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LYXe token has migrated to mainnet
On May 23rd, 2023, Genesis Validators successfully launched LUKSO's Mainnet with an initial supply of 42 million LYX!
After the successful Mainnet launch, we entered discovery month which allowed the LUKSO team to observe the stability of the network. We are pleased to share that discovery month went smoothly, and many preparations were made for the milestones ahead.
Discovery month gave our team the opportunity to test the bridge and tools for the LYXe to LYX token migration process, update the Validator Deposit Launchpad and create a Checkpoint System for future validators to be able to start a node quickly . We also initiated the LYX distribution process for private sale participants and advisors.
The Migration Process
We also prepared for the token migration from LYXe to LYX. This process involved audits for the token bridge, as well as finalizing the frontend and monitoring systems.
The migration website (https://migrate.lukso.network) will allow you to migrate LYXe from Ethereum to LYX on the LUKSO Blockchain. For this process, you will need to hold your LYXe in a browser-based wallet like MetaMask (recommended!) or using a hardware device connected through MetaMask. The minimum amount of LYXe that you can bridge is 1 LYXe.
The LYXe will be migrated from your wallet address on Ethereum to the same address on the LUKSO Blockchain. Therefore, only EOAs (Externally Owned Accounts) will be able to migrate LYXe.
After completing the steps listed in the migration bridge frontend, you will be able to add the LUKSO Mainnet to your wallet and check for an updated balance. Please keep in mind that this process may take up to several hours or days (!), as the migration is built for security not speed.
The migration is currently planned to stay open for up to 4 years, allowing anyone to migrate during this period of time. LYXe will not be migrated automatically, so every LYXe owner needs to use the migration website and/or smart contracts to do so. There is likely an amount of LYXe that will never migrate due to lost funds.
