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Migrating Funds from V1 to V2 Vaults
The PsyFi vaults received a major upgrade with the launch of a V2 vault architecture built on European cash settled options and trading through Serum. These vaults offer users superior yield through increased cash efficiency for option buyers, better user experience, and the ability to stake your vault tokens for staking rewards.
To make the process easier for users, V1 assets were migrated automatically into V2 vaults. Those assets are earning yield week to week. V1 users need to follow the steps below, in order to swap their V1 vault tokens to V2 so they can use their assets in PsyLend or withdraw from the vaults completely.
V2 Migration Page
- 1.
- 2.Connect your wallet.
- 3.You should see a modal that displays a "MIGRATE YOUR V1 VUALT TOKENS" button upon connecting your wallet. If this does not appear, click "V2 MIGRATION" on the navbar.
- 4.If you have V1 vault tokens in your wallet, you will now see them all listed on this page. Note, you must migrate all the V1 tokens at one time. The app does not support partial migrations.
- 5.Confirm the V1 assets listed and click "MIGRATE ALL TO V2".
- 6.Accept the transaction in your wallet.
- 7.Your funds have now been transferred to the V2 vaults!
- 8.
Migration Troubleshooting:
- Since V1 vaults are being deprecated, the vaults will no longer be accepting deposits or withdrawals. The deposit and withdrawal buttons will be disabled. If you want to withdrawal completely from the vaults, transfer your funds to V2 using the process above, and withdraw from the V2 vaults once complete. There is no withdrawal fee currently for the V2 vaults, though this may be subject to change.
- If you need to get back to the transfer modal, simply click on the Migration link in the navbar.
Last modified 1mo ago