Hey everyone! As you may have noticed, the PancakeSwap API for V1 had a major outage over the weekend.
This outage impacted the AMM site for CubFinance (https://exchange.cubdefi.com/). We found the issue and deployed a full workaround for the API yesterday (Monday, September 13th).
The outage comes at an interesting time for CubFinance. We've been preparing - from a technical side - to migrate from PCSv1 to PCSv2 for quite a while now. This migration is extremely important, as seen by outages like this, swap fees, the bLEO bridge and more.
In this quick post, we'll preview our migration and set a date for when we plan to do it: Tentatively set for Monday, September 20th. More announcements leading up to this day will be released as we approach.
Migrating to V2
Our migration to V2 is more important than ever. We've built Kingdoms - which utilize V2 or V2-like platforms.
We've built a decentralized IDO mechanism - which utilizes V2.
Now, it's time to migrate CUB-BUSD, CUB-BNB, bLEO-BNB (and DEC-BUSD) to V2 as well. These are the 4 remaining farms and liquidity pairings on CubFinance and the migration of them will mark another major turning point for Cub as a platform.
Note: we believe the Splinterlands team will handle this migration for DEC at the same time we do but it hasn't been 100% confirmed yet for the day we've chosen. Stay tuned for updates about DEC-BUSD as we get closer to Monday.
What We Need to Migrate
We've already built out the tech for the migration on the backend. The key aspects were around building handling for V2-enabled vaults.
We secretly tested our ability to handle V2 vaults with the CAKEPOP-BUSD vault on CubFinance. This farm is already on PCSv2, as many have noticed by this point.
Now that we have this tech performing well, the next 4 major steps are:
- Migrate the CUB, bLEO and DEC liquidity pools to V2
- Migrate the /farms page to handle only V2 vaults for these pairs
- Rebuild & Redeploy our AMM page to handle V2
- Deprecate V1
- Handle the logistical move from V1 to V2 as a community (users need to unstake from the V1 vaults, unpool from V1 LP
What You Need to Migrate
If you are a user of any of the following vaults, then action is required:
We'll continue to post about these changes - tutorials, logistics, technology, etc. - to make the transition as smooth as possible.
If you are in any of these pools, then you'll need to:
- Unstake from the /farms page
- Remove liquidity from the AMM liquidity page
- Visit the new V2 liquidity page and add liquidity back into the new V2 pool
- Revisit the V2 /farms page and stake your new LP liquidity tokens
- All done! You'll be on V2 and earning CUB once again 🚀
IMPORTANT NOTE: It's best to migrate liquidity during our 24 hour migration window. During this time, we'll have 0% deposit fees on impacted vaults (bLEO and DEC). This will allow you to migrate to V2 without paying an additional deposit fee and will also allow the logistics of this migration to happen more smoothly. Wait for the post and announcements for the migration day and move your liquidity on that day for the smoothest experience.
While it may seem like a few steps and a couple of transactions, it is not actually that difficult to migrate to V2.
We've put off this migration as long as possible but it has come time to make this happen. It's also important for the future of CUB as we have a number of new contracts and features being released before the end of the year that make use of V2-enabled platforms. vCUB DAO Staking and other features are right around the corner but this V2 migration needs to happen first!
We also have 2 upcoming IDOs that use 100% CUB. While these don't use V2 (since there's no CUB-BUSD LP like the first IDO), the platform(s) that are running the IDOs utilize V2 and they will want a V2 pairing for the farms they deploy on our behalf (CUB-BUSD V2, CUB-BNB V2 and a new CUB-BTCB V2).
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