[Mainnet GA] Migration Plan

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What is Mainnet GA?

Mainnet GA is IoTeX’s biggest milestone yet and will kick off a new era of IoTeX. Mainnet GA is more than just a technology release – it also comprises new governance, tokenomics, and independence for the IoTeX Network. Stay up to date with all Mainnet GA announcements in this thread.

Mainnet GA - Migration Plan

As part of Mainnet GA, IoTeX will establish independence from Ethereum as a fully native blockchain. This involves a) swapping all unstaked IOTX-E (ERC20) to Native IOTX, and b) migrating all staking/voting information from Ethereum to IoTeX Mainnet.

a) Swapping unstaked IOTX-E (ERC20) to Native IOTX

Any IOTX-E (ERC20) that is unstaked must be manually swapped to Native IOTX. This can be done either via exchanges (e.g., Binance, Gate) or our self-service swap tool (i.e., ioTube).

  • :white_check_mark: [Active] Major exchanges supporting Native IOTX swap (see thread)

  • :white_check_mark: [Active] IOTX-E to IOTX self-service swap is open via ioTube
    – Note: ioTube will remain open for ~1 month after Mainnet GA launch

b) Migrating stakes/votes from Ethereum to IoTeX

Every ETH address (“0x…”) has a corresponding IOTX address (“io…”), which share the same private key. By default, all existing ETH stakes/votes will be mapped to your corresponding IOTX address. If you would like your stakes/votes to be mapped to another IOTX address, you can submit a request.

  • :bangbang: [ATTN: Hardware Wallet Users] Ledger/Trezor users that do NOT have their private key may submit a request to have their ETH stakes/votes mapped to a new IOTX address (i.e., NOT your corresponding address). The deadline to submit requests is May 23, 2020. Alternatively, Ledger users may wait until the integration is ready (timeline controlled by Ledger) – this will NOT impact your current votes/rewards but you will not be able to update your votes until the integration is complete. Unfortunately, Trezor will not support new tokens so all Trezor users must either map their stake/votes to a new address OR extract their private key from Trezor. Please see this thread for more information and contact an Admin in the IoTeX Telegram with any questions.

  • :bangbang: [ATTN: Delegates] IoTeX Foundation will help to facilitate migration and profile registrations for Delegates in May. All Delegates should complete this form as soon as possible!

  • :hourglass: [May/June] ETH staking contract will be frozen and all data will be migrated to IoTeX Mainnet, after which the IoTeX Network will be permanently separated from Ethereum. Hooray!

Questions?

Please ask any questions in the comments below, or reach out to an Admin in the IoTeX Telegram Group. Stay up to date with all Mainnet GA announcements in this thread.

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I am using Trezor and had some unstaked IOTX-E that I swapped to Native IOTX via the ioTube. I now see them in the corresponding IOTX address to my ETH address. My question is how do I move these native IOTX from my corresponding IOTX address to a new IOTX address generated with ioPay wallet? Will hardware wallet access be supported by the Native IOTX? If I don’t use the mapping tool, will I no longer be able to interact with the blockchain or stake Native IOTX because I don’t have access to my private key (Trezor)?

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Hey @calibrisk – thanks for the question. There are two parts to the migration:

1) Staked IOTX: these tokens will be migrated from ETH to IoTeX Mainnet. People using Ledger/Trezor to stake should map their staked IOTX to a new “io” address where you have the private key.

2) Unstaked IOTX: these are tokens on exchanges or wallets. for HW wallet stakers, the native IOTX in your current corresponding “io” address will be accessible once integrations are complete or private key is extracted.

Overall, the process I recommend is for you to map your staked IOTX to a new “io” address (via this service) – you will have the private key and will be able to make new votes, change votes, withdraw tokens, and receive rewards after GA launch. Once Trezor app is ready, you will be able to access the native IOTX in your current corresponding “io” address. We will have a “bucket transfer” mechanism to consolidate buckets across accounts. Ledger is on its way (hopefully soon), but Trezor does not support new tokens at all, so new firmware will need to be custom developed (ongoing). Until then, please be patient – we cannot recommend you to extract private keys from your HW wallet, but advanced users may consider it. Feel free to PM me on Telegram at @Larry_IoTeX with other questions.

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FYI, more info about ioTube - iotex-bootstrap/tube at master · iotexproject/iotex-bootstrap · GitHub