Migration Handbook

Recommended Gas

We recommend migrating when gas is less than 20 Gwei. Generally, the time period of low gas is:

  • UTC Time: 12:00 AM to 12:00 PM

  • Pacific Standard Time: 5:00 PM - 3:00 AM

  • Beijing Time: 8:00 am to 8:00 pm

Migration Flow Demo

Video

You can refer to this video for migration:

Graphic

Please make sure your version is v1.9.2 before migrating.

Step #1: Check Status

First, the status of your position will be checked for any assets in liquidation or timelock.

Step #2: Unmatch and Claim

If you have Shared Pool Positions (P2P), we will unmatch your positions and claim rewards for you.

At the same time, we provide you with the "Re-stake" function in ParaX, so that you can easily complete re-staking after the migration is completed.

Step #3: Migrate Assets and Debt

Migrate your Supply and Borrow Positions to ParaX.

Click the Migrate All button to start the migration.

ERC-20 tokens will require your authorization. In order to prevent the migration from failing due to accuracy problems, please click the "Use site suggestion" button when authorizing.

If you accidentally close the browser during the migration, you can reopen the migration page and continue the migration from where you left off.

If you migrated BAYC, MAYC, or BAKC assets that were being staked in NFT or P2P pools, you will need to re-stake your NFTs in the new ParaX pools yourself.

NFT Delegation

If you have used ParaSpace’s NFT Delegation, you will need to re-delegate your assets using ParaX’s NFT Delegation. The delegation process is the same as before, done through the ‘NFT Delegation’ tab under your ParaX profile, and using Delegate.

Migration FAQ

Q: Why does it fail when migrating ERC-20 assets?

A: When approving ERC-20 tokens, choosing the "Max" spending cap will result in precision problems, causing the migration to fail. Make sure you choose "Use site suggestion" spending cap when approving ERC-20 assets.

Q: Check status failed with liquidation error

A: You need to ensure that your HF is greater than 1 and the NFT HF is greater than 1.5. If you have a position that is being liquidated, please be sure to solve the liquidation problem first. You can increase your HF by covering positions or repaying debt. Once your HF and NFT HF is at a healthy level, you can continue the migration flow.

Q: An unknown error occurred

A: If you see this error, it could be due to:

  1. NFT doesn't unmatch in P2P

  2. ParaSpace V1 insufficient liquidity

  3. ParaX insufficient liquidity

  4. cApe has too much debt to unwind

Contact Us

Please refer to this document if you have any questions. If you still have questions, you can contact us through the following communication channels:

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