How the CyberTime Migration Portal Works
CyberTime is launching a migration portal to help you transfer your tokens. Here’s why you need this and how it works.
Why do we need this?
When we were launching our project and farming, in the rush, we overlooked a non-critical vulnerability in the emergency withdrawal function. Plainly speaking, this feature is necessary only in case you need to quickly get your tokens out of a smart contract.
It can only be launched via code, interacting directly with the blockchain. If you only interface with the contract through the site, you won’t stumble on it by accident. But imagine a situation where the website is down, and Emergency Withdraw just sends your money down a black hole. That’s why closing this vulnerability makes the whole project safer.
We value our community’s trust and want to do everything we can to make sure you won’t have any avoidable issues even in an emergency.
Since we can’t add changes to the blockchain, we have to create new smart contracts from scratch for two tokens, CTF / NFTL farming, and liquidity pools. The new contracts solve the vulnerability and will allow us to include additional DAO voting features for CTF holders, a database for burn rate in NFTL, and a profit-sharing system for the Community DAO Fund.
To make all of this work, we’re launching a migration portal that will make the switch to new contracts (and tokens) as easy as possible for users.
Is this secure?
Since CyberTime already formed a strong community and token capitalization, we acknowledge the responsibility of the stage of farming and migrating to new smart contracts.
That’s why we partnered up with one of the leaders in blockchain security audit — Certik Foundation. Negotiations are complete, and we’ve already signed an agreement, so this collaboration will soon allow CyberTime to reach a new level of trust in our community.
How will the migration portal work?
The migration portal will be held on the cybertime.farm site, accessible both from the 1.0 and 2.0 versions in the ‘Migration portal’ tab. It will allow users to convert version 1.0 tokens to version 2.0 at a rate of 1 = 1. When you convert your assets on the portal, basically, the 1.0 tokens vanish and are instantly replaced by an equivalent amount of 2.0 tokens.
There’s no time limit on when you can do this, you can wait forever if you choose, but we recommend you hurry up to keep your wallet contents up to date — you will still be able to access and use your funds if you hold 1.0 tokens, but your farming and NFT purchasing capabilities will be limited.
4 things you need to know about the CyberTime migration portal
- We will be issuing enough 2.0 tokens to replace each 1.0 token. But since the 1.0 versions’ liquidity will go down and the 2.0 versions’ liquidity will just begin to form, prices will remain unstable through the initial period.
- We’ll be using current data while we create new smart contracts as a basis, however, slight discrepancies are possible during the first few hours. We will correct them over the first days following the launch.
- You can’t convert LP stakes to the new smart contract. Since we’ll create new pairs on PancakeSwap, all LP pool stakeholders will have to unstake their version 1.0 assets, convert them on the migration platform and redistribute them accordingly: add to the LP again, and then to the pool.
- 7 days before we launch the next farming stage, we will close LP pools for deposits (withdrawal will remain available). Since this migration may cause additional expenses for LP holders, we’re doing a special NFT airdrop for LP holders from March 4 to April 2 to reimburse the possible expenses and inconvenience. Farmers will be chosen through a script that will pick those who farmed the most CTF over this period.
All of these nuances will be comprehensively displayed on the site — it’s going to look much less complicated than it might sound.
How can I convert my version 1.0 tokens?
When you go to the Tokens or Farm tabs of cybertime.farm version 1.0, you will see large reminders to convert your tokens above your wallet or pool information. But don’t worry, if you end up straight at cybertime.farm version 2.0, you’ll still see an announcement bar at the top of the page.
Even if you miss that reminder bar, you will get a pop-up alert to convert your version 1.0 tokens before you can access farming.
All of the shortcuts above (and the ‘Migration portal’ tab) will bring you to this page:
Just follow the instructions on the site and convert all of your CyberTime assets to the new version 2.0 tokens. Here’s what this page should look like after you’ve successfully converted your tokens:
You’re all set for farming on CyberTime Farm 2.0 now!
