Polaris V2 — V3 Migration guide
How to migrate your tokens from V2 to V3?
- Navigate to the the migration page on app.polaris.io. under the “Exchange” menu item
- If you have V2 POLAR LP tokens, you will need to un-LP. Only single asset POLAR can be migrated to V3. Navigate to PancakeSwap and remove your POLAR — BNB LP or your POLAR — BUSD LP.
- Make sure that your web3 wallet containing the V2 POLAR that you want to migrate from is connected to the migration page.
- Approve Polarv2. Then click migrate > Confirm transaction.
- Done! You will automatically burn your V2 POLAR and receive V3 POLAR at a ratio of 1:100.
- To re-add LP, use the PancakeSwap v2 swap and liquidity page (NOT the Polaris exchange) while we update the Polaris Exchange UI:
Partner Supernovas
Current partner Supernovas are not affected by the Polaris Migration.
In terms of the PCS Migration, Partners would (in theory) need to re-deploy a new supernova contract in order to upgrade to V2 PCS liquidity. However, given the short time frames of the existing Partner Supernovas, we do not anticipate any projects needing to do this in practice.
We therefore expect that the current Partner Supernovas (using V1 PCS liquidity) will not need to take any action and the Supernovas will simply expire as was originally anticipated.
Future Partner Supernovas will be deployed using the updated V2 PCS liquidity.
What’s Happening to Vaults?
The Polaris Vaults are an extension of the Farms (e.g. implementing compounding strategies on that POLAR inflationary drip) and are therefore being discontinued together with the Farms.
We are in discussions with major BSC farming and vault strategy platforms with a view to giving Polarites exposure to this type of strategy in a manner that does not negatively impact the overall POLAR ecosystem.
Tokenomics
As we mentioned in our V3 announcement, POLAR V3 will be implemented at a 1:100 ratio against the current V2 tokenomics.
POLAR V3 will be a fixed, pre-mined supply that will be distributed to the Polaris community via Supernovas only.
We have broke down the the V3 tokenomics in more details below:
- Total supply: 50,000,000 POLARv3
- V3 Migration Fund: 16,000,000 (estimated) ~35%*
- Team: 5,000,000 (75% vested over 12 months) — 10%**
- Community Rewards: 2,500,000–5%
- Supernova Liquidity Mining Rewards: 25,000,000–50%
*Leftover migration fund will be sent to Community rewards
**The team token allocation reflects the loss of the “POLAR drip” that was previously used to fund ongoing development under the V2 tokenomics. We are also onboarding new strategic partners, developers, graphic designers and community managers which will be supported using this vested wallet.
V3 Launch Supernova Pools
Polaris V3 will launch with 3 Supernovas (using PCSv3 router) that will run for up to 2 years.
You’ll still be able to access the Legacy Liquidity page to manage your old POLARv2 LPs.
1. Stake POLARv3/bUSD Earn POLARv3 (50% of rewards)
16,100,600 POLARv3 rewards over 2 years (5x bonus over 90 days of continuous staking)
2. Stake POLARv3/BNB Earn POLARv3 (40% of rewards)
12,880,480 POLARv3 rewards over 1 years (3x bonus over 45 days of continuous staking)
3. Stake POLARv3 POLARv3 (10% of rewards)
3,220,120 POLARv3 rewards over 90 days (2x bonus over 14 days of continuous staking)
Polaris Resources
🌌 Website: https://polarisdefi.io
👨🌾 Farm & Supernovas: https://app.polarisdefi.io/
💻 Github: https://github.com/polarisdefi/
📖 Gitbook Docs: https://polarisproject.gitbook.io/polaris-defi/
🐦 Twitter: https://twitter.com/polarisdefi
💬 Telegram: https://t.me/polarisdefi
🎮 Discord: https://discord.gg/v3w9wZgcG6
📢 Telegram Announcement: t.me/polarisdefiANN
🥞 PancakeSwap (POLARv3): https://exchange.pancakeswap.finance/#/swap?outputCurrency=0x70905594023Cb2f37F3103fDc70315ad1601D6EF
Disclaimer
Polaris a DeFi experiment. The $POLAR token carries no intrinsic financial value and does not pretend otherwise.
Polaris contracts have not been audited yet, however our team contributors and developers have made reasonable efforts to ensure the protocol’s integrity through testing and collaboration, as well as by developing Polaris using battle-tested code. Any person or entity who chooses to engage with the POLAR and associated contracts are doing so completely at their own risk.
The Polaris developmental roadmap is aspirational and delivery (or non-delivery) of these objectives is entirely at the team’s sole discretion.
To facilitate faster development and improvements, the Polaris team will remain anonymous in line with common DeFi industry practice.
The Polaris team and community will not be liable in any way for financial losses incurred due to your use of the Polaris platform (including technical issues or liquidity providing activities) or $POLAR token.
Please perform your own due diligence and thorough research on Polaris DeFi and the other protocols before taking any action.
