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01 Mar 2022

1 min read

Decommissioning Wormhole V1

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TLDR;

  • Wormhole V1 bridge will be deprecated by March 31st
  • Users with V1 assets can migrate their tokens using the migration platform or send their tokens back to Ethereum using the V1 bridge
  • Note: Migration pools will still be up after March 31st

Wormhole V1

Wormhole V1 was initially built by Certus One and other core contributors in October 2020 as a bi-directional token bridge between Ethereum and Solana. The developers found an increase in demand for more interoperability and supported chains from the users’ feedback. As a result, Wormhole network, a generic message-passing protocol, was launched in August 2021. Unlike V1, the new protocol can connect to more chains and has increased functionality, enabling arbitrary data to be sent cross-chain, including tokens, NFTs, oracle data, governance decisions, and more!

Moving forward, Wormhole V1 will be decommissioned by March 31st, ensuring users have sufficient time to migrate their assets.

What to do now ser?

For the following V1 tokens on Solana, there is a migration platform allowing users to swap for 1–1 for Wormhole V2 tokens. Check out our guide here.

Tokens available for migration include:

  • UST V1
  • HBTC V1
  • HUSD V1
  • LUNA V1
  • BUSD V1
  • FTT V1
  • SRM V1
  • DAI V1

If you have V1 tokens that are not listed above, you must use the V1 token bridge to send the tokens back to Ethereum.

Attention: Do not use the Portal bridge for V1 tokens, as this would result in double wrapped and thus useless tokens!

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Please feel free to reach out to our friendly community managers on Discord or Telegram if you have any inquiries!

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