The Great Bao Migration + Baoswap & Co

I suggest anyone not to follow my steps until March the 2nd. I’ll keep you all updated.

you should also be able to see your LP Tokens at Baoswap Interface with the WETH pair I think.
but most pools will start by tomorrow, it seems that at the moment only the BAO/XDAI pool has some transactions

I also have SLP, have you managed to stake your LP tokens yet?

That will only be available from March the 2nd onwards.

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I’m in Australia so the time difference is probably what I’m not factoring in

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Hey guys, I feel pretty much a noob right now toying with xDAI. I’ve configured xDAI on Metamask successfully but I am unable to see any pools

  1. Baoswap Interface nothing here, no pools showns and clicking import pools only keeps loading, fwiw I am using Microsoft Edge browser.

What are you trying to do exactly?

Hi.
xDai pools are found at https://xdai.bao.finance

Have you tried it?

This section from the docs provides a great little walk through of how to accomplish the migration.
https://docs.bao.finance/guides/staking-on-xdai

The section “Bridge Assets to xDAI” says this but from your description perhaps this is where you are stuck. You will need to add custom tokens if you do not see them listed in MetaMask. Here is a link to the contract addresses for you to reference.
https://docs.bao.finance/contracts-and-key-info

Hi,

Sorry to revive this tread but I just found out about the XDAI migration and the consequences of not migrating BAO earned from staking. I only checked the farm page from time to time (Bao Finance) and there was no announcement there so that’s why I’m so late to the party… Am I right to assume that only BAO earned through uniswap staking pool after March 1st are impacted by the 75% penalty ? As gas fees are so prohibitive and the rewards were only going to be available at the end of the year, I have not harvested any of it yet. I have to say that “losing” 75% of earnings from the last three weeks is already a big blow but if this applies to all earnings since the start I would be really devastated and couldn’t understand the rationale behind such a decision. I’m happy to migrate to XDAI now that I know the situation though. Can someone please enlighten me ?

Thanks

The short answer is that “Pending BAO” is just that, pending. Until you harvest it you do not own it and that carries risk. When the the Bao Farmer contract base rewards changed from 1000 BAO per block to 250 all “Pending BAO” are likewise changed. It is not that a direct penalty was added.

Bit,

Thanks for your quick answer but am I the only one feeling this decision is unfair ? I understand the need to migrate to XDAI blockchain but slashing 75% of previously earned rewards seems a bit harsh, to say the least.

You are saying “pending” means “you might get this if you are fast enough but then again we might change the rules” but when I hear “pending” I understand "this rewards are yours and you will receive them when you chose to do so (and/or when transaction fees on ethereum are back to reasonable). I am sorry but I feel being played, common sense dictates that you don’t change the rules after the start of the game, I can understand that I was late for the harvest and the migration and therefore I would totally accept loosing 75% of the rewards since March 1st (even if it is very painfull) but what I earned before should be guaranteed, at least I feel this is only reasonable. Again, what is the rationale behind this ?

Also, I understand I don’t own the pending BAO and that there is a risk but no incident happened with the project, it is only a decision by the team to apply a rule that I just don’t get. You don’t think I should call this a penalty but how else would you describe your rewards being divided by 4 only because you missed an announcement made 2 weeks before the event ? I know it’s not easy to communicate with all parties involved as most of us cherish their anonymity and sending emails are therefore not really an option. But isn’ there a smoother way to do things ?

I invested time into researching what BAO wanted to achieve, and money into providing liquidity to help bring the vision further but such a decision really scares me for the future of the project and how the community, especially the first investors believing in the vision of the project and taking great financial risks, are being treated.

Regards,
Damos

@Damos

Your frustration is understandable but as this project is still under development and in alpha it is expected for you personally to keep up with the changes. This is explicitly stated in the docs, where we ask you to participate in the Bao community / ecosystem.

The lowering of the rewards on the main net had the unfortunate side effect of also lowering the pending Bao balance. But there are people who reported that the lowering wasn’t as bad as expected and some even mentioned that they didn’t even notice the pending rewards changed.

Furthermore Discord is very active and there have been warnings given in an announcement since the 26th of January which is a week after the migration was voted on. Afterwards there were countless of warnings on the possible side effects, including the announcement you refer to two weeks before the migration. And the deadline was even postponed for a few days due to the migration running into minor problems.

If being idle on Discord is not for you then at least follow the other sources for Bao which is BaoMan his twitter or this forum. All important information will end up here on the forum and dropping by once every two weeks should be enough to keep up with the project.

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Hey Damos, I just wanted to add along with fabiaZ84’s comment that the slashed harvest not intended as some sort of punishment or extra incentive to move to xDai. The team have tried to warn and alert everyone in the community possible for over a month before this occurred. Please understand that the pending Bao getting cut was an unfortunate side effect from the built in mechanics of the contract forked from Sushiswap. There was no way of avoiding it, and that’s why the community and team did their best to spread the information and warn everyone prior to it happening. If there was a route available to change the rates without affecting pending Bao then it would have been taken.

Please try to follow with the project’s community, as it is still in alpha and subject to many fast paced updates as it matures.

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Hi Fabia,

Thanks for your reply. I’m happy to keep up with the changes but why not putting a simple announcement on the farm page ? It is the place where I (and I suspect others) went every other week to see if my earned stack was growing normally without suspecting is was all fake. Not everyone has time to keep up with the discord, without getting too much into personal situations, I have a full time job and 3 kids at home, having to be homeschooled due to C19, so hardly anytime to follow the announcements there.

Damos

@Madotsuki

Thanks for your reply. Even if the slashed harvest was not intended as a punishment, would you at least recognize it feels like one ? I guess being here means you are also involved in the staking/farming process, so how would you feel if three quarters of your rewards were gone ? Also, please don’t hide behind the sushiswap contract fork, it is a decision made by the project, plain and simple. There is always a way. At the end of the day, it is software running on computers, someone made a decision and I still can’t uderstand how that decision is fair for past rewards. I understand the decision and totally accept it’s consequences for future rewards but what happened before the migration should have been untouched no matter what. I find it very strange how no one here sees this that way and simply agrees to this unfair treatment of members of the community.

Damos

Hi Damos,

If this was a fully released product, then yes I would agree with you. Having 3/4 slashed would feel like a punishment.

But as we are still in a development phase with a lot of moving pieces and the following items stated on the docs.bao.finance page:

  • Warning: Bao Finance is in alpha, it is unaudited and was originally developed by a one-person self-taught team. While we are in the process of scaling the team, please understand the risks and use this product accordingly.
  • Don’t use Bao: If you do not actively keep up with projects when you hold their token.

There is also a responsibility on your end to keep up with the project.

I know it is harsh, so treat this as a personal lesson. You still have your LP tokens and you still have a pending or already harvested balance of Bao.

From now on, if you decide to stick around, try to keep up with what Bao is trying to achieve. This means checking in with us on a regular basis, which can be done here or on the Discord channel.

Additionally, in case you weren’t aware, the pools on ETH were supposed to end somewhere in June but this is being reconsidered/has been reverted. If anything changes it will be announced here and on other official Bao sources.

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Fabia,

Thanks for your reply. In my view none of your arguments (BAO is in Alpha, you should keep up with the info, it’s Sushiswap’s contract fault, etc.) justify what was decided for past rewards (before March 1st) but I’m not going to repeat my arguments all over again, as I don’t see anyone agreeing with me so I won’t waste anymore of your (or my) time and keep it here. Also, the fact that no one else shares my view and my problem kind of proves your point that the community was actually informed properly…

Personally, I’m done with the project. Good luck for the future.

Have a nice day,
Damos

Damos,
There actually was an announcement placed on the front of the farm page to warn even those who have not visited the Discord or Twitter for this project. I do want to at least clarify that point as well to show that everyone in the community truly did attempt to communicate this, exhausting every possible avenue to get the message across to as many people.

I just read further down your messages and saw that you decided to leave. I definitely empathize with you, and wish you the best of luck.

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Madotsuki,

Thanks for your reply. There might have been a message on the farm page but not on the pages showing the earned token (Bao Finance for example), just to clarify. Browsers autocomplete the address bar and bookmarks will get you directly to the page where your earnings are hence why I never saw the announcement.

Anyway, thanks for your empathy even if it won’t get me too far…

Damos