Migration Guide
Unstake & Withdraw, Bridge, Stake again
On 30 Nov, we are launching xSigma BSC. It will feature gas refund, SIG token burn and boosted rewards program. Read more in the official announcement >>>
xSigma BSC is not live yet. This guide is intended to provide a high-level overview of which steps you might expect to take.

TL;DR

  • No need to rush, migration is optional. Your funds are safe!
  • Gas-wise, cheapest way is to withdraw one stablecoin
  • You will need to bridge your assets to BSC
  • DAI is almost non-represented on BSC, we use BUSD instead
  • On BSC, deposit & stake the same way you did on Ethereum
  • SIG rewards will be boosted on BSC after release
  • You will save a lot on gas fees staking & trading on BSC!

Important Introduction.

  1. 1.
    SIG token stays on ETH! It will be bridged to BSC. You DON'T NEED to sell your SIG on Ethereum.
  2. 2.
    It's not required to migrate your liquidity. Only Pool 1 will see reduced rewards. Pool 2 (SIG/ETH) and Pool 3 (SIG Staking) will continue to receive SIG.
  3. 3.
    Your current accumulated rewards in any Ethereum pools are not in danger.

Why migrate?

We will provide multiplied SIG rewards during first weeks of BSC launch. We welcome all the LPs who would like to support our v2 release.
Staking your stablecoins on BSC, you will be able to receive more SIG than on Ethereum. The additional rewards come from reduced Pool 1 on Ethereum rewards.

How to migrate?

At high level, to migrate, you need to follow these steps:
  1. 1.
    Unstake your SIG-LP from Pool 1 at Rewards page: https://app.xsigma.fi/stake/0
  2. 2.
    Withdraw SIG-LP to stablecoins: https://app.xsigma.fi/withdraw
  3. 3.
    Bridge your stablecoins to BSC blockchain
  4. 4.
    Deposit stablecoins on BSC version of xSigma: (TBA)
  5. 5.
    Stake to receive Rewards: (TBA)

Cost of migration

While gas on Ethereum is high, keep in mind that you only need to complete three transactions: unstake, withdraw, bridge.
To save gas, you might consider withdrawing only one stablecoin. If you do that, consider impermanent loss that comes from pool imbalance.
BSC transactions are regularly cheaper than Ethereum. Typical cost of transferring BEP20 token is 0.0002 BNB, which is about 0.10$.
Staking on BSC requires 4+ transactions: approve each of the stablecoins, deposit into stablecoin pool, approve SIG-LP for staking, stake SIG-LP.

Breakdown

Let's run over each of the steps again. Most of them are similar to Ethereum version. However, you will need to add BSC network into your wallet, and you will need to find a bridge that suits you best.

Unstake & Withdraw

  1. 1.
    Go to Rewards page
  2. 2.
    Go to Pool 1
  3. 3.
    Press Max, then Unstake
  4. 4.
    Sign transaction
  5. 5.
    Go to Deposit – Find Withdraw button on the bottom
  6. 6.
    Select Max to withdraw in balanced proportion,
  7. 7.
    (Optionally) Press stablecoin logo to withdraw all in this stablecoin
  8. 8.
    Press Withdraw and sign the transaction

Bridge

Find any bridge than allows ETH-BSC crosschain movement. Many CEX support output funds into BSC blockchain, including Binance.com. There also exists Anyswap.exchange as a more decentralized solution.
We'll be using Anyswap.exchange as an example:
  1. 1.
    Select Ethereum Mainnet network in your Metamask
  2. 2.
    Select the token you would like to transfer
  3. 3.
    Select BSC Mainnet as an output
  4. 4.
    Input the amount of token you're planning to bridge
  5. 5.
    Submit form and sign two transactions: Approve & Transfer.
  6. 6.
    Don't close this page! You will receive assets onto your
! Disclaimer ! Anyswap is not affiliated with xSigma. We only use this as an example. We recommend doing your own due diligence and selecting the most convenient and secure bridge option for you.
Also, keep in mind that xSigma BSC operated their pool with USDC, USDT and BUSD. This means you wouldn't need your DAI, and you either need to convert them to BUSD, or don't withdraw SIG-LP to DAI to begin with.

Deposit & Stake

These steps are basically the same as Ethereum version. This section will be updated with relevant screenshots after the platform release.

Benefits of staking on BSC

  1. 1.
    xSigma BSC supports staking USDC, USDT and BUSD stablecoins.
  2. 2.
    Initial release will receive boosted SIG rewards (TBA)
  3. 3.
    xSigma has processed over 1B$ in stablecoins on Ethereum blockchain, proving to be a safe staking option without impermanent loss.
We are highly thankful to all the LPs who provide their liquidity to us! This helps us run our business of being a stablecoin exchange.
Your support is especially important with our BSC launch, where we plan to disrupt existing exchanges by bringing new features: SIG buyback & burn and gas cashback!
Last modified 10d ago