Staking Migration Guide – How to Participate
Aug 6, 2021
To aid those looking to participate in the test migration, the decision tree above should help you arrive at a decision fairly easily.
If you arrive at the auto-migration step, this guide will talk you through the process.
Auto Migration — Import your ETH private key
The first step in the process is to migrate your metamask using the Fetch.ai browser extension wallet.
The browser extension wallet is now available on the Chrome webstore.
Do not forget to pin the extension to your browser.
Open it and you will see the following options. Select the option “Migrate from ETH”
After clicking this option select the “Migrate a Metamask Private Key” option from the following menu.
You will then be prompted with the main import screen where you can set the keys name and specify the Eth address you are migrating from which in this case would mean your Metamask ETH address (this is used to check that the private key is a match) and then finally copy the private key from the Metamask account. If this is the first key that you are creating in the wallet, you will be also prompted to set a global password for your wallet.
Exporting your private key from Metamask
To export your private key from Metamask then click the account menu button (3 dots) and select “Account details” and then you can export your private key.
Screenshots for clarity:
Checking your account via the Browser extension
Once you have successfully migrated your private key, you can select the Andromeda network from the dropdown at the top of the browser extension wallet application and if the migration was successful you should have a number of TESTFET being staked. The number of TESTFET being staked should mirror the number of FET staked on Ethereum at the point at which the snapshot was taken (roughly 2 weeks ago)
The address “fetch1xqq….3ra2” will be the users migrated address. Seeing the migrated tokens on that link will only be possible after the network upgrade.
In case you do not see any TESTFET appear on Andromeda Network, we recommend that you manually migrate your tokens from Ethereum to the Mainnet via the token bridge.
Frequently asked questions:
1. What happens if the auto-migration works now but fails in the future?
Provided you can prove ownership of the Ethereum address, we will provide you with a reconciliation process so you can receive your funds back.
2. Is there an auto-migration process for Ledger Nano and other hardware wallets?
No. We recommend you to manually unstake your tokens and move them across the token bridge to Mainnet. Ledger Nano is supported in the Cosmos ecosystem, and support for other hardware wallets will come in due time.
3. Does my TESTFET have any value and can I trade it?
No. It does not have an intrinsic value and is purely for the purpose of interacting with testnets.
4. Can I use My Ether Wallet or Trust Wallet for the purpose of this auto-migration?
Yes, if you can export your private key from My Ether Wallet or Trust Wallet, the auto-migration will work. However, the staking process on the Mainnet is integrated exclusively with Metamask.
5. At which point will Browser extension wallet play a key role in staking on Mainnet?
The Browser extension wallet only supports the “stargate” version of the network. At the point that the network is upgraded, users will be able to use it to stake tokens via our Block explorer
6. If I am able to view TESTFET on Andromeda, will this mean my tokens will be automatically migrated to Mainnet?
Yes. Any remaining staked funds on ETH network will be automatically migrated to Mainnet.
7. If I do not want to participate in this process at all and still want my tokens automatically migrated, how can I access them on Mainnet?
We strongly recommend you to get involved in this process as these are your assets. While we have a firm commitment to making sure no tokens are lost in the process, the reconciliation process of returning your funds will take a while so it is in your best interest to be a part of this process.
8. Will I be paying any transaction fees for participating in this process?
No fees are incurred for participating in this process. However if you do a manual migration of your tokens across the token bridge, Ethereum network fees will apply.
9. When can I download the Browser extension wallet?
Browser extension wallet is awaiting approval on Chrome webstore.
10. If I plan to use the Browser extension wallet, will that replace staking with ledger nano on Mainnet?
You can import your ledger nano private key into the browser extension wallet and therefore at the point of network upgrade, you can use the block explorer to stake or unstake on the Mainnet either directly via the ledger nano or through the browser wallet extension.
11. Can I use the browser extension wallet to send my tokens (Native to ERC20)?
Once the network is upgraded, you can use the browser extension wallet to send your tokens from native to ERC20. This is a highly requested feature from our community so you won’t be required to have a hardware wallet to transfer your tokens. Which is another reason why we are so excited to launch our native browser extension wallet for the community.
12. Will the browser extension wallet replace the token bridge?
No. The token bridge will stay the same. The difference is that the token bridge interface will be integrated with the browser extension wallet.
13. If I participate in the migration, my tokens successfully show up and once auto-migration is completed, how can I access them on Mainnet?
The block explorer in conjunction with the browser wallet can be used to perform the redelegate or unstake operations. Essentially in the same way as we can do now (but where users are limited to a ledger nano)
After the auto migration the tokens will be delegated to one of our validators. Users can choose to redelegate their tokens to another validator as soon as the upgraded network is restarted.
If the user wants to remove their staked tokens they can unstake them from the current validator and they will be free to spend after completing a 21-day unbonding period (the same way as the ETH Staking system).
After the tokens have successfully unbonded they can be freely transferred by the user.
14. Is my private key or Ethereum address shared with Fetch.ai during the migration?
No. The Keplr wallet uses the Ethereum address to check that it matches the private key on your local machine. However, be careful with your private key and ensure that your anti-virus software is up-to-date. We recommend using a hardware wallet as this is the most secure way of managing your funds.
15. What happens if something goes wrong, and I cannot access my migrated tokens?
There are several valid reasons why this could happen such as you using a hardware wallet that does not allow the private key to be exported. We plan on resolving this issue by performing a reconciliation at the next upgrade of the network, scheduled for the end of 2021. To receive funds from the reconciliation, you will need to prove that you hold the Ethereum signing key that was used to lock funds in the staking contract and provide us with an address on mainnet for receiving the reconciled funds. We’ll provide more information on how to use this facility after the stake migration in September 2021.