In this the third instalment of our Dock token migration series, we’re going to discuss the timing of the migration, which exchanges have so far confirmed their support and the steps we’ll be taking to ensure a smooth migration through various support channels. If you haven’t read our part 1 post you can do so here, while our part 2 post on incentives is available here.
We’re pleased to confirm that we have now selected a security auditor, Solidified, to review our migration process and code and they will begin work next week. Once that is complete and their recommendations have been actioned, we will publish their report along with a guide describing the exchange process. We will do this a few days in advance of our planned commencement date, the 8th of December.
Our aim is to enable holders to migrate their tokens for up to 3 months, with no further swaps taking place after Sunday the 31st of March 2021. As per our earlier blog post on incentives, those who migrate within the first 5 weeks will share in a 20 million DOCK token pool (value of over $250k at the time of writing) and have the option to access an additional vesting bonus pool containing 30 million DOCK (value circa $390k).
Exchanges that have currently agreed to support the migration are: Binance, Kucoin, AAX, BKEX, Big One and Gate.io. And while any DOCK holder will be able to exchange with Dock directly from the 8th of December, it is not yet clear if all exchanges will be supporting the migration from this date. We will of course publish any information relating to the timing of exchange support as soon it is confirmed by them. Discussions are ongoing with other exchanges and we’re optimistic that more will confirm their support in the coming days and weeks.
As mentioned above, Dock will also provide a way to migrate tokens directly through our own migration portal without using exchanges. In using a combination of direct migration and multiple exchanges, our intention is to give the Dock community as many options as we could. However, there are some differences to be aware of. Only holders of DOCK migrating with Dock directly will be able to decide whether to vest their tokens. It is also important to note that when migrating via exchanges that the exchanges will assume responsibility for distributing token bonuses to their users.
And for the avoidance of doubt, after migrating ERC20 compatible wallets should no longer be used to store and transact new Dock tokens. Users will need to switch to our fork of Polkadot-JS Apps, a well-used and tested browser-based wallet. We will also be issuing instructions for users wishing the increased levels of security offered by Parity Signer and for those who use hardware wallets, we will be submitting a pull request to Ledger to enable new DOCK tokens to be stored on Ledger Nano S in the coming weeks.
While we have designed our process to be as secure and user-friendly as possible, there will undoubtedly be times that holders require additional support. Dock will provide this via Telegram, Riot (Element) and email. We think that opening up Dock Telegram to user comments will please many of the community who have requested this. We’ve also hired an additional personnel to assist with support requests.