GMR Token Migration Guide
The GMR v2 token migration has launched. The project developers have notified investors across all the official social channels. You can find links to these channels at the end of this guide. Be sure to follow them for the latest updates regarding the migration to GMR v2 and more.
You can find details about the GMR v2 token, and how the innovative security mechanisms are helping to decentralise the GAMER project and protect investors in our GMR v2 Token Migration article.
For holders of GMR on a centralised exchange (CEX), such as BitMart or ZT, the migration process will occur automatically. BitMart and the other CEX’s, have confirmed they will support the migration and automatically move holders of GMR to v2 once migration begins.
If, however, you are holding your GMR tokens in a wallet such as Trust Wallet, MetaMask, Math Wallet, or have access to the WalletConnect dApp from your wallets. You will need to manually migrate your holdings via the GMR Center’s Migration dApp.
How will migration work?
The development team revealed details in a recent AMA about the mechanics of the migration and how the GMR Migration dApp will work.
When migration begins, a snapshot of accounts and balances will be taken, and the GMR v1 price at this time will be used to set the v2 opening price (price lock).
v2 tokens will be redenominated by 1,000,000:1. To ensure holders retain their investment value once v2 trading beings, the developers will redenominate the price in the same manner. For example, a GMR price of $0.00000018 at the time of the snapshot will price lock the opening v2 price to $0.18.
Once the snapshot is complete, it will be fed into the migration dApp, and the developers will begin the process of liquidity pool migration. This is the process by which the developers will capture as much of the existing GMR liquidity pool (LP) as possible and transfer the LP to the new v2 token.
Please note: once the process of LP migration begins, the GMR price will drop quite significantly. This is to be expected, and it is important to remember that our price lock has guaranteed every holder’s investment once v2 trading opens.
Based on the snapshot, the migration dApp will work out exactly how many tokens holders are eligible to migrate. It’s important to note wallets can only migrate GMR once. This prevents malicious attempts to game the system by migrating to v2, purchasing additional GMR at a lower price and attempting to migrate again.
Here’s the step-by-step guide on how to manually migrate your GMR tokens to V2.
Step 1 - Welcome balances
After connecting your wallet to the migration dApp, you will see the migration welcome panel. Here you will be shown the various balances and what they mean:
Current actual GMR v1 balance:
This is how much GMR v1 you currently hold.
GMR balance at the time migration opened:
This is the capped maximum limit you can migrate to v2.
Amount of GMR v1 you can claim:
This is the amount of GMR you can migrate, not exceeding your maximum. Remember, you can only migrate once. If this balance is lower than your capped maximum, and you want to purchase the difference to migrate, you must make this purchase before moving to the next step. Otherwise, you can migrate this lower balance by continuing.
GMR v2 amount:
This is the amount of GMR v2 you are about to migrate to. Remember, the GMR v1 to GMR v2 redenomination ratio is 1,000,000:1.
Opening GMR v2 price:
This is the price that GMR v2 will open at on the various decentralised exchanges. This figure is taken from the price GMR v1 traded on PancakeSwap when the migration snapshot was taken, minus six zeroes.
Step 2 - Deposits
The first deposit screen will again confirm the amount of GMR you are migrating to v2 and how much v2 you will receive in return. If you are migrating within the first twenty-four hours, you will receive a 2% reward on your migrated tokens. If you migrate between days two and five, you will receive a 1% reward on your migrated tokens. Please note: any rewards will be shown at the end of the deposit process.
After reviewing the amounts shown, hit the start migration button to begin the approval process.
At the approval step, you will be shown migrator contract details before being asked to approve the contract to act as a migrator to v2. Always confirm that the contract address you are being asked to interact with is the same contract address referenced in the transaction you are asked to approve inside your wallet.
You will also see once more how much GMR you are migrating to v2. Once you are happy to proceed, hit the approve button and approve the migration contract inside your wallet. Once the approval process begins, please do not refresh your screen or close your browser.
Once the relevant approvals are in place, you can safely deposit your GMR using the migration dApp. Please note: before depositing your GMR at every step of the process you can navigate back to the welcome screen, where you can confirm the relevant balances.
Once you begin the deposit process, please do not refresh your screen or close the browser.
Step 3 - Withdraw
Once your GMR has been deposited, you will see your v2 token balance inside the withdrawal panel. From this panel, you will see any eligible rewards have been calculated and applied to your balance. You will also have the ability to automatically add the new token to your wallet using the button inside the panel.
NOTE: Withdrawals are now open, and so you can deposit and then withdraw all in the same session.
If you require additional support, please contact the team here: firstname.lastname@example.org.
Additionally, you can reach out to a community team member or moderator on any of our official social channels found below.