What is the AB bridge migration?
Two weeks ago, Avalanche released a new bridge, allowing people to bring over tokens to Avalanche from Ethereum. This new bridge is faster and 5x cheaper than the old bridge to Ethereum. However, it comes with a unique challenge: the old bridge tokens are not compatible with the new bridge tokens.
To solve this issue, Avalanche has provided a way to swap the old bridge tokens for the new bridge tokens. Migration is currently live.
To migrate your old bridge tokens to the new bridge tokens visit the AB Bridge website.
What this means for you
This migration is only necessary for tokens that were originally bridged from Ethereum. The following includes the full list of affected tokens:
Note that the new bridge tokens use the suffix .e to differentiate from the old tokens. Ex: ETH is the old token, ETH.e is the new token.
Pangolin Liquidity
If you are deposited into an auto-compounding pool on Snowball from Pangolin using the old bridge tokens, then you will need to withdraw your funds, swap your old bridge tokens for the new bridge tokens, and then redeposit.
If you are deposited with tokens native to Avalanche, then you will not need to move any funds.
Pangolin has turned off rewards for their old pools as of Tuesday, August 17. Deposit into the new pools on Snowball here.
View Pangolin’s guide for swapping to the new tokens here.
Trader Joe Liquidity
If you are deposited into an auto-compounding pool on Snowball from Trader Joe using the old bridge tokens, then you will need to withdraw your funds, swap your old bridge tokens for the new bridge tokens, and then redeposit.
If you are deposited with tokens native to Avalanche, then you will not need to move any funds.
Trader Joe has turned off rewards for their old pools as of Monday, August 16. Deposit into the new pools on Snowball here.
View Trader Joe’s guide for swapping to the new tokens here.
Gauge voting & 1.5x reward boost
This week you can now vote on the new AB Bridge token pools. If you hold xSNOB and have previously voted to incentivize an Ethereum-based token pool, we encourage you to re-vote on the new pools. Note that the new bridge tokens use the suffix .e to differentiate from the old tokens. Ex: ETH is the old token, ETH.e is the new token.
Additionally, to celebrate the bridge migration, we will be providing a 1.5x increase in SNOB rewards. This boost will last for 2 weeks and will be distributed to pools based on gauge voting.
New s4D StableVault
With the AB Bridge migration, our previous StableVaults will now be outdated. To accommodate this, we have launched a new s4D StableVault. This StableVault is made of DAI.e, USDT.e, TUSD, and FRAX.
The s4D StableVault is currently live for deposits. The previous s3D and s3F StableVaults will allow swaps until Sunday, August 22, or until liquidity is sufficiently low.
About Snowball
Snowball is an auto-compounder for liquidity rewards and an automated market maker (AMM) for stablecoins. It was the first auto-compounder launched on Avalanche and it prides itself on being entirely community run. If you’d like to be a part of Snowball, join the conversation in Discord or Telegram. Stay up to date on our Twitter.
