CVI Platform will be Migrated from USDT to USDC to Support the Platform’s Advancement
We are happy to announce the CVI Platform migration from the USDT pools on both Ethereum and Polygon networks, to the USDC pools.
The migration will officially happen on Wednesday, November 17th, at 11:00 AM UTC.
As a first step before the migration, we will close the option to open new positions and provide further liquidity to the USDT pools in both the Ethereum and Polygon networks from today, Sunday, 14th of November.
We would like to emphasize that the existing positions will remain open and that traders, as well as existing liquidity providers who staked their CVI-USDT LP tokens, will continue to receive their GOVI rewards.
Migrating from USDT pools to USDC ones will allow improvements of the platform, such as:
- An improved AMM, which would protect liquidity providers without hurting traders’ experience.
- Margin trading in the new pools.
- Composability with the upcoming volatility tokens.
What does this migration mean, and what will happen on the official migration day, November 17th?
- We will open a new USDC pool on the Ethereum network. In Polygon, there already is an existing and open USDC pool.
- We will halt the distribution of GOVI rewards to traders and liquidity providers of the USDT pool.
- Users who are still providing liquidity to the USDT platform will see a notification pop-up with clear explanations on how to migrate their liquidity to the USDC pool when connecting their wallet to the platform.
The migration process is simple, fast, and secure. All liquidity providers who complete the migration process will receive GOVI tokens rewards.
Please also note that once liquidity providers complete the migration, they need to manually stake their new CVI-USDC LP Tokens in the staking section of the CVI platform to continue receiving GOVI rewards.
For any inquiries on how to stake tokens on the CVI platform, please see our latest tutorial: https://www.youtube.com/watch?v=wot6rV9Z76Y