Operation Guide | How to Migrate Mining in Mining Phase 2
The second stage of ShardingDAO mining will be officially launched at 11:00 (GMT+8) on April 13th. At that time, the first stage of mining will also end simultaneously and no more revenue will be gained. In order to allow users to have a better mining experience and gain more revenue, ShardingDAO will simultaneously launch the migration function.
The migration function can help users with a series of operations such as asset redemption, exchange, and provision of liquidity without jumping to the page, and directly migrate the assets pledged in “Mining Phase 1” to “Mining Phase 2”. Users can follow the following migration tutorial to migrate assets and participate in the second stage of mining to earn more liquidity income.
Step 1: Connect to the wallet (take Matemask as an example)
> Click the “Connect Wallet” / “Unlock Wallet” button in the upper right corner of the page, and the following pop-up window will appear.
> Select “Metamask” to call the plug-in to connect to the wallet.
Step 2: Select the assets need to be migrated
> Click “Pools” and select “Mining Phase1”, select the currency to be migrated on the Pools list page, and click the “Migrate” button.
Step 3: Perform asset migration operations (take ETH network and USDT assets as examples)
> Click “Redeem” to perform the asset redemption, and when “Mining Phase 1” ends, all your pledged assets will be redeemed to your wallet
> Click the “Confirm” button to proceed with the asset redemption.
> Click “Convert” to convert “tokens” into ETH, and a single migration can exchange up to 3% slippage SHD, and the maximum limit of ETH you can exchange (“3% slippage SHD corresponding to the amount of ETH”).
> Click “Confirm” to proceed with your token exchange.
If you have ETH in your wallet, you will skip this step to “ETH Exchange SHD”.
> The “Convert” button converts “ETH” into SHD, enter the amount of ETH corresponding to SHD slippage with a value of up to 3%, and click “Confirm” to proceed with your token exchange.
If your wallet has ETH and SHD assets, it will enter to the “+Liquidity” operation.
> “+Liquidity” enter the value of the token you want to deposit. The amount of SHD to be added will be calculated based on the asset value ratio of 1:1, and click “Confirm” to add liquidity.
> “Staking” function needs to enter the staking time, which is limited to 1–36 months, which will add 0.7383–1.8704 times to your lock-up weight.
> Click “Confirm” to pledge LP Token.