Dora Factory Kusama Chain Lease Expiry: A Migration to Ethereum Network

On April 3, the Dora Factory Kusama parallel chain lease expired on April 17, 2023 UTC time. All DORA-KSM on-chain tokens will be migrated 1:1 to the Ethereum main network. This migration allows DORA-KSM coin holders to access the liquidity of Ethereum DORA and participate in a wide range of DORA community activities and token usage scenarios. Coin holders on the Dora Factory Kusama parallel chain need to complete Ethereum address registration within 14 days.

Dora Factory Initiates KSM Parallel Chain Token Migration

On April 3, 2021, the Dora Factory Kusama parallel chain lease came to an end. After two years of serving as a platform for Dora Factory and other blockchain-based applications, the lease expired on April 17, 2023, at 00:00 UTC time. As a result, all DORA-KSM on-chain tokens will be migrated 1:1 to the Ethereum main network. This article discusses the migration process and how DORA-KSM coin holders can benefit from it.

What is Dora Factory Kusama parallel chain?

Dora Factory Kusama was a parallel chain launched on the Kusama Network in 2019. It was designed to provide an environment for experimentation of blockchain-based applications and projects that require high-speed and low-cost transactions. Dora Factory, the main DeFi protocol on this parallel chain, offered a platform that allowed developers to create customized decentralized applications (DApps) on a robust and decentralized infrastructure.

Dora-KSM Migration to Ethereum Main Network

The expiry of the Dora Factory Kusama parallel chain lease means that all DORA-KSM on-chain tokens will be migrated to the Ethereum main network. The migration process will involve a 1:1 conversion rate where each DORA-KSM token will be exchanged for one token on the Ethereum main network. This means that DORA-KSM holders will be able to access liquidity on the Ethereum network and participate in a wider range of DORA community activities and token usage scenarios.

Benefits of DORA-KSM Migration

The migration of DORA-KSM tokens to the Ethereum main network presents several benefits to holders of the tokens. One of the significant benefits is that it allows DORA-KSM coin holders to access liquidity on the Ethereum network, where there is a large number of trading platforms and decentralized exchanges. Additionally, Ethereum is one of the most widely adopted blockchain networks globally and has a vibrant and active community, which provides opportunities for more use cases of Dora Factory solutions.
Another advantage of the DORA-KSM migration is that it allows the Dora Factory ecosystem to expand beyond the Kusama Network’s limitations. While the Kusama network is a useful platform for experimentation, it is relatively uncertain and still evolving as a proof-of-concept network. On the other hand, the Ethereum network offers more extensive resources and is well established, providing a stable and secure environment.

Ethereum Address Registration

To enable the migration and ensure that DORA-KSM holders can access their tokens on the Ethereum main network, coin holders on the Dora Factory Kusama parallel chain should complete Ethereum address registration within 14 days. DORA-KSM holders can register an Ethereum address through several wallets, including Metamask, Ledger, and Trust Wallet. Registration requires the transfer of DORA-KSM to the Ethereum address to complete the migration process.

Conclusion

The Dora Factory Kusama parallel chain lease expiry presents an opportunity for DORA-KSM holders to expand their options by migrating to the Ethereum main network. The migration will provide more liquidity, expanded token usage scenarios, and access to Ethereum’s wider DAPP ecosystem and community. Additionally, DORA-KSM holders should complete Ethereum address registration within 14 days to ensure that they can access their migrated tokens.

FAQs

1. What will happen to DORA-KSM holders who fail to register an Ethereum address within 14 days?
– DORA-KSM holders who fail to register an Ethereum address within 14 days may lose access to their tokens and will not be able to participate in the Ethereum ecosystem.
2. Can I register more than one Ethereum address for the migration process?
– Yes, DORA-KSM holders can register more than one Ethereum address for the migration process. However, they should note that the migration is a one-to-one conversion rate, and all DORA-KSM tokens must be transferred to complete the migration.
3. Is there a deadline for completing the DORA-KSM migration to Ethereum?
– Yes, DORA-KSM holders have 14 days from the date of the lease expiry on April 17, 2023, to complete the Ethereum address registration and migration process.