The last few weeks have proven to be very busy on the cause/effect — problem/solution front. As mentioned in a previous announcement, we are initially utilizing LayerZero as a cross-chain solution. As one can imagine, this is no small task at all and quite technical. There are a lot of contracts in the Lif3 Ecosystem that were affected by the Multi-chain issue. Fortunately, with proper planning and technical expertise, the team has devised a solution going forward that will strengthen the protocol even more in the coming days. The LayerZero cross-chain solution is one of the core pieces of this solution.
Certain areas of the Lif3 Ecosystem are in a state of flux while these solutions are being implemented. The Gardens on BNB and Polygon are paused at the moment, and Lif3 Trade Fantom is in withdraw-only mode. As soon as we have solutions in place for the path forward, announcements will be made.
The most important thing for everyone to know is that for all tokens (LIF3, LShare) on Polygon and BSC that were bridged on multichain — there will be a 1 to 1 swap for the new cross-chain LIF3, LShare tokens from LayerZero — more on this below.
LayerZero Cross-Chain Updates:
We are in the process of finalizing our LayerZero cross-chain solution. $LIF3 and $LSHARE on Polygon and BNB Chain are the primary focus, as some areas of the protocol have been paused due to multi-chain rewards not having an available bridge to access the contracts. We would like to get this live as soon as possible. An announcement will be made once it is available.
The contracts on the Ethereum blockchain related to the LayerZero Cross Chain solution we are implementing are the following ones:
LIF3 (ETH): 0x7138Eb0d563f3F6722500936A11DcAe99D738A2c
https://etherscan.io/token/0x7138Eb0d563f3F6722500936A11DcAe99D738A2c
LSHARE (ETH): 0x8E01397163b21F64ceC1f06cA6cC7d9aA8F718e9
https://etherscan.io/token/0x8E01397163b21F64ceC1f06cA6cC7d9aA8F718e9
L3USD (ETH): 0x2C2D8a078B33bf7782a16AcCE2C5BA6653a90D5f
https://etherscan.io/token/0x2c2d8a078b33bf7782a16acce2c5ba6653a90d5f
ZOO (ETH): 0x0c08638473CAfbCa3beb113616A1871F4bfaD4f9
https://etherscan.io/token/0x0c08638473CAfbCa3beb113616A1871F4bfaD4f9
Future Token Swaps:
Once the LayerZero cross-chain solution is live, users will still have Legacy Tokens on Polygon and BNB Chain. All tokens (LIF3, LShare) on Polygon and BSC that were bridged on multichain — there will be a 1 to 1 swap for the new cross-chain LayerZero LIF3, LShare tokens from LayerZero. We will make a Token Swapper available for everyone to swap from Legacy (XXX_Multi) to the new (XXX_L0) tokens.
The Future of $L3USD:
As most are aware, our $L3USD VCS was backed in curve pools with stablecoins from Multi-Chain. In order to allow trading on L3USD, we have opened up a Curve pool on Polygon. We have created and provided initial liquidity for a new pool on Polygon comprised of $L3USD, $DAI, $USDT, and $USDC. $L3USD holders on Fantom are not affected by the change. We are working with Layer Zero to create the cross-chain L3USD solution and will announce it once it is available. Once the LayerZero USDC, USDT, DAI curve pools are operational on Curve on Fantom, we will seed the L3USD pool on Fantom.
New L3USDAAVE Pool:
https://polygon.curve.fi/factory/456
Lif3 Chain Coming Soon:
Lif3 Chain is almost here. A massive amount of focus and effort had to be shifted to other areas of the Ecosystem in light of the recent LayerZero cross-chain solutions. Rest assured that the finalization of Lif3 Chain and all the needed components are still on track for a release to Mainnet very soon. We are working to deploy the LayerZero cross-chain with LIF3 Chain to connect Ethereum, BSC, Polygon, Fantom, Arbitrum, and Optimism to start.
Lif3 Chain Website:
http://www.lif3chain.com/
Lif3 Support:
Lif3 Support is online and ready for users to explore. Lif3 Support is filled with easy-to-follow guides, articles, and videos that cover the Lif3 Ecosystem. Additional articles will be added as the Lif3 ecosystem grows and expands.
Check it out here:
http://support.lif3.com
This week’s Featured Article explains how to store your seed phrase securely. This article comes complete with a template that can be printed out and used for your seed phrase.
How to securely store your seed phrase:
https://support.lif3.com/hc/en-us/articles/6087711921039-How-to-securely-store-your-seed-phrase-
Felix Sunset:
Felix will be sunset, and the doors will be closing this Summer. Below are all the key dates and timeframes for all users to be aware of. As of July 3rd, 2023, all trading has been disabled on Felix.com. We are now in Phase 2, and all users will have until July 30th to make any withdrawals. These are the last few days to make withdrawals. Please make sure to do so before the 31st of July.
- Previous: June 1st–June 30th: Access to the site was normal, but positions were winding down.
- Current: July 3rd–July 30th: All trading is disabled. Users have access to withdraw only.
- Future: July 31st and beyond: Felix will officially be closed to the public.
Λ Lif3 in Crypto:
Please enjoy this week’s comic.
ENJOY LIF3!
