at the snapshot time will determine the allocation during the migration, so it’s crucial to hold your tokens in your wallet before the snapshot block height is reached.

• Where can I keep my QSR tokens to be eligible?

You can keep your tokens in the following places to be eligible:
Quasar chain: Vested, staked, unstaked, or in the process of undelegation and redelegation.
Osmosis chain: On available balance, LPed in pool #1314, LPed in QSR/OSMO Dynamic A+ Vault, LPed in pool #1060.

• What happens to the current $QSR token during migration?

QSR has transitioned to a legacy token and been delisted temporarily. Quasar has withdrawn its Protocol-Owned Liquidity from the Osmosis pool #1314 and QSR/OSMO vaults. A new $QSR token will be distributed to holders after the migration.

• What will happen to unclaimed staking rewards and vault-based incentives (VBI)?

We do not guarantee that unclaimed staking rewards and VBI will be accounted for the snapshot. Thus we recommend to claim staking rewards before the snapshot. Unclaimed rewards are stored in a smart contract and do not belong to you until they are claimed. The same applies to vault-based incentives.

• How will the new tokens be distributed?

The new tokens will be distributed via an airdrop or a claim process after the migration. Eligible holders will be determined based on the snapshots mentioned above.

• How do I know how many tokens I’ll get allocated in the future?

We will release a migration dashboard that will allow you to track your allocation during the migration process.

• What happens to the vesting schedule during the migration?

All token vesting, including that of team members, advisors, and private investors, will be halted during the migration period. Vesting cliffs and unlocks for these groups may also be delayed until after the migration is complete.

• Will there be any penalties for selling $QSR after the snapshot?

Yes, the Quasar team reserves the right to penalize users, including private investors and team members, for selling $QSR tokens after the snapshot. After the snapshot, users should not sell, send, use IBC, or use the tokens in any form, except for staking. Any transfer of tokens after the snapshot, including sending or using them in any capacity other than staking, will be considered selling and may result in penalties.

• What happens to inflation during the migration?

The inflation rate of $QSR is set to 0%, temporarily halting the minting of new tokens. After migration, inflation parameters will be revisited and adjusted.

• What should users do to complete the migration process?

No action is required from users to complete the migration. Simply wait for the upcoming distribution on the EVM. Until then, it’s essential to avoid any token movements to ensure the best outcome for everyone. Do not trust information from any other sources other than this FAQ, as it may be fraudulent.

• If a user is having an issue with their allocation, where can they contact us?

If users have any questions or issues, they can reach us via Telegram, Discord, support tickets on app.quasar.fi (look for the support button in the lower right corner), or by emailing vlad@quasar.fi.

• Where can users stay up to date with the migration process?

Official updates regarding the migration and process will only be shared on our official Telegram and X.com accounts. Do not trust information from any other sources, as it may be fraudulent.

• What is the role of the Quasar chain after the migration?

The Quasar chain will continue to act as the liquidity controller for Quasar’s future products across multiple ecosystems, ensuring security and decentralized management through the Strategy Keeper Network.

• What are the future security models for Quasar Chain?

Several security models are being considered, including:
Becoming an AVS of Eigenlayer, Symbiotic, or others
Utilizing shared security on an L2
Utilizing Osmosis’ Mesh security
Utilizing Bitcoin security through Babylon

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If you have any questions or run into any issues with your allocation, feel free to reach out to us. You can contact us via Telegram, Discord, support tickets on app.quasar.fi (just click the support button in the lower right corner), or by emailing vlad@quasar.fi.

For all the latest updates on the migration process, make sure to follow our official Telegram and X.com accounts. These are the only trusted sources for migration-related news — be cautious of any other platforms, as they may be fraudulent.

We’re here to help you through this transition and ensure everything runs smoothly!

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THIS FAQ IS DYNAMICALLY UPDATED ONCE ANY NEWS OCCUR.
PLEASE, DON’T TRUST ANY OTHER SOURCES!