Transition plan
Everything you have to know about the switch from NOVA v1 to NOVA v2.
V2 currently tested in-house
Before going into details on how you will be able to exchange your NOVA v1 for NOVA v2, a brief update on the V2 development.
We are well aware that it may appear as if nothing is going on from the outside. However, we are doing a lot behind the scene to make sure everything is well tested and thoroughly optimized to avoid any issue or bug in this new version and ensure a perfect launch.
We are currently testing the V2.
As a reminder, the development team took advantage of the bug to completely rewrite the functioning of the NOVA staking contract.
Transitioning: All in one click
The new app will detect if you hold NOVA v1 or if you have LP staked on the Master Universe v1. If you do you’ll be offered a transition via a button that will trigger a series of transactions.
In the end:
- the NOVA v1 you had will be swapped for NOVA v2 (1:1 ratio)
- the LP you had in the Master Universe v1 will now be in staking in the Master Universe v2
- and the pending nova rewards from the v1 will be transferred to your address as NOVA v2
Which rewards? I’m glad you asked!
What V1 stakers get
For anyone who still had LP token in the pool when the contract stopped working (official time: Dec-05–2020 09:06:05 AM +UTC) the following applies:
- +12h staking: We decided to rewards the stakers to the extend of what they would have earned if the staking had continued on the v1 for 12 hours after the contract became unusable. This 12h extra period will make things fairer on the people who joined the staking late without being unfair to the early joiners.
- 0% fee on NOVA v1 withdrawal: No fees on the NOVA you will receive from the V1 rewards. So it’s 30% of NOVA offered
- NOVA v1 2x reward: On top of that, we’ll double the total amount of rewards you ought to receive.
On that note, time for us to get back behind the keyboard!
