Introduction

On March 15th, the STG token will undergo a migration process to new addresses. This decision was made following a successful vote on Snapshot, a decentralized governance platform that allows users to propose and vote on changes to decentralized protocols.

The proposal, which can be found at https://snapshot.org/#/stgdao.eth/proposal/0x26a68e276ab63195580c5100423c5db7177c9a0f15c74e5d8393812332b28836, was approved by the STGDAO community, ensuring a smooth transition to the new addresses. This migration is an important step in ensuring the longevity and sustainability of the STG token, and it will help to ensure that it continues to operate seamlessly within the decentralized finance (DeFi) ecosystem. As such, users and investors in STG are advised to stay updated on this migration process to avoid any potential disruptions or inconveniences.

FAQs:

Q: What is happening with the STG token?

A: The STG token is migrating to new addresses on March 15th.

Q: Do I need to do anything if I hold STG in my wallet?

A: No, you do not need to do anything. The replacement STG token will be airdropped into your wallet on a 1:1 basis after the snapshot on March 15th.

Q: What should I do if I hold STG on a centralized exchange?

A: The Stargate Foundation is notifying every centralized exchange that supports STG of the migration and providing them with a means to coordinate the switch. This will be determined on an exchange-by-exchange basis.

Please follow announcements from the centralized exchange you hold STG on to ensure no loss of your funds.

If the exchange where you hold your STG does not support the migration, you should withdraw your STG to a supported chain of your choice.

Q: What should I do if I hold STG on a decentralized exchange (DEX) or aggregator?

A: On March 15th, all protocol owned DEX liquidity will be removed. Therefore, you must remove your own DEX liquidity before March 15th. After the new STG token is airdropped, the old STG will be worthless. If you continue to provide LP at this point, the old STG token will be sold into your LP, removing the other asset you are providing and resulting in a loss of funds. Therefore, it is highly recommended that you withdraw and unwrap the LP and (if you wish) re-add the LP with the new STG token after you receive it.

Q: Will I lose my funds if I do not withdraw my STG from a DEX or aggregator before March 15th?

A: If you do not remove your own DEX liquidity before March 15th, the old STG token will be sold into your LP, removing the other asset you are providing and resulting in a loss of funds. Therefore, it is critical that you remove your own DEX liquidity before March 15th to avoid losing your funds.

Q: What should I do with my LP tokens after I withdraw and unwrap them?

A: After you withdraw and unwrap your LP tokens, you can re-add them with the new STG token once it has been airdropped. This will allow you to continue providing liquidity to the STG token while avoiding any potential loss of funds due to the removal of the old STG token.

Q: I have assets in Stargate LP pools. What do I need to do?

A: If you have assets in Stargate LP pools, you do not need to do anything at the moment. All assets within Stargate pools (such as USDC, USDT, or ETH) will continue to earn rewards until the snapshot on March 15th, and the STG migration does not impact the underlying capital in any way.

Q: What should I do after the snapshot on March 15th if I have assets in Stargate LP pools?

A: On March 15th, there will be a migration button on the Stargate farm pages that will allow you (or the aggregator you hold STG LP within) to easily move your LP to the new staking contracts that support the new STG token. Therefore, you should use this migration button to move your LP to the new staking contracts that support the new STG token after the snapshot on March 15th.

Q: Will I lose any rewards if I move my LP to the new staking contracts that support the new STG token after the snapshot on March 15th?

A: No, you will not lose any rewards if you move your LP to the new staking contracts that support the new STG token after the snapshot on March 15th. The migration process does not impact the underlying capital or rewards in any way, so you can continue to earn rewards as usual after the migration.

Q: What should I do if I hold veSTG?

A: If you hold veSTG, you do not need to do anything. When your veSTG vest expires, you will automatically receive the new STG token as you unlock your veSTG. Therefore, you can continue to hold your veSTG as usual and wait for the vesting period to expire.

Q: What should I do if I bought STG from the community auction (I hold aaSTG)?

A: If you bought STG from the community auction and hold aaSTG, you do not need to do anything. aaSTG is a non-transferable token representing an STG purchase from the community auction. When your aaSTG vest expires, you will automatically receive the new STG token as you unlock your aaSTG. Therefore, you can continue to hold your aaSTG as usual and wait for the vesting period to expire.

Protect Yourself from Fake STG Token Airdrops

The STG token migration to new addresses is set to take place on March 15th, 2023. As with any cryptocurrency migration, there is always the risk of malicious actors attempting to take advantage of the situation. To help protect STG token holders from fraudulent airdrops, the Stargate Foundation has provided a list of the only legitimate addresses for the new STG token.

These addresses include:

• https://etherscan.io/address/0x326f5834d73a2dc02b3c492E9ef1b24399d430b3#code

• https://bscscan.com/address/0x326f5834d73a2dc02b3c492E9ef1b24399d430b3#code

• https://snowtrace.io/address/0x326f5834d73a2dc02b3c492E9ef1b24399d430b3#code

• https://polygonscan.com/address/0x326f5834d73a2dc02b3c492E9ef1b24399d430b3#code

• https://arbiscan.io/address/0x326f5834d73a2dc02b3c492E9ef1b24399d430b3#code

• https://optimistic.etherscan.io/address/0x326f5834d73a2dc02b3c492E9ef1b24399d430b3#code

• https://ftmscan.com/address/0x326f5834d73a2dc02b3c492E9ef1b24399d430b3#code

The Stargate Foundation also warns that there may be a number of malicious token airdrops impersonating STG around this migration, so it is essential to take extra care with any interactions and verify that the ERC20 token received is from one of the legitimate addresses provided.

STG token holders are advised to exercise caution and remain vigilant during this migration period to protect their tokens and avoid any potential losses. By staying informed and taking necessary precautions, users can ensure a safe and seamless transition to the new STG token.

Reference