NOTE: This article is only applicable to existing investors that have received revenue distributions prior to November 1st, 2023 AND have a connected wallet in the Portfolio. If you started receiving distributions after this date, or if you never connected a wallet, there is no action required!
Should I Swap?
You don't have to swap, but we highly recommend that you do for a few reasons:
- There is no deadline set as of now for decommissioning the USDC.e contract, but the goal is to eventually transition the liquidity pool from USDC.e to native USDC. Meaning, why wait?
- It will make your distributions consistent. Starting with November's distribution, funds will be in native USDC, not USDC.e as they have been up until October's distribution.
- We are paying the gas fees for your swap! That's right! Each investor with existing distributions in their wallet will get a small amount of MATIC deposited by GigaStar to their wallet to cover the gas fees for the conversion.
How do I Swap?
The easiest way to swap is using Uniswap. This decentralized platform allows users to convert USDC.e to native USDC with a minimal fee. Your wallet provider may also provide swap functionality but typically the fees are a bit higher so we recommend using Uniswap instead.
Here is how to do it:
- Before starting, open your wallet and make sure you have 0.1 MATIC (this should be around $0.08).
- If you don't please submit a ticket on the top right of this page.
- Open up Uniswap and click on "Connect" on the top right of the screen:
- If your wallet is not on the list, use "WalletConnect" which will give a lot of other wallet options. This is the same as connecting a wallet in the Portfolio
- Once the wallet is connected, close the Uniswap tab.
- Click on THIS link.
- This is a customized URL to uniswap.org that includes the contract addresses you are swapping from (USDC.e) and to (USDC), and the correct network to avoid any errors.
- When Uniswap opens back up, it should show your wallet as connected with Polygon as the network, and the correct tokens to swap.
- Enter the amount to swap in the "You pay" field.
- We HIGHLY RECOMMEND you do a test swap first for $0.01 and verifying everything in your wallet, prior to swapping the whole balance.
- Click on the "Swap" button after confirming everything.
- Review and click on "Confirm swap".
- You will get a pop-up in your wallet with a spending cap request. This is to confirm you are allowing Uniswap to take the funds from your wallet. Click on "Max" in that screen to limit it to the maximum amount of USDC.e you have, then click on "Next", and then "Approve".
- You will then be prompted to sign the transaction in the wallet. Click "Sign".
- Finally, confirm the transaction in the wallet to complete it.
- Once the swap is complete, open up your wallet and verify that you see the correct balances for USDC.e and USDC.
- Go back to your Uniswap tab, and swap the remainder of your USDC.e balance, if any.
- When finished, click on your wallet address on the top right of the Uniswap tab to show the "Disconnect" button, which will be the circle with the small vertical line all the the way to the top right.
- Click on it, and then select "Disconnect".
- Close the Uniswap tab.
- Verify the balances look correct in your wallet, i.e. zero for USDC.e, and whatever you swapped in USDC.
- You can now remove the USDC.e token from your wallet if you want.