Hard Cap Migration - MasterApeV2
In January 2023, ApeSwap launched an upgraded BNB Chain suite of smart contracts, in part to implement the hard cap passed through DAO governance.
Before the upgrade, the MasterApe smart contract had been the primary contract controlling BANANA emissions on BNB Chain. One major limitation of the legacy version of the smart contract is that it could not facilitate fine-tuned changes to the rates or distribution of BANANA emissions. In other words, it could either have emissions turned on, or turned off.
To achieve finer control over BANANA emissions, including the implementation of the hard cap and maximum supply of 420M BANANA as voted on by the DAO in Governance Proposal 22, ApeSwap upgraded that MasterApe contract.
ApeSwap implemented this upgraded BNB Chain contract, aka MasterApe V2, as of January 24, 2023. To ensure that users are able to continue earning the rewards emitted by the new contract, they must migrate any staked assets from the old MasterApe contract to the new MasterApe V2 contract.
Assets staked in legacy MasterApe contract versions of the following ApeSwap products must be migrated to continue earning rewards:
The following products are not affected by the hard cap migration:
- Any pool besides the BANANA-BANANA pool
- Any Jungle Farms
- LP tokens themselves
- Any non-BNB Chain products (Polygon, ETH, Telos)
Users can visit the dedicated Hard Cap Migration page to migrate their assets. These are the steps to you’ll follow to ensure you continue earning rewards: 1) Unstake your assets from the old MasterApe product contracts
2) Approve the new MasterApe V2 product contracts
3) Stake your assets in the new MasterApe V2 product contracts
The Hard Cap Migration page will walk you through each of these steps, allowing you to complete the migration in as little as three minutes and six clicks. The page will automatically detect any of your assets staked on ApeSwap that need to be migrated, and provide easy-to-follow instructions on how to move your assets over. Still have questions? Users are encouraged to reach out to our Support team on Twitter, Telegram, or Discord.