Category

MYST

Introducing $MYST Tokenomics 2.0, powered by the IQ Protocol

PARSIQ IQ Protocol

Like most decentralised projects, tokenomics has always played a crucial role in Mysterium Network. 

Our utility token MYST is the reserve currency of our peer-to-peer bandwidth marketplace. Designed to fight internet censorship, it powers various applications like the Mysterium VPN, enabling trustless and anonymous payments between nodes and users.

Now we’re working on a new tokenomics model that will help us scale the network, introducing the beneficial components of decentralised finance (DeFi). DeFi has been the reigning champion of blockchain technology, but we believe there’s a valuable opportunity to leverage P2P protocols beyond finance alone. 

Our Tokenomics 2.0 model will create new opportunities for both node runners and token holders, who can put their funds to work through staking to earn rewards.

The engine behind our new tokenomics model was designed by PARSIQ. The team recently revealed their newly developed IQ Protocol, and Mysterium is the first project to integrate it.

What is the IQ Protocol?

The IQ Protocol is a groundbreaking solution that brings Mysterium Tokenomics 2.0 to life.

It was developed by PARSIQ, a next-generation blockchain analytics platform that connects blockchain activity to off-chain applications and devices.

The IQ Protocol is the world’s first “risk-free, collateral-less DeFi protocol to tokenize SaaS subscriptions”.

This innovation brings the power of DeFi to traditional services by facilitating a subscription model for blockchain projects. It also removes the requirement of upfront collateral, mitigating the typical risks associated with DeFi participation.

The IQ Protocol is the brainchild of Anatoly Ressin, PARSIQ’s Chief Architect, with creative backing from PARSIQ’s CTO Alan Durnev along with a dedicated team of developers and additional outside assistance. 

Mysterium also contributed to the development of the Protocol, building its Golang Software Development Kit and by participating in early discussions on math models behind its core functionalities. Launching with the IQ Protocol is a monitoring solution, giving users the right to provide services through MYST ownership or delegation. It also allows the protocol to track the distribution of tokens among node runners using Mysterium’s Hermes payment protocol.

How are we using the IQ Protocol in Tokenomics 2.0?

By integrating the IQ Protocol into our existing tokenomics framework, we can create a circular economy model in which node runners and MYST token holders can reap the benefits of staking.

This will happen via the Mysterium Delegation Pool, where holders can simply deposit their funds to earn rewards.

The IQ Protocol is designed to provide a completely risk-free environment for Mysterium delegators and renters (more on these new roles below).

Our Hermes smart contracts will be updated to work directly with the IQ Protocol pool, guaranteeing a non-custodial fee redistribution. This limits the risk usually associated with a typical lending platform or liquidity pool, such as risk of liquidation or risk of impermanent loss.

Furthermore, the IQ Protocol enables the integration of stablecoin payments within the network, helping to maintain price stability for dVPN services.

Mysterium’s current tokenomics model

 

To realise the impact of the IQ Protocol on our new tokenomics system, it’s important to understand our current limitations as a network;

1. Price stability for dVPN services

In our current iteration of tokenomics, dVPN consumers top up their accounts with a range of cryptocurrencies, including Bitcoin, Litecoin, Dai and Ether. These are converted into $MYST under the hood, and then paid out to node runners. While this crypto-agnostic option invites a range of blockchain communities to access the dVPN, it also leads to frequent price fluctuations. Users are therefore unable to accurately predict how much crypto they need in their accounts. 

Additionally, node runners who receive their earnings in MYST are also affected by price fluctuations.

2. Skin in the game

Currently, MYST token holders are only able to earn rewards by contributing funds to liquidity pools on certain DEXes, such as Uniswap and QuickSwap. While these incentives both grow and reward our community, liquidity providers must own the risk of impermanent loss. 

The new world of Tokenomics 2.0

What new benefits and opportunities will the IQ Protocol introduce?

1) DAI stablecoin as Payment

To eliminate the negative effect of cryptocurrency fluctuations for both dVPN users and node runners, we are introducing the DAI stablecoin as a means of payment in the peer-to-peer network.

dVPN users can also continue to pay with a range of other cryptocurrencies, while node runners will only receive their earnings in DAI.

 

2) Node runners stake MYST to earn 


All node runners will need to stake MYST in the network in order to provide dVPN services. The amount of DAI that can be earned depends on the amount of MYST at stake, which is proportional to the desired value of their daily rewards. The formula for this is 1 MYST = 0.01 DAI.

The more at stake, the higher a node runner’s earning potential. In this way, the MYST token becomes a life-time subscription to Mysterium Network. 

Here’s an example of how this will work: 

Alice would like to earn 10 DAI per day by running a Mysterium node. To do this, she will need to stake 1,000 MYST in the network. Alice’s earnings will be capped at 10 DAI / day. Once 10 DAI has been earned, Alice’s node will no longer be discoverable for that particular day. However, she can always stake additional MYST tokens to continue providing a service, and consequently increase her earning ability. 

3. MYST yield for token holders

To support token holders, there will be an opportunity to earn rewards by having a stake in the network. These MYST tokens will be taken out of the market and “frozen” in the Mysterium Delegation Pool.

The Delegation Pool is particularly useful for node runners who can’t buy and stake MYST in the network, as they will be able to “rent” tokens from the Pool.

MYST holders can delegate (rent) their tokens for a predefined time to node runners – for a fee. This will function similarly to a daily or monthly subscription, and where the magic of the IQ Protocol really kicks in.

Here’s an example:

Alice does not have 1,000 MYST, but she’d still like to earn 10 DAI / day by running a Mysterium node. Instead of using an exchange like Bittrex or Uniswap, Alice can rent 1,000 MYST from the MYST delegation pool. To do this, Alice simply pays 0.3 DAI / day* to the MYST token holder.

*This number is dynamic and subject to change depending on the size and duration of the delegation alongside the availability of liquidity in the delegation pool and other factors. 

 

The introduction of the Mysterium Delegation Pool creates a new revenue stream for all MYST token holders. By depositing MYST into the pool, token holders will be able to earn passive income similarly to other DeFi protocols, such as Compound or Aave.

The rewards that each participant receives will fluctuate based on the size of the pool and network activity. The more users, the more rewards that can be earned by exit nodes and token delegators.

 

Interested in how the IQ Protocol is going to transform Mysterium Network? Check out our Tokenomics 2.0 explainer video.

What’s next?

We’re still some months away from the launch of Tokenomics 2.0. We’re deep in development mode, collaborating with PARSIQ to ensure a flawless integration and a new system that is as seamless and enjoyable as our latest dVPN app.

First we’ll be bringing mainnet to Mysterium, which also kicks off the expansion of our ecosystem as a breeding ground for Web 3.0 innovation

Until then, our Pre-Mainnet network upgrade is kicking off in the next week, which introduces seven new features including free registrations, easy withdrawals and flexible bounty payouts.

We’ll be releasing more tokenomics news and updates in the coming months, so join your channel of choice to get the latest updates. 

Start running a Mysterium node today. Learn more about the MYST token.

$MYST now on QuickSwap! Discover the fastest, cheapest way to trade

$MYST token is now listed on QuickSwap. You can trade MYST with a number of coins and cryptocurrencies at a fraction of the cost and speed when compared to other Ethereum-based DEXs.

 

To celebrate our listing on QuickSwap and support our community, we are also covering the costs of transferring your funds from Ethereum to Polygon blockchain. 

What is QuickSwap?

 

QuickSwap is a fork of Uniswap, the original Automated Market Maker. Uniswap is the largest decentralized exchange on Ethereum, significantly contributing to the increase of trading activity on the network. However, extreme network congestion has led to high transaction fees, making this DEX very expensive to use.

QuickSwap solved Ethereum’s congestion problem by deploying Polygon’s Layer 2 technology. (Polygon is formerly known as Matic Network, and we will refer to Matic during certain steps in the trading guide, as their wallet, token and network are still labelled as such.)

To provide users with the best possible speeds and price, QuickSwap plans and executes a sequence of multiple token swaps. For example, to convert my QUICK tokens to XYZ tokens at the best possible price, QuickSwap determines the best route is to convert QUICK into SX, then DAI and then XYZ. Moreover, you don’t have to figure this out for yourself, it’s just chosen and executed automatically.

Why have we chosen QuickSwap?

 

QuickSwap provides its users with several important benefits:

 

1. High-speed transactions at significantly low costs

At the time of writing, the cost of a ‘fast’ transaction (~30 seconds) on the Ethereum network is $11.51, while the price for a single Uniswap trade costs more than $100 in fees!

Ethereum transaction gas costs as of April 2d, 2021.

 

In comparison, transactions via Polygon can be confirmed in as little as several seconds, at a cost of around $0.00002 USD.

Matic transaction gas costs as of March 31st, 2021. 

2. Familiar and easy-to-use interface

You can trade on QuickSwap directly from your wallet. Furthermore, if you have used Uniswap previously, you will have no issues when switching to QuickSwap as their interface is very similar.

3. Ability to earn passive income by providing liquidity + receive QUICK tokens

As with Uniswap, every user is able to earn passive income by providing liquidity to the various liquidity pools. Every trade on QuickSwap costs 0.3% of the total amount, a fee which is then split equally among liquidity providers based on their owned percentage of the pool. Additionally, liquidity miners also receive QUICK governance tokens.

How to trade MYST on QuickSwap

Now that you understand the benefits of trading via QuickSwap, it’s time to get moving. If you’ve already used QuickSwap in the past and have some tokens ready, you can start trading here. 

Otherwise, there’s some initial setup, including transferring your tokens from the Ethereum network so you can finally avoid that traffic jam and high gas costs. 

Step 1: Add a custom RPC for MATIC to your wallet

If you can’t see “Matic Mainnet” listed among your available networks in your wallet, you need to set this up before transferring funds and begin using QuickSwap. 

You can do this by adding “Matic Mainnet RPC” as a custom network in your wallet.

For MetaMask wallet users, press the network selection button on the top of the app. Go to “Custom RPC”:

After pressing “Custom RPC”, you should see a screen allowing you to set up a custom RPC. 

Enter the following Matic Mainnet details shown in the screenshot below:

Network Name: Matic Mainnet

New RPC URL: https://rpc-mainnet.matic.network

Chain ID: 137

Symbol: MATIC

Block Explorer URL: https://explorer.matic.network/

Once entered, press the “Save” button. That’s it! You are now connected to the Matic Mainnet.

 

Step 2: Move tokens from Ethereum to Matic Network

To move your funds from from Ethereum blockchain to the Matic one, you can use the Matic bridge:
https://wallet.matic.network/bridge/

You can then connect your own wallet of choice:

And sign the signature request:

After you have connected your wallet, you will see the Matic Wallet V2 interface. You should press “Move funds to Matic Mainnet”:

If you are transferring MATIC tokens, you will need to use the Plasma bridge. 

If you are transferring ERC20 like MYST or ETH, please use the PoS bridge.

The currency shown by default on this transfer module will be ETH, but you can choose the funds you would like to transfer, as shown in the next screenshot.

Once you select your chosen cryptocurrency, type the amount you’d like to transfer:

After you have chosen the desired cryptocurrency and its amount, press the “Transfer” button:

In the next step you will see a warning message. Press “Continue”:

On the next screen, you will see the transfer overview with the cost of each transaction in the process:

After pressing Continue, you will see the estimated transaction fee. Press “Continue” again:

You will need to finally confirm the transaction in your wallet: 

It can take nearly 8 minutes and two transactions to successfully transfer your funds to Matic. This should cost you approximately $25-20 (at the time of writing), so make sure you have enough ETH in your wallet to cover this fee.

You can also use this guide to transfer your funds back onto the Ethereum blockchain, if you need to one day.

Step 3: Claim you free MATIC tokens when you make a trade

To acquire free MATIC tokens with your next QuickSwap trade, go to the Quickswap.Exchange and on the right upper corner press the “CLAIM MATIC” button. Please be aware that you can only claim free tokens when you currently have no MATIC in your wallet. You will also need to have at least 1 DAI/USDC/USDT in your wallet.

Check your wallet to ensure that you received 0,1 Matic. 

Step 4: Swap for MYST

Choose the desired cryptocurrency for swap by pressing on “MATIC”:

You will see a list of all tokens available for trade. You can find MYST by typing it in the search bar:

You can also check the available liquidity pools by pressing the “Charts” button:

You can provide liquidity by pressing the “Add liquidity” button:

 

You can withdraw your funds at any time using the same Matic dashboard. 

And that’s it – you can now make super quick trades at a fraction of a cent! If you still have any questions, jump into our Telegram, Twitter or Discord and our team can help you out.

Happy swapping.

 

Some other useful links:

How to transfer funds from Ethereum to Matic

How to trade on QuickSwap

How to add tokens to liquidity pools on QuickSwap

$MYST now listed on Bittrex Global

Bittrex Mysterium MYST

Major exchange Bittrex has launched Mysterium on their platform, introducing MYST token to the global cryptocurrency market.

This listing is an exciting gateway to MYST and unlocks new liquidity for the entire Mysterium ecosystem. 

Anyone holding MYST will now be able to receive and store their tokens in their Bittrex wallets.

From 28th January, any Bittrex Global user holding Bitcoin (BTC) or USDT can easily get their hands on some MYST tokens.

The trading pairs available:

  • BTC <> MYST
  • USDT <> MYST

Note that users who send their old legacy MYST tokens (unmigrated) to the exchange will LOSE them permanently. Learn how to migrate manually here.

What this means for the community

Uganda protests social media tax

Internet censorship and surveillance is expected to worsen in 2021. In the second week of January alone, a total internet shutdown was ordered in Uganda, coordinated by the country’s dictatorial leadership, in an attempt to disrupt the nation’s democratic general election. 

Mysterium’s peer-to-peer network powers censorship-resistant applications which can give users secure and private access to the internet. We are reinventing the $30 billion VPN industry with this next-generation internet technology. 

It helps bypass debilitating blackouts which infringe on our basic human rights, such as freedom of speech and access to information. We’re rewiring the internet from the inside out, creating a new, more secure layer of the internet that cannot be switched off by governments or corporations.

And the MYST token ties it all together.

As we grow and make Mysterium Network an increasingly global platform, we need this native token to also be available and tradeable on a global level. 

Though built on Ethereum, we’re a blockchain agnostic project. We want to ensure our community is made up of a diverse range of cryptocurrency users, not just those familiar with Ethereum-based utility tokens. 

Making MYST available on a global exchange means we can lower the barrier to entry so our dVPN can be discovered and easily accessible by crypto holders everywhere.

What is MYST?

MYST is the network’s reserve currency. Instead of paying a regular VPN service a monthly subscription to unblock websites and apps, users pay peers (nodes) within the distributed network to connect to their residential IP address. Users can pay with MYST and other major cryptocurrencies, such as Bitcoin (BTC), while nodes easily earn MYST by the minute or hour.

The MYST token does more than transfer value in the network. It acts like digital fuel, powering Mysterium’s various functions and applications, while keeping the network safe from things like DDoS attacks. 

Like most other cryptocurrencies, MYST has helped forge new online communities, where global networks like ours can easily share internet resources with each other, such as storage, computing power, and now privacy.

web 3 mysterium

MYST token helps power new decentralised apps and platforms which make up the Web 3.0

What is Bittrex Global?

Bittrex Global is a secure, reliable and advanced digital asset trading platform developed for international (non-USA) customers and built on Bittrex’s cutting-edge technology. This international trading platform provides innovative tokens, while also providing instant trade execution, dependable digital wallets, and industry-leading security practices.

Some main benefits of trading via Bittrex:

  • Secure platform 

Bittrex Global employs the most reliable, effective security technologies available. Security is always their first priority. 

  • Custom-built trading engine

Their custom trading engine was designed to be scalable and to ensure that orders are executed in real-time. 

  • Fast deposits and withdrawals

A highly efficient and automated monitoring platform allows Bittrex to provide users the fastest transactions available today. This includes updates on balance, trade, and holding information. 

  • Driving Innovation 

To help drive innovation in the blockchain industry, Bittrex seeks to provide its users with an ever-growing selection of blockchain technologies and digital tokens, including tokenised stocks of Tesla, Apple and Amazon shares.

Bittrex trading competition

MYST trading competition on Bittrex Global

To kick off our launch on Bittrex Global, we’re giving away $15,000 in MYST tokens to our new community of Bittrex users.

The competition will kick off on the 1st of February and run for seven days. It includes three types of promotions, which reward Bittrex users when they trade with MYST. You can read about the trading competition on the Bittrex website.

Note that to participate in this competition you will need a Bittrex Global account.

 

Promotion #1: Trade MYST to win $7,500 in MYST Tokens

Promotion #2: Buy MYST to Win $5,000 in MYST Tokens

Promotion #3: Sign up for a Bittrex Global account, trade MYST, and get free tokens 

 

(Terms and conditions apply, so be sure to read these first on the Bittrex website.)

Uniswap Liquidity Campaign

For those seeking a decentralized trading alternative, we launched the MYST Liquidity Engagement Campaign earlier this month. It rewards liquidity providers for providing liquidity to the MYST/ETH pair on UniSwap.

We have already completed our latest airdrop for participants, with our liquidity pool doubling in size since the beginning of the campaign. So far, participants have received their share of more than 7700 $MYST.

Join the campaign here.

Uniswap Liquidity

Dive into the dVPN with MYST

Last month we shared details of Mysterium’s testnet upgrade, which came with some exciting new features and functionalities. This includes changes to our node registration flow, updates to My Mysterium Network, a different UI, the ability to earn in 2 networks during the migration, top up VPN apps with your crypto of choice (not just MYST), and the freedom to use our dApp in China!

We have been in stealth mode upgrading a small percentage of our user base and node runners onto Testnet 2.0, to test and learn. Now we’re rolling out Testnet 2.0 to everyone on Mysterium Network. 

You can experience the power of our global, decentralized network at your fingertips, using your crypto of choice. Top up your Mysterium dVPN account with Bitcoin, Litecoin, Ether or any other major crypto thanks to our Coingate integration. 

crypto vpn

Download Mysterium dVPN today and experience some MYST magic for yourself.

With Mysterium dVPN, you’ll get some free test tokens. After you run out of these tokens, you will be prompted to top up with MYST, BTC, LTC or other cryptocurrencies. Download the Mysterium VPN now and try before you buy.

Matic Network powers Mysterium P2P payments

Are you ready for faster, cheaper dVPN transactions? Matic Network is making it happen for you!

 

We’re excited to share that we’ve partnered with Matic Network. We’re only weeks away from our live integration with their custom Layer 2 solution, which will provide all users of Mysterium dVPN with almost instant P2P payments, at a fraction of the cost. (Quite literally, it’s a millionth of a fraction…)

 

The problem we are solving with Matic Network

As the wider community is surely aware, we as an industry have been facing specific challenges with expensive transaction fees on the Ethereum blockchain. 

With the freedom of speech online being debased, a global pandemic and other macro forces in play  – we see it as a priority to enable peer to peer payments in the most frictionless way possible.

Mysterium Network, with our pay as you go service, is a natural ally for emerging markets when high transaction fees on Ethereum lock these users out.

This integration with Matic Network will mean that Mysterium account creation and top-ups will happen on a sophisticated and scalable Layer 2 sidechain, instead of on the Ethereum blockchain.

MATIC network

What this means in technical terms:

  • Hermes, Mysterium’s accounting hub, will be running on both Ethereum and Matic – find out more about Hermes hub in our micropayments whitepaper.
  • You will be able to move MYST tokens onto Matic via a Hybrid Plasma-POS Bridge. This bridge provides a POS and a Plasma option to bridge assets between Ethereum and Matic. 
  • The mysterium payment system will support cross-chain payments. This means that VPN users can have funds on L2 Matic chain, and Mysterium node runners can accept funds on L1 (Ethereum)

 

Some relevant numbers – registration TX fee on…

ETH mainnet: 10.3322418978 MYST

Matic: 0.000005699966589 MYST

In short, Matic is  1, 812, 685 times cheaper!😱

 

Want to know more?

We have written extensively on the topic in the context of building out a global censorship-resistant layer. For those interested: 

  1. Layer 1, 2, 3 and beyond: The search for the cheapest and fastest microtransaction
  2. Introduction to micropayments in a decentralised virtual private network (dVPN)
  3. Read our technical deep dive on peer to peer micropayments.

Want to get involved in Mysterium Network today?

Mysterium網絡 is a decentralized VPN, with a growing global residential IP node network. There are versions for AndroidMac and Windows, currently free before our full launch.

Follow us on Twitter for regular updates or jump into our discord channel to speak directly with the core team.

 

Mysterium Network begins token migration

Mysterium Network begins its official token migration today, 31st August 2020. This will be a 1:1 token migration, so no new tokens will be created. Legacy tokens will not be supported in the network, so you will need to migrate your tokens before topping up in-app.

Here’s the new MYST token address: 0x4Cf89ca06ad997bC732Dc876ed2A7F26a9E7f361 

了解更多。 about how the Mysterium Network token migration moves the project towards peer to peer payments on the Ethereum blockchain.

What is Mysterium BetaNet?

Mysterium BetaNet is the first iteration of peer to peer payments within Mysterium Network: 

  • MYST as a means of value exchange in the network 
  • Payments are settled on the Ethereum blockchain 
  • It’s our second stage towards Mysterium Mainnet.

Mysterium Network is running an opt-in BetaNet. Mysterium Network will not be migrating TestNet users to BetaNet at this stage. VPN services continue to be accessible on Mysterium TestNet.

Sign up to take part in Mysterium BetaNet.

What should MYST token holders do?

MYST token holders are encouraged to migrate their tokens at their earliest convenience.  

Though there is no deadline on the migration, you will not be able to access VPN services within Mysterium Network using legacy MYST. 

If your MYST is held in a decentralised exchange or in a wallet, you will have to migrate your tokens yourself. Please follow the token migration guide. 

If you have your tokens stored on HitBTC, they will be migrated for you. The Mysterium Team is currently working with their team and will provide updates as we progress.

MYST token migration guide

Migrating a token is simply to upgrade the smart contract of that token. In the case of Mysterium, we are upgrading legacy MYST (pure ERC20) to new MYST (ERC20 with `permit`: 712-signed token approvals).

This is a 1:1 token migration so there will be no new tokens created.

How will MYST token migration work? 

From 31st of August, MYST token holders will be able to start migrating their tokens into the new token standard. This will become the standard MYST token used within Mysterium Network’s payment system. All exchanges are informed and are preparing for the upgrade on their end. If you are holding MYST on HitBTC exchange, the migration will be done automatically and you will not need to do anything. 

If you are storing your MYST tokens outside the exchanges, you will have to conduct the migration yourself. In essence, you will need to initiate a transaction from your wallet address which holds MYST tokens into our current token smart contract address and call an upgrade function upgrade(uint256 value) there.

Note:

  • While there will be no time limit for migrating tokens, please be aware that only the new token standard will be used in the Mysterium Network payment system and actively traded on exchanges. However, you will not lose your original MYST tokens if you do not migrate within a specific deadline. This means you can perform your token migration at a convenient time to you. Your wallets which are supporting ERC20 tokens will work fine with the upgraded MYST token as well. 
  • During the upgrade transaction, legacy MYST tokens will be burned and new MYST will be created and sent to the same address.
  • You can do migration in parts, so no worry if after migration someone sends you legacy MYST tokens. You will be able to migrate them as well.
  • The MYST migration process has no time limit. If anyone in the future sends you legacy MYST, you will be able to migrate them at any point in time.

Do I need to have ETH on the address where my MYST tokens are in order to migrate them successfully?

You need a small amount of ETH on the same address where your MYST tokens are in order to pay for gas fees on the Ethereum network. Due to high transaction fees on Ethereum blockchain, we recommend having at least 5 USD of ETH there and set at least 90.000 gas limit. You can check average gas fees before starting the migration here.

Token migration steps

Where should I store my MYST tokens and how do I manually migrate them?

The token migration process includes several options – MetaMask, Etherscan or MyEtherWallet (MEW). Through MyEtherWallet you can use:

  • Ledger (also possible to use with MetaMask and Etherscan)
  • Trezor (also possible to use with MetaMask and Etherscan)
  • Digital Bitbox
  • Secalot
  • Keystore / JSON File
  • Mnemonic phrase / seed
  • Private key

Token Migration using My Ether Wallet (MEW)

If your MYST tokens are stored in one of the above forms, please select MEW when you reach the step where you need to select the wallet that stores your MYST tokens. Once you have synchronised your wallet with MEW, you can start now with the token migration process:

  1. Go to the home page of https://myetherwallet.com
  2. Click on “Send > Send Transaction”
  3. Select ETH as a type of token to send and enter the 0 as amount
  4. Enter the address of the legacy MYST token smart contract:  0xa645264C5603E96c3b0B078cdab68733794B0A71
  5. Enable “Data & Gas Limit” under Advanced options. Set at least 90.000 gas limit.
  6. Add your payload data (use payload generation tool)

  7. Click on “Send Transaction”.
  8. You new tokens will be visible on new MYST smart contract address: 0x4Cf89ca06ad997bC732Dc876ed2A7F26a9E7f361

 

Token Migration using Etherscan

You are also able to migrate your tokens via Etherscan and interact with the contract directly.

  1. Go to the token contract page directly https://etherscan.io/address/0xa645264C5603E96c3b0B078cdab68733794B0A71
  2. Navigate to the “Write Contract” tab on the Contract page.
  3. Connect to a Web3 provider, such as MetaMask, Fortmatic or Portis. You can connect a hardware wallet such as Trezor or Ledger to your MetaMask extension, and thus interact without MYST leaving your hardware wallet.
  4. Find upgrade function in the list and type in the amount of tokens you’d like to migrate. NOTE: legacy MYST token had 8 zeros, so to migrate 123,05 MYST, you should type: 12305000000.
  5. Metamask will show popup, adjust gas fee and make a transaction. After the transaction is mined, your new tokens will be visible on the new MYST smart contract address: 0x4Cf89ca06ad997bC732Dc876ed2A7F26a9E7f361

 

Token Migration using Trust wallet

You’re able to upgrade the smart contract of MYST token inside your Trust Wallet app. Follow the steps below to help you in transition.

  1. Connect to your Trust Wallet, tab on Ethereum and click Send.
  2. Next, enter 0 in the ETH amount to send and the address of the legacy MYST token smart contract: 0xa645264C5603E96c3b0B078cdab68733794B0A71.
  3. Click on “Continue”.
  4. In the “Confirm Transaction” screen click on the gear icon at the top right corner.
  5. Head over to “Transaction Data (Optional)” and paste your payload generated by https://mysteriumnetwork.github.io/payload-generator/. Set at least a 90.000 gas limit.
  6. Click on “Save” and then “Confirm Transaction”.
  7. After a minute the transaction should be validated on the blockchain and your tokens will be successfully migrated.