We hope you’re doing well!
In this article, you will find a summary of our position regarding the migration of PancakeSwap towards its V2 and the impact on our products and on UniCrypt’s roadmap.
🔒 UniCrypt Lockers on PancakeSwap
✅ Lockers Status: Operational on V2
Projects that are willing to lock their V2 PancakeSwap LP tokens can now do it. We have deployed an update on April 25th allowing token developers to use the lockers on PancakeSwap V2 pairs. Direct link to access the lockers here.
✅ Launching ILOs with Locked Liquidity: Operational on V2
We have pushed an update on April 25th allowing projects launching with our platform to have their PancakeSwap LP tokens directly locked in V2.
The LP tokens locked once the markets are initialized are V2 PancakeSwap LP tokens. Please make sure to create your ILO under Pancake Swap V2 AMM. Direct link to access the ILO creation page here.
💱⌛ Locked Liquidity on PancakeSwap V1
420+ pairs are using our liquidity lockers at press time, for a total amount locked around $165M (NB: we deployed our services on BSC less than 2 months ago, the adoption rate of UniCrypt lockers is… simply insane!)
LP tokens are locked, hence they can not be withdrawn manually from the locking contracts before the end block (end-date). SECURITY Feature 💯.
That being said, projects using our lockers made a smart choice! Our locking contracts have an entry for a clip to a migration contract.
1️⃣ 🔥 UniCrypt will be able to support the migration to PancakeSwap V2 pools.
2️⃣ Projects locked on V1 pools will be able to use the migration function that will be offered on the UI once ready.
3️⃣ Newly minted LP tokens (once an existing pool is migrated on PancakeSwap v2) will remain locked with the same parameters they had before the migration (including the original unlock date).
4️⃣ The complete process will be documented (e.g. particular cases where there is already a pair on both sides V1 and V2 sides, how-to, etc.).
ETA: we will update our community as well as PancakeSwap community once we are close to implementation date.
Our team is currently finalizing the token vesting service that will be delivered before the migration feature from V1 to V2 PancakeSwap pools.
Nonetheless rest assured that we are doing our utmost to deliver this migration feature as quickly and securely as possible despite the short notice.
📫 Closing word
We have created the lockers concept in June 2020. This service with unique features was built with safety and flexibility in mind, thus allowing us to anticipate such migration events and implement enhancements when required.
Stay tuned for an official announcement as soon as we get closer to the implementation date, and have a wonderful week!