Hey Yetis! As you know by now, Pancakeswap is migrating its smart contracts here VERY SOON. Since this will affect all projects that rely on Pancakeswap for liquidity, we are making all the necessary changes on the Blizzard backend to facilitate this transition. This means we are rewriting our smart contracts, preparing for the switch, and preparing our mods to answer all the telegram questions that you will no doubt be asking :-)
Here’s what we have going live in about 24 hours. Yup, we are moving fast to keep everything on track for the migration.
The current xBLZD-BNB and xBLZD-BUSD pool emissions will stop at 6 am UTC on Friday. At that time those pools will be placed in the inactive tab and new ones will appear in the active tab. Users are to withdraw from the old pools and follow the migration instructions given below. xBLZD emissions will start immediately on the new pools and like the last migration, all deposit fees will be 0% for the first 24 hours.
1. Locate xBLZD-BNB and xBLZD-BUSD pools in the inactive tab.
2. Withdraw liquidity tokens from xBLZD-BNB or xBLZD-BUSD pools as normal.
3. Follow steps 2 and 3 of the Pancakeswap migration process linked below.
4. Locate the new xBLZD-BNB and xBLZD-BUSD pools in the active tab.
5. Deposit liquidity tokens in the new xBLZD-BNB and xBLZD-BUSD pools as normal.
Starting at 6 am UTC our development team will begin creating new contracts for the non-native farming pools. This includes the below pools.
We are estimating that these contracts will be finished and sent to the timelock contract by 11 am UTC where they need to be locked for 12 hours. Once the timer expires (~11 pm UTC) the development team will move the old non-native liquidity pools to the inactive tab and place the new liquidity pools in the active tab.
Users are to withdraw from the old pools and follow the migration instructions provided above but using the liquidity tokens you had withdrawn. xBLZD emissions will start immediately and like last migration, all deposit fees will be 0% for a 24 hour period.
Also, our new emissions will be 0.75 xBLZD per block. Because we hate inflation as much as everyone else.
Key Points / Takeaways:
- Blizzard and Cave pools are unaffected by this migration. You can leave your tokens in these without worry! Yeet-i!
- The Blizzard team will seed the initial xBLZD liquidity on Pancakeswap v2 to ensure that the correct price is set.
- There will be a 0% deposit fee on ALL farming pools for 24 hours.
- For xBLZD being used on other projects, please consult them for the necessary actions. This includes yield aggregators and other farming projects that may take xBLZD as an asset.
The Blizzard dev team does have a backup timeline in the event that issues arise during migration. They will be online during the migration to help tackle any unforeseen scenarios.
Anything else we need to know?
Nope! We have as much covered here as we possibly can. But in case you missed it, we are taking this opportunity to reduce the xBLZD emissions to 0.75 per block. This is the latest step in our battle against inflation, and when combined with our automatic daily token freezes, gets us one step closer to becoming a deflationary token.
We are still waiting for Pancakeswap to release their new smart contracts and will be keeping everyone updated as soon as we get the new info.