An ERC-20 Token-Migration-Engine
You want to swap your ERC-20 token for a new one? Check out our PANDA-dApp: The ERC-20 Token-Migration-Engine.
What does the Token Swap Engine do?
In case a project decides to upgrade their token functionality and requires to exchange the old token for a newer version, this tool will be able to assist you. The Tool is capable of exchanging Token V1 with Token V2 in a 1:1 exchange. The Old V1 Token will then be burned.
Fortunately, we have developed the right dApp to do just that: PANDA allows a user to migrate one ERC-20 token for another. An intuitive dashboard supports the token holder and guides them through the whole migration process in a few simple steps. In fact, you only have to connect your wallet where the V1 token resigns, confirm the process and the token will be swapped 1:1 The GAS costs incurred for the corresponding migration transaction are borne by the token holder. Migration in this context means that the user sends his old V1 token to the contract defined by the PANDA platform and then receives the same amount of V2 tokens in return. Burned means that the old V1 token is sent to the zero address and neither the PANDA platform nor the project (or project owner) can reclaim the V1 token. The token is destroyed in the process.
The core of the PANDA dApp consists of an engine in the form of a smart contract. This smart contract, developed on the Ethereum platform, aims to exchange one ERC-20 token for another. This may be necessary if a previously developed token is to be renewed because new functions are to be added to the token. The function of the PANDA-dApp in doing this is in itself quite simple: the dApp takes the V1 token and mints the same amount of V2 tokens for the respective V1 token holder. To do this, the V2 token must first be developed, which will then replace the V1 token. The versions can then be migrated using the respective addresses of the V1 and V2 tokens. Once the V2 token has been developed, the dApp can go live. Token holders of V1 can now swap their tokens to the engine. The engine then mints the corresponding number of V2 tokens and burns the V1 tokens. The token holder then receives the V2 tokens.
Token Migration Overview
The owner can see the absolute amount of tokens already migrated. Also, the engine can be used by V1 token holders to update their tokens individually as well as by the engine owner to update tokens in whole batches.
The new V2 token must bring certain requirements in order for the PANDA platform to perform token migration:
There is an owner account with basic authorization to control certain functions such as token reclamation. This includes the ability to transfer ownership of the token contract to other accounts as needed.
Tokens are exchanged by minting, which can only be retrieved by the minter. During the initial swap phase, the "Swap Smart Contract" is the only minter. After all V1 tokens have been swapped, the minter relinquishes itself, leaving no minter for V2 tokens.
The token owner can burn a certain amount of tokens.
Only accounts that are whitelisted are allowed to vote in the ecosystem. This whitelist is managed by the whitelist managers. Accounts can be added or removed individually or in batches by the manager. This whitelist is not used for token transfer, only for identifying who is eligible to vote.
The upgrade token swap engine must be able to be connected so that it can mint new tokens for old token holders. Only the owner can set the engine address. This action is unique.
Disconnects the upgrade token swap engine and mints the remaining tokens into the liquidity pool. Only the owner can disconnect the engine. This action is also unique.
Use PANDA-dApp & migrate your tokenDiscover
How we work
Quick and easy on-boarding process in 3 steps
PANDA is already developed and that means you can start right away. The clarification of all details (see above) takes about 2 weeks and then you can start right away. Of course we will test everything with you on the testnet. We recommend using it for 1 year (feel free to ask us about the annual discount).