Chef Nomi has set in action a number of operations that are for the first time in history to mass migrate tokens from one dapp to a very new one.
The trigger transaction made 12 hours ago at the time of writing sets in motion a number of irreversible actions that order the tokens and cryptos to, through code, be subject to new code, which in this case is a copy clone of Uniswap.
This on the surface most simple display hides immense complexity for it sets a 48 hour period when nothing can be done (except withdraw) and more importantly, it says after that 48 hour period, this (code featured image) will be the migration contract:
You might see there a number of transactions already have occurred. That’s because the sushi/eth pool in SushiSwap is live, so outside this whole farming/migration thing, people are already playing there, waiting for the immigrants to populate the new land.
The interface is out. Kids are making mobile apps for it, with it appearing the code has taken charge over these $1 billion tokens in a way that suggests the chef can not steal the LPs within the usual disclaimers of potential bugs that even auditors couldn’t find.
The most tense countdown in the history of this space thus has began, as we look at the creation of a new Coinbase or Binance run by the code for our revenue and profit, and pray to bugs bunny that cosmic rays don’t interfere with the migration.
For while for much of today we were wondering whether chef can just take these tokens, it now appears the code has spoken, and chef at this point is generally as much an observer of what hopefully will be the birth of a very new world.
Also See: Chef Leaves Sushi, Sam Enters