WELL Migration FAQ
Last Updated April 4 2024
Native vs. Wormhole WELL on Base?
Native WELL: This is the upgraded version of the WELL token, native to the Base network. It leverages the xERC20 token standard for enhanced multichain functionality.
Wormhole WELL: This is the existing version of the WELL token on the Base network, which will be deprecated in favor of the Base native WELL.
Native WELL (Base):
0xA88594D404727625A9437C3f886C7643872296AEWormhole WELL (Base):
0xFF8adeC2221f9f4D8dfbAFa6B9a297d17603493D
What are the benefits of upgrading to the native WELL token?
Upgrading to native WELL enables tokenholders to participate in governance, stake their tokens in the Safety Module, and provision liquidity on Aerodrome, on Base.
Is migration automatic?: No, users must manually initiate the migration using the Moonwell Migration Wizard.
Migration Deadline: There is no strict deadline for upgrading your Wormhole WELL tokens to native WELL. However, prompt migration is advised to utilize the full functionalities of the Base native WELL token.
I am experiencing "Transfer Buffer" issues during migration
The "Transfer Buffer" is a safety mechanism that limits the number of WELL tokens that can be transferred each day, acting as a hedge against potential vulnerabilities or compromises of the Wormhole protocol.
If you encounter the message "try again once the Transfer Buffer has increased" during migration, it means the Transfer Buffer limit has been temporarily exhausted. The Transfer Buffer refreshes on a minute-by-minute basis, so you shouldn't have to wait long to proceed with your token migration.
Effect on WELL Token Balance: The migration process will not alter the total balance of WELL tokens held by a user. An equivalent amount of Base native WELL tokens will be provided in exchange for Wormhole WELL tokens.
Post-Migration Use of Wormhole WELL
Users will continue to receive Wormhole WELL tokens as rewards in the Moonwell app until the next epoch transition on April 19th. From this date, the Moonwell Emissions Admin, Warden Finance, will update the reward streams to allow users to start receiving native WELL tokens instead of the Wormhole variant.
While Wormhole WELL tokens on Base can still be held and transferred, they will not be eligible for voting, staking, or providing liquidity to the new Aerodrome DEX pool. Migration to native WELL is strongly recommended.
Support: If you need assistance or have any questions regarding the migration process, please join the Moonwell Discord. Moonwell contributors and community members will be happy to help.
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