How To Migrate From $XEND To $RWA
- After the migration, users have the option to bridge their $RWA to Arbitrum One chain.
- Users can trade their $RWA on Arbitrum One chain using UniSwap DEX
We recently announced a significant evolution in Xend Finance’s core value proposition and the change of ticker from $XEND to $RWA. You can read more about the evolution here if you haven’t yet.
This article is a step-by-step guide on how our users can migrate their token from $XEND to the new $RWA token. The migration from $XEND to $RWA will be in a 1:1 ratio.
After migrating, users can follow the steps in Section 2 to bridge their $RWA to Arbitrum One chain, and if they want to trade the $RWA on UniSwap DEX, follow the steps in Section 3.
IMPORTANT INFORMATION:-
Below is information of the old $XEND token contract addresses and chains
* Ethereum chain — 0xE4CFE9eAa8Cdb0942A80B7bC68fD8Ab0F6D44903
* BNB chain — 0x4a080377f83d669d7bb83b3184a8a5e61b500608
* Polygon chain — 0x86775d0B80B3df266AF5377dB34Ba8f318d715ec
Below is information of the new $RWA token contract addresses and chains
* Ethereum chain — 0x4563554284aA7148D6E6D0351519E954Ba3B6E02
* Polygon chain — 0x36fe11b6d5c9421f68d235694fe192b35e803903
* BNB chain — 0x36fe11b6d5c9421f68d235694fe192b35e803903
* Arbitrum One chain — 0x3096e7bfd0878cc65be71f8899bc4cfb57187ba3
NOTE: This migration will be available for 45 days from today, the 30th of January 2024. The deadline for migration will be the 15th of March 2024, 0:00 UTC.
There would only be an exception for users who have $XEND locked in the staking pool ( stake.xend.finance with smart contract https://bscscan.com/address/0x3d4D0699C4Df1539Fdc42C6F9594A478c6929051#code ).
Now, let’s dive into the steps to follow in converting your $XEND token to the $RWA token on either the Ethereum chain, Binance Smart chain, or Polygon chain.
1. How To Migrate Your $XEND To $RWA Token
Step 1: Visit the migration tool link — https://migrate.xend.finance/
Step 2: Click on the “Connect Wallet” button.
Step 3: Choose your preferred wallet. Please note that a Metamask wallet was used for this example.
Step 4: Click on the “Approve” button.
Step 5: Sign the transaction on your (Metamask) wallet. Wait till it is done proceeding.
Step 6: You will get the “Approval Confirmed” notification on the screen. Click on “Done” to complete the migration.
Step 7: Click on the “Migrate” button.
Step 8: Confirm the transaction on your (Metamask) wallet. Wait for the migration process to complete.
Step 9: You will get the “Migration Confirmed” notification as shown below on your screen.
Note: The only fee for the migration is the chain gas fee.
If you check, you will notice that all your $XEND tokens have changed to $RWA.
Import the migrated $RWA token using the contract address for Eth, BNB Chain, or Polygon Chain at the start of the article. You should see your $RWA token in any of the chains.
Congratulations! You are now fully onboarded into the Xend Finance Real-World Asset ecosystem, exciting times ahead!
2. (Optional): How to Bridge your new $RWA from Ethereum, BNB Chain, or Polygon to Arbitrum One Chain
Note: This process is optional and is only required for users who want to trade their $RWA on DEXs like UniSwap or want to stake their $RWA on the Xend Finance native staking protocol.
The initial liquidity pool on Uniswap will support $RWA on Arbitrum chain for now.
There will be a bridge fee of 1.5% for every bridge transaction of $RWA token to the Artibrum chain.
Let’s walk through the steps for bridging to Arbitrum chain:
Step 1: Visit https://bridge.xend.finance/
Step 2: Choose your source chain from the drop-down options. The destination chain is already set to Arbitrum. Once you’ve selected your source chain, click on “Connect Wallet”
Step 3: Choose your preferred wallet. Please note that a Metamask wallet was used for this example.
Step 4: Input how much $RWA you want to bridge and click on “Approve”.
Step 5: You’ll see a pop-up notification asking you if you want to approve. Click on “Yes, Approve.”
Step 6: Sign the transaction on your (Metamask) wallet. Wait for the transaction to complete.
Step 7: You’ll see the “Transaction Confirmed” notification. Click on “Done”. You have successfully bridged your $RWA to the Arbitrum chain.
Step 8: Select the amount $RWA to Transfer (Bridge) the token
Step 9: Confirm the Transfer (Bridge) transaction on your (Metamask) wallet
Step 10: Wait for a few minutes for the Transfer (Bridge) transaction to confirm on the blockchain. Claim the Transferred (Bridged) $RWA token into your wallet address by clicking the “Claim” button under ‘Your Transaction History’ list.
NB: You need to have ‘ETH’ on ‘Arbitrum One’ chain for gas fee for the claim transaction.
Step 11: Click on “Confirm” on the pop up dialog
Step 12: Switch your network to Arbitrum and then sign the transaction using your (Metamask) wallet.
Finally, import the $RWA token on Arbitrum chain using the contract address for $RWA on Arbitrum at the beginning of this article. You should see your $RWA on Arbitrum in your wallet now.
3. HOW TO TRADE $RWA ON ARBITRUM CHAIN (USING UNISWAP DEX)
Step 1: First import the $RWA token on your (Metamask) wallet if you haven’t yet, using the contract address — 0x3096e7bfd0878cc65be71f8899bc4cfb57187ba3. Then click on “Next” and then “Import”
Step 2: Visit the $RWA UniSwap exchange link and connect your (Metamask) wallet.
Note: Only ETH/RWA pair is supported.
Step 3: Input the amount of ETH (or RWA) to swap for RWA (or ETH) and click on the “Swap” button
Step 4: Click on the “Confirm Swap” button
Step 5: Sign the transaction using your (Metamask) wallet by clicking the “Confirm” button
Congratulations! You should see the $RWA you purchased in your (Metamask) wallet.
If you have any questions, join our telegram community and ask our admins! Welcome to the Real-World Asset ecosystem!
