The Polkadex Mainnet is live!

A key milestone for Polkadex and the start of a new era for DeFi and Web3

So, what exactly does Mainnet mean?

As the trading engine for Web3 and DeFi, Polkadex is an expansive project made up of a complex combination of innovative solutions all built on top of the Polkadex blockchain. When we say ‘Mainnet’ we are referring to the main network, or the Polkadex blockchain. This is the foundation upon which the rest of Polkadex’s components are built, and onto which the different components will be gradually released.

Where can you access the Mainnet?

The Polkadex blockchain is now accessible here. Create a Polkadex account if you don’t have one already by visiting the ‘Accounts’ menu.

PDEX Migration

In order to participate in the mainnet and start staking, nominating or validating, you will need some PDEX. If you don’t currently have PDEX, you can get some on centralized exchanges like KuCoin or Gate.io, and decentralized exchanges like Uniswap. If you have some PDEX already, read on!

How does the migration work?

In order to migrate your ERC-20 PDEX to the Polkadex network and turn it into native PDEX, you will need three things:

Quick migration guide

1. Open https://polkadex.trade/migrate

Migrated! What’s next?

Once the migration is done, you’ll see it reflected in the balances of your Polkadex and Ethereum wallets. You can even visit the Polkadex app on Polkadot.js/apps to check your account’s PDEX balance. While you will be able to stake your PDEX immediately after migration, there is a 28 day lock on transfers in order to minimize the security threat of a potential attack on the migration process. After 28 days or 201,600 blocks from the migration, you will be able to make an unlock transaction call (instructions on this coming closer to the time) which will enable PDEX transfers to and from your account. The 28 day transfer lock also affects the ‘Set on-chain identity’ function in the Accounts panel and this too will become available 28 days after your PDEX is migrated.

Heads up future validators (and nominators too)!

While you can use the same account as the stash and controller, it is recommended these two be separate accounts. The 28 day lock on transfers means that before setting up your validator you will need to either set up the stash and controller in the same account, or wait 28 days to make a transfer between your stash and controller accounts, or migrate twice from Ethereum to your stash and controller accounts respectively.

Remember

Once your ERC-20 PDEX burn transaction has gotten over 15 block confirmations on the Ethereum blockchain, it will be sent over to the Polkadex relayer, which will then credit your Polkadex account with the PDEX. The migration process might be slow as part of it relies on the Ethereum blockchain which is known for low speeds and high gas fees.

Polkadexers unite!

Whether you just came across Polkadex or whether you’ve been following the developments since day one; whether you’re already migrating your PDEX or whether you’re waiting for the right time, whether you’re planning to validate, or nominate, or just want to want to be a Polkadex pioneer, the Polkadex Mainnet is waiting for you.

⛓Cutting edge orderbook based DEX built on Substrate 📲 www.polkadex.trade