✨Arbitrum Migration

Slingshot DAO is moving to Arbitrum! This page will be continuously updated as more information becomes available.

On August 18th 2024, the community voted to delay the migration in favor of upgrading the Slingshot dApp. New target date is for Q4 2024.

On June 17th 12:00 UTC a snapshot was taken of the Polygon PoS chain. Block number: 58269260. This snapshot will be used to recreate $SLING token balances and token locks on Arbitrum.

On June 3rd, 2024, the community decided in a general vote to move the Slingshot DAO ecosystem to Arbitrum.

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Key information

Why is Slingshot migrating to Arbitrum?

The community voted for it 🙌

The main benefits and rationale are outlined in the SIP-13 proposal, which can be found here.

When will the migration occur?

The migration will take place with a target of having finished the migration by Q4 2024.

What do token holders need to do?

Most token holders won't need to do anything!

A new $SLING token will be deployed on Arbitrum.

Currently unlocked $SLING tokens and locked $SLING tokens (locked from within the Slingshot dApp) will be recreated 1:1 on the Arbitrum chain.

In some circumstances though, there may be some extra actions to take:

⚠️ If you are a liquidity provider

You should withdraw and stop offering liquidity as soon as possible. A snapshot of the Polygon chain will occur on the 17th June 2024. To avoid losses, anyone providing liquidity should stop doing so before this date.

⚠️ If you have locked $SLING tokens outside of the SlingShot dApp

$SLING tokens locked in the voting escrow contract and unlocked token balances will be recreated on Arbitrum based on the Polygon chain snapshot. However, if you have $SLING locked in other contracts, or $SLING balance held in a type of smart contract, then it may not be possible to recreate those states on Arbitrum directly. Please reach out for support on Discord if you think this applies to you.

When will the Polygon chain snapshot occur?

A snapshot of the Polygon chain was taken on the 17th June 12:00 UTC 2024.

The Unix timestamp was: 1718625600

The block number on Polygon PoS was: 58269260

This snapshot will be used to recreate $SLING token balances and token locks on Arbitrum.

Will liquidity be available during the migration?

To protect liquidity providers, it is strongly recommended that liquidity providers stop and withdraw their tokens during the migration period.

After the migration has been completed, liquidity can be provisioned once again.

When will the Slingshot dApp leaderboards resume?

The Slingshot dApp will resume after the migration as completed. This is currently targeted to be Q4 2024.

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Frequently asked questions

Will $SLING tokens be recreated 1:1 during the migration?

A new $SLING token will be deployed on Arbitrum.

$SLING token balances and token locks will be recreated 1:1 on the Arbitrum chain.

There will be a few very rare exceptions, such as those interacting with third party smart contracts (see What do token holders need to do?).

There will be no new supply created.

The total supply of $SLING tokens will remain the same.

Will there be any changes to the tokenomics or the total supply of $SLING after the migration?

No.

What will happen to the old $SLING token after migration?

The old $SLING tokens on Polygon will continue to exist but will have no utility after the migration.

$SLING tokens on Polygon are immutable and cannot be frozen or otherwise locked, so will continue to exist after a migration occurs.

The old tokens will no longer be able to be used to vote for governance proposals, or used with the Slingshot dApp.

How will token balances be transferred from the old chain to the new chain?

A snapshot of $SLING holders on Polygon will be taken on the 17th July 2024.

The DAOs working groups and contributors will do their best to recreate this snapshot of $SLING holders on the new chain.

If you have any concerns or issues, please reach out for support on Discord.