We are pleased to announce that Niubiswap will be migrating its pools to a new v2 contract! We are going to wait for the initial release as we want to see how stable Pancake migration is at launch. Since it’s based on the same concept, we feel it would be more efficient to approach it in this way. Taking this approach allows us time to ensure the safety and security of all our community members and users while also helping maintain a more sustainable ecosystem!
The goal is to keep most everything the same, with a few minor adjustments to our pools to account for potential problems. Users may see an increase in APY earnings from farming due to these adjustments.
This is a hands off master contract that will run without any kind of outside interference whatsoever to further entrust the community in our vision to provide a truly decentralized governance platform. We are also planning to create NIU-LPs in our v2 pools for farming!
Creating new pools will allow us to generate and stabilize a healthy APY for a sustainable and liquid ecosystem by reducing the amount of slippage needed for swaps due to recent events regarding the Cake LP Pool migration.
With the current contracts being static and unavailable for upgrade, we cannot change the contracts for price gap widening and impact increases due to the current Cake LP Pool
migration that will be ongoing. Migrating to new contracts will allow us to make minor changes to fix potential price slippage issues caused by their migration.
To facilitate a smooth migration, once Liquidity is removed from the V1 ecosystem by mid May, we will then migrate to the v2 contract. It is important that we give the community enough time to get their affairs in order so we can help facilitate a smooth and efficient swap to our new contracts.
What do You need to do?
If you are currently in possession of PancakeSwap LP Tokens, whether they’re staked in farms, vaults, or simply in your wallet, you’ll need to:
1. Unstake your LP tokens from old farms
2. Remove liquidity from old type of LP
3. Add liquidity to the new type of LP
4. Restake in new farms
If you don’t have any LPs staked, well, then you don’t need to do anything at all!
We will be hosting a Q&A session to ensure all users are educated on how to participate in the migration as we don’t want anyone left behind! Feel free to reach out to community admins and members to help if you run into any issues. We are here to help!
Please stay tuned for more info on the upcoming V2 initiation!
