In a first liquidity migration of its kind, about $4 million worth of CRV-ETH liquidity has been moved from Uniswap to Sushiswap.
The migration occurred at 5:04 PM London time, moving 5,594 eth and more than 956,000 CRV tokens, all for a fee of $200.
One down, many more now to go with the other pools to be migrated one by one. A sushi spokesperson says:
“We have no order of pools to migrate, we will migrate everything (one after another, quickly) once we confirm exchange interface works with new pool as it should.”
After a hectic week and the craziest ride of any defi dapp so far, now we’re live witnessing a code based transfer of some $800 million worth of crypto assets from one dapp to another.
All that without the permission of the dapp that is currently holding the underlying assets as they were turned into LP tokens with the code now converting those tokens to send the actual liquidity to Sushiswap.
“Our epic day is soon at its zenith,” a sushi spokesperson said, with the mood in their discord looking festive, albeit slightly nervous, as sushi’s price yoyos a bit, and with it, eth too.