Welcome!
Compound recently added a new market for WBTC. This new market utilizes a new cToken, which means holders of the old cToken should migrate their collateral. If you're one of those holders, this website will help you through the migration process.
Please note: We can't atomically migrate your borrows without additional changes to Compound. You'll have to do that part yourself.
A note on security:
The contract powering this website is UNAUDITED. Use at your own risk, and DO NOT send tokens to it. You can read the code here and find the contract on Etherscan here.
Let's get started!
Just 4 easy steps:
Connect to MetaMask.
Enter the cWBTCv2 market.
Approve the contract.
Migrate!
1. Connect to MetaMask
When you click the button below, MetaMask will pop up and ask you which account to use. Pick one for the migration, then click Next, followed by Connect. This just lets us see your wallet address and talk to a Web3 provider.
Disclaimer: Use this website at your own risk. You're your own bank and you're responsible for any loss of funds. DeFi is the wild west.
2. Enter the cWBTCv2 market
Tip: If you've already entered the market, there's no need to do so again.
You'll receive cWBTCv2 tokens in a later step. In order for them to count as collateral, you need to have entered the v2 market.
3. Approve the contract
You can revoke this approval at any time.
This allows the migrator to pull in your v1 tokens and replace them with v2 tokens.
4. Migrate!
You have two options now. A gas-optimized migration requires ~900000 gas and uses AAVE flash loans. This means you'd lose 0.09% of your collateral (AAVE fee) during the migration. A fee-minimized migration uses KeeperDAO flash loans instead, so you keep all of your collateral but pay ~1500000 gas.