In Musicoin Yellow Paper, we have described the strategy we are going to use to migrate the private blockchain to the Ethereum-based DeFi platform. Here we will present to our community how to migrate your existing $MUSIC coins to the new platform, thanks to the support of DoveWallet.
Tools You Need
- MetaMask wallet(download at https://metamask.io/ )
- https://Orbiter.musicoin.org
- https://DoveWallet.com
Conversion Rate and Procedure
After deliberation with our community, we settled the conversion rate from $MUSIC(old) to $MUSIC(new token) as 1:1.
- Download MetaMask(> v8.1.4) and connect to Musicoin blockchain at https://rpc.musicoin.org by click “Custom RPC” under MetaMask’s “Network” menu:
- “New RPC URL”: https://rpc.musicoin.org
- “ChainID”: 7762959
- “Symbol”: MUSIC - Send your $MUSIC from any web wallet to your metamask wallet address under the new network set at step 1. For other wallets, you can send them directly to Dove Wallet.
- Once the transfer is confirmed by the network, your $MUSIC will be shown in the MetaMask wallet(The process may take hours to finish given the current network hashrate).
- Go to https://dovewallet.com and register an account there(if you don’t have one yet). Once logged in, you can deposit your $MUSIC coins to the Dove wallet with the given deposit address.
- After a while, depending on network confirmations, Dove Wallet will show your coins in the wallet on their platform.
- Now you can add the new $MUSIC token to your MetaMask assets. Connect to “Main Ethereum Network” by selecting the “Networks” menu. Scroll down and click “Add Token”, go to the ”Custom Token” tab and paste the token contract address (0x35747eb4c027ebbf0a7f4e642627afcd7fd8cd7a). Metamask should automatically complete the symbol and decimal fields, click “Add Tokens”
- In the future, after Dove Wallet has swapped the old coins to the new erc20 token, you can withdraw your coins to metamask. Just paste the wallet address from your MetaMask in Dove withdrawal interface and Dove will facilitate all the following transactions.
(For a better understanding of the converting process, please visit a video made by our community member Steven: https://www.youtube.com/watch?v=YzJkBjBw_hU )
Deadline
We have set a deadline(Dec.15th, 2020) for this conversion before shutting down the old blockchain. Please finish the conversion procedure before this date. After the deadline, there will be no nodes running the old blockchain and no way to restore the old coins.
Support Us!
Please donate Musicoin Project if you are willing to help change the music industry together.
- ETH(USDT/USDC): 0xA8b6f436aB01edD6fB0A7696A58c8F80806490E5
- New $MUSIC: 0xA8b6f436aB01edD6fB0A7696A58c8F80806490E5
- BTC: 37W4AzVg8BwQbPYvunrzpZtHGenAzRon5Q
