Upcoming $PROS token contract upgrade
With the passing of PIP-4 with strong support from the community last month, the highly anticipated $PROS token contract upgrade will soon take place. Read on for an overview of what to expect.
Key Details
- Upgrade swap ratio: holders of $PROS tokens will be eligible to swap on a 1:1 ratio to the upgraded $PROS token (no change in total supply and circulating supply post-swap)
- Name: Prosper brand and $PROS ticker will remain the same
- Upgrade period: swap portal estimated to go live from the week of 20 January 2025 and open until early March
- Supported chains: Ethereum and BNB Smart Chain (BSC)
- New contract audit: view here
Token Upgrade Process Overview
Further details and FAQs on the upgrade process will be shared early next week, with plenty of time for holders to prepare. In general, we have endeavored to make the transition smooth and easy for $PROS holders:
For users holding $PROS on centralized exchanges:
We are currently finalizing the timing of support by each partner—look out for more announcements over the coming week. Generally, the process will be seamless for users, with the exchanges working with the team directly to complete the swap for all existing $PROS tokens on their platforms and automatically crediting the new tokens to users' accounts.
During this period, exchanges typically will suspend deposit / withdrawal of old tokens. Post-completion of the swap, they will reopen deposit / withdrawal of the tokens, supporting only the new token contract addresses.
Confirmed exchanges:
We will update this post (as well as the more detailed guide next week) with exchange-specific information as it becomes available.
For users with tokens in self-custodial wallets (e.g., MetaMask):
A swap portal on the Prosper dApp will be made available for direct migration to the upgraded token (the migration function was also reviewed by SlowMist as part of the audit above). The swap portal is expected to go live the week of 20 January 2025 and will be open at least until the beginning of March, allowing sufficient time for holders to complete the swap.
Holders can initiate the 1:1 swap from either Ethereum or BSC depending on which chain they are holding their $PROS tokens, meaning that users do not need to bridge tokens from one chain to another ahead of time. Holders will then receive new PROS tokens on the same chain.
(Note that swapping via the dApp requires holders to pay for the associated blockchain network gas fees.)
For users who are currently staking $PROS on the dApp:
Please feel free to wait until the current staking cycle has concluded on 27 January 2024. At that point in time, you may simply unstake, wait for the unbonding period to pass, and then upgrade your tokens after that per the process for tokens held in self-custodial wallets.
(The February staking cycle will only support upgraded $PROS tokens. As such, we will delay the start of that cycle by a few days to ensure holders who have fully staked until 27 January have enough time to unstake, unbond, and swap for the upgraded tokens before February staking begins.)
Reminder: further details and FAQs on the upgrade process will be shared early next week
Other Useful Information
- Current smart contract addresses:
- Ethereum:
0x8642a849d0dcb7a15a974794668adcfbe4794b56(View on Etherscan) - BNB Smart Chain (BSC):
0xed8c8aa8299c10f067496bb66f8cc7fb338a3405(View on BSCscan)
- Ethereum:
- Upgraded smart contract addresses (same address across both chains):
- Ethereum:
0x915424Ac489433130d92B04096F3b96c82e92a9D(View on Etherscan) - BNB Smart Chain (BSC):
0x915424Ac489433130d92B04096F3b96c82e92a9D(View on BSCscan)
- Ethereum:
- Audit report of the new token contract: view here on SlowMist’s GitHub
- No change to total token supply and circulating supply as part of the swap
As usual, be sure to follow the latest updates from https://www.prosper-fi.com/ and https://x.com/prosperfi_BTC. Community members are also encouraged to join the conversation on Telegram at https://t.me/prosperfi.
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