Why was a migration deadline put in place?
Due to the outstanding risks to the old TAROT token and its exposure to Multichain, a full token migration was necessary. The migration window was originally set for 30 days to allow for a seamless transition to the new TAROT token without carrying over the outstanding risks stemming from the old token’s exposure to Multichain.
For more details on the original token migration, see TAROT II: The Legend Continues.
There remain significant ongoing risks associated with Multichain. On multiple occasions, Multichain-controlled addresses have demonstrated a capability and willingness to drain tokens from “anyToken” contracts:
CoinDesk: Exploit of Fantom, Moonriver and Dogechain Crypto Bridges Confirmed by Multichain Team
Cointelegraph: Multichain Executor has been ‘draining’ AnySwap tokens
Why is the migration reopening?
Some long-time community members and v1 TAROT token holders were unable to migrate their old TAROT tokens during the migration period. After some deliberation, a solution has been developed to reopen the migration process.
Limited quantities of the new TAROT token will remain in the migrator contracts’ balances to facilitate migrations. In this way, some of the risk from the old token’s exposure to Multichain can be mitigated, limiting potential impact on the new TAROT token.
In the event that a migrator contract’s balance of new TAROT tokens is fully migrated, additional tokens can be replenished from the protocol reserves.
When will the token migration reopen?
The migration is scheduled to recommence on December 1, 2023 at 00:00 GMT.
Once the migration resumes, old tokens can be migrated within the Tarot UI: https://www.tarot.to/migrate
Barring any unforseen circumstances regarding Multichain, the migration period will last for at least 30 days, ending no earlier than January 1, 2024 at 00:00 GMT.
With infinite resolve,
Join us:
- Website: https://tarot.to/
- Discord: https://discord.gg/6ByFHBjqE8
- Twitter: https://twitter.com/TarotFinance
