MILK V2 (Token Migration)

Proposal:Migrating to MILK V2

As MILK Price rise in ADA Value it becomes more relevant to make $MILK Devisable
It is becoming more and more expensive to buy MILK and with continued price appreciation it can become a problem for people that might want to hold to 0.5 $MILK instead of a full one
We opened a live discussion on this and How we should approach this matter
During The Last MuesliSwap Monthly Twitter Space for the month of June.

Here are two Possible ways we can Add decimal places to the MILK Token.

Option Number #1 is Token Wrapping
In this method we can do what’s called “Token Wrapping”
Where we can “Wrap” the MILK Token in to a token with 6 decimal places
while you will be able to redeem the “Legacy” Version of MILK at any point (Non devisable)

Basically it’s a contract where you can lock your (legacy)MILK in order to mint a new MILK with 6 decimal places.

1)Let’s people who want to keep the old MILK in liquidity pools
so people can decide if rather to trade with the old MILK or with the Wrapped one
which might be better for trading on the DEX.

2)Smart Contract for wrapping is done (Based on Team information)
so if the community decides to go with this option it can be rolled out quickly

1)Wrapping a token involves more risk due to smart contract vulnerabilities
although you can reduce the risk by auditing the smart contract.

2)Wrapping $MILK Will be presented as two 2 separate Tokens
which can cause confusion for new users trying to figure out what $MILK should they hold.

The other way is a Token Migration
where you basically burn the existing MILK and instead you get a new MILK token with 6 Decimal places.

1)The procedure is straight forward Burning MILK and getting a new version
2)Easier to explain to new users
3)only needs to be done one time
4)Less risk

This is something that needs to happen one way or another in order for MILK having Multi-Hop applied to!

Let’s discuss this and bring it up to vote Asap!

Proposal Update:

Question 1: What’s should be the voters threshold that need to be reached to pass this proposal:

Question 2: What method of transitioning to V2?
1)Token Wrapping
2)Token Migration


Token Migration seems like the best option. Firstly for security above all else then simplicity second


In my opinion token migration is a much better solution!
Wrapping the token is a complex and inconvenient solution for most participants
It needs to be voted on as soon as possible :heart::milk_glass:


before taking any actions I would research what other projects did, whats went wrong what was good, taking some cases and try to make the best of it with the community.

also i would make it an absolute vote which mean this can happen only if % of voters threshold is reached (majority/51%/64%)

Token migration is best but can it be airdrop into individuals wallet without users sending in there token?

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I love the Toekn Migration idea.
I think it is the safest way, we should do it as soon as possible.


I’ll Add it to the proposal!


Great ideas. Let’s move this election forward!


Token migration would be my preferred option but i also think the bar to pass such a major change should be set high 75%. I am sure it would pass even at this high level.

Security is my number 1 priority, so for me Token Migration is the clear way forward.

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Q1: For the initial vote, we could kick things off at 75%. If it gets approved, that’s a clear signal that the community is pretty united on the matter and maybe further debate isn’t necessary. However, if it doesn’t pass, that’s when we dig deeper into the discussions with the community and set up a follow-up vote, this time with a requirement of just 51% approval. Just to clarify, we’re talking about the results of the vote, not just participation numbers.

Q2: Token migration, but we definitely need to delve into how the MuesliSwap team is going to handle this, especially considering the existence of two current CEXes that are already offering Milk. It’s a crucial discussion to ensure everything transitions smoothly.

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Migration. No brainer.
Wrapping will be an endless massive headache and prompt “connect your wallet here for wrapped MILK conversion” etc.
Send MILK to address, get MILK back.
CEXs follow the program or have an outdated token. :man_shrugging:


Question 1: 2. 65% sounds like real mayority.
Question 2: Token Migration.

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Q1: 65% threshold
Q2: Token Migration

@CryptoBamba does this platform have a polling option to curate these answers rather than through commenting? Bit user unfriendly in its current form. Also have MS explained anywhere how we move things from the proposal stage like this to an onchain governance vote?


Question-1: Option-1 → 75%.
Question-2: Token Migration.

I really do not see any need to do a token migration now. The tokenomics of Muesli has been responding well so far as the devs planned. There are no reason to rush into it this early. We should let the devs focus on building and improving Muesli.


I am for migration. I think there needs to be a strategic plan as there are people not just with tokens, but some in vaults who don’t want to lose their progress in the time-locking. Also people in LP pools both on Muesli but also in other Dex pools like VyFi need to have an easy path so we do not get blasted out of our position in the various pools. Others have it staked…Milk Vouchers will need to be redeemable for the new token I assume. Good proposal and discussion.

I think the token migration is the best.

65% should suffice. It’s somewhat 2/3 of the majority.

When can we cast the votes? :slight_smile:

Token wrapping can be used to do something much cooler. Let’s leave that utility to those things. Migration can be done with similar system as OPT claiming for example, send in, receive out. Should be kept open really long and promoted for users. Also migration statistics somewhere visible.

Token migration option.


Token migration is the way
Bring the vote asap

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