PancakeSwap: You Need to Remove LP Tokens

in Project HOPE3 years ago

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But WHY?

PancakeSwap is getting ready for V2 which means that current LP tokens have to migrate to new LP tokens!
Here is the tweet

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source

It seems like more good things are coming to PancakeSwap with this upgrade but their current architecture won't be able to upgrade their contracts automatically so you have to manually migrate your LP tokens when they migrate the system.
The migration will start 4/23/2021 @5AM UTC

What is going to happen to the old LP tokens after migration?

You won't receive any rewards from the old LP tokens because they will stop the old rewards and start the new ones after migration.

What you have to do is simple.

Unstake your LP tokens from old farms
Remove liquidity from old type of LP
Add liquidity to the new type of LP
Restake in new farms

Take out the old LP tokens and put it into a new LP

It seems like they are preparing the migration page right now so if you don't know what to do, you can look at the page and guide you through the migration process.
But I couldn't find the page so maybe the page isn't ready yet. They still have time before migration so if you need help on this, keep your eyes peeled 👀

If you are not farming? Only staking in Syrup pools? You don't need to do anything. This V2 migration won't affect syrup pools.

I think this upgrade is interesting because this migration will bring super high APRs to the farms and they can be very rewarding!

More info
The Great Migration Vote!
https://pancakeswap.medium.com/the-great-migration-vote-4093cb3edf23


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Always a new update in the pipe!

Hi dear friend @tomoyan

Only staking in Syrup pools?

I don't know what you mean with syrop, I recently discovered this about the pools and entered a TLM pool in binance, of course with little money to try more than everything, I will go through this PancakeSwap platform if you recommend it it must be very good.
regards