Important Dates and Updates on Migration

Sep 22, 2021

Dear community,

In case this was missed — our staking program has moved from Ethereum and we have successfully migrated all the tokens on September 15 — which you can access on our native browser extension wallet. This means that all of our stakeholders have the opportunity of benefiting from higher rewards, a more responsive interface and near-zero fees on main-net.

This brings YOU one step closer to begin staking on our Mainnet. For those with their tokens on the native browser wallet — now you can send them directly to your address generated on Cosmostation — iOS/Android (mobile users) or Web Wallet (applicable for ledger users)!

Pros of staking on Mainnet
1. Higher APR — 24% right now in comparison to the standard 10% on our ETH contract.
2. Great UI and UX with regular updates offered via Cosmostation team — Web based and iOS/Android.
3. Reputable and verifiable validators on Mainnet to delegate to.
4. Last but not least the exclusive stakedrops waiting for you — MOBIX (If you don’t know much about MOBIX, MOBIX is a joint project between Datarella and and our use case was showcased at IAA conference — the world’s biggest automotive conference in Munich earlier this month)

Important dates for you to remember and add to your calendar going forward:

29th September — Token Bridge Open (upgraded to new network version)
A delay here will without a doubt disappoint some of you but full disclosure — we have run into technical issues and we want to deliver it 100%. We are also speaking with exchanges to list native tokens and we are quite close to getting them to list it. We are therefore requesting you to wait just one week more!

7th October — Browser Extension Wallet enabled on Token Bridge
This means you can convert your native tokens to ERC20 directly in sync with our browser wallet. Just add your wallet address on native field and add your metamask or your ERC20 exchange wallet address on the ERC20 field and send it over. You wont need a ledger anymore to convert native to ERC20.

14th October — Reconciliation Registration opens
For those who wish to migrate tokens to a new mainnet address without migrating their metamask keys or passphrases to a main-net wallet.

20th October — Mobix stake drop

We also want to take a moment to address some concerns on why we are asking our community members to input their private keys in order to access your migrated tokens as outlined in our guides. We understand the community’s concerns but the migration involves making a copy of your key (already stored on your computer), encrypting it, and storing it in a different location on your harddrive so will not greatly compromise your security

We understand that this is a somewhat difficult process but most of this complexity is caused by the transition from FET to our native ledger, and the differing wallets and infrastructure that the two systems use. This was a one-off process to help our community escape from the high fees on Ethereum, and once completed will offer a more secure, decentralized and enjoyable user experience for our community. The move to mainnet will also provide new and exciting opportunities in decentralized AI and we look forward to continuing that journey with our supporters alongside.

We appreciate your patience very much and will deliver to our community what we promised.

Fetch ai Team