IDEX v2 to v3 Migration: Staking & Exchange Updates
IDEX v3 is going live on December 1st, 2021! Traders will experience first-hand the power of combining a high-performance order book and matching engine with AMM liquidity. As part of this launch, we’ll be making some changes to our existing v2 deployments. Here is what users can expect leading up to and after launch:
Staking Changes
- With the launch of IDEX v3, users will be able to stake their IDEX tokens on Ethereum L1 and Polygon. IDEX tokens must be held in the same wallet as the staking funds on Ethereum L1. This means that users currently staking IDEX on Ethereum L1 do not have to conduct any actions to continue staking on IDEX v3.
- After the launch of IDEX v3, all payments to stakers will be made on Polygon. This will greatly reduce the gas costs incurred on sending out staking earnings which will allow for much smaller minimum payouts. Stakers will be paid in ETH just like they are with staking today.
- IDEX is fully moving away from Binance Smart Chain. This includes tracking IDEX token balances on BSC for staking. Users who wish to use their BEP-20 IDEX tokens for staking must bridge them to ETH L1 or Polygon.
Exhange Updates
IDEX v2 (IDEX Classic), currently available on both Ethereum L1 and BSC, will be decommissioned 2 days prior to the launch of IDEX v3 (Nov 29). Once v3 goes live on December 1st, users will be able to withdraw their funds from v2 using a tool that directly interacts with the blockchain. This tool also allows users to set their own gas prices. We suggest that users wait for the withdrawal tool so they can set a lower gas price than the IDEX dispatcher and save some funds in the process. If users need to withdraw their funds during this migration period, they can use the IDEX escape hatch.
SOURCE:
Medium
