IOTA details migration of tokens to its Firefly wallet
IOTA published details about the token migration process to the new Firefly wallet. A new announcement is posted outlining the steps required to migrate tokens. The Chrysalis network will launch on April 28, and users can migrate their tokens in the pre-Chrysalis deadline of April 21-28. The migration process will also be available after the release of Chrysalis.
Chrysalis is the biggest upgrade to IOTA's blockchain. It is slated for April and will bring many new features that we look forward to from Coordinate. The migration process to the new Chrysalis consists of many changes and updates. One of them is converting tokens to the new system that will happen soon. IOTA says that the Pre-Chrusalis migration is a great opportunity to migrate tokens to the new Firefly wallet. Makes tokens ready and interoperable for the Chrysalis network.
IOTA holders can migrate their tokens starting April 21, and the Chrysalis network will go live on April 28. Migration will also be available after migration. The migration process is straightforward. According to him ad:
“After entering your seed, Firefly will create a new mnemonic and generate an EdDSA address on the Chrysalis network for your tokens. Heavy lifting is fully automated through the Firefly wallet, and token holders are guided by a simple interface. This post serves as a supplemental guide to automatic token migration. Think of it as a side-by-side reference to make sure everything is running smoothly.
The IOTA announcement provides examples of common and rare migration processes and how to handle them. One of the important notes on migration covers Ledger Nano users. Ledger Nano users cannot migrate their IOTA tokens in the Pre-Chrysalis step. They should wait for the network launch and migrate their tokens after April 28. IOTA says the Ledger implementation for Chrysalis is ready, but there is no rush to include hardware wallet users in the current step.
Users who have IOTA tokens on exchanges do not have to do anything special for the migration. The exchanges will migrate the tokens for them to the new network. Another important notice is for those users who have many small amounts of IOTA tokens. They cannot migrate these amounts and must first consolidate them into Trinity.
Firefly migration steps are not complicated. You need to download Firefly for your preferred operating system (Windows, Mac, Linux) and load the existing speed by entering the seed or importing a Trinity file. The following steps are similar and the tokens will be migrated to Chrysalis shortly.
If you are interested in this project and want to be informed of everything that happens, visit our Iota News section