SifuVision Token Migration

Due to the ongoing situation with Multichain, and with security in mind as our highest priority, we will be migrating to a new token! This will be completed using our in-house bridging, without involving third party protocols, featuring OFT (Omnichain Fungible Tokens) using LayerZero. To migrate your $sifu tokens, follow the instructions below!

How to Migrate Your $sifu Tokens:

Step One:

Verify you are holding Sifu in your wallet on Ethereum or Avalanche. You will need to withdraw tokens from UwU Lend if they are supplied there.

Step Two:

Connect your wallet on the “Migration” page of the website.

Step Three:

The first transaction will be to “Approve”spending limit. Use max or default setting to ensure all your $sifu can be swapped.

Step Four:

After approving, you will complete a second transaction to “Migrate”. This will swap your Sifu to the new OFT Sifutoken.

Step Five:

Import the token contract address to your wallet via the button on the website or by manually importing the token address.

• New Sifutoken address on Ethereum:

0x8dd09822e83313adca54c75696ae80c5429697ff

• New Sifutoken address on Avalanche:

0xb168085d608d7ba4931a503d3424bc44ddb6b30d

Done!

For questions and assistance, please reach out to our moderation team on Discord.

Bridging

Once you migrate your $sifu tokens, you’ll be able to move them directly between Mainnet and Avalanche chains through our dapp. There is no need for any third-party bridging service. Just head to the website, click on the “Bridge” tab, make sure your wallet is connected to the correct starting chain, and enter the number of tokens you wish to bridge. It’s that simple!

Frequently Asked Questions:

What is an OFT?

OFT stands for Omnichain Fungible Token.

These tokens can be sent to other supported chains without involvement of third party protocols like Multichain.

What is the reason for the token migration?

OFT tokens get burned on the supply chain and minted on the destination chain. No third party protocols are involved. This is an important security update. Bridges mint their own version of the token on the destination chain and hold the original token on the supply chain.

Apart from security concerns that third party bridges pose, it will now only require a simple transaction to swap between chains, making it cheaper and faster compared to bridges.

What about the backing price?

The new OFT Sifu token will be backed just like the original token and the quarterly redemptions will continue as usual.