Stakecito will soon be shutting down its validator for the Mars Hub. This decision comes in response to Mars Protocol's transition from an app chain to the Neutron network.
With this transition, governance and staking activities will be migrating to the Mars Hub DAODAO instance on Neutron. As a result, we encourage all our delegators to begin the process of unstaking their $MARS tokens from Stakecito and follow the necessary steps to transfer and restake them on DAODAO. Below is a detailed guide on how to complete this process:
Step 1: Unstake MARS on Mars Hub
Connect your Wallet: Access your tokens through your preferred wallet interface, such as Keplr, Leap Wallet, or Cosmostation Wallet.
Unstake MARS: Navigate to the staking section, select the amount of $MARS you want to unstake, and confirm the transaction.
Note: The unstaking process takes 14 days to complete.
Step 2: Transfer MARS via IBC to Neutron
Initiate IBC Transfer: Once your $MARS is unstaked and available in your wallet, navigate to the IBC transfer section.
Select Neutron: Choose Neutron as the destination chain, enter the amount of $MARS to transfer, and confirm the transaction.
Wait for Confirmation: The IBC transfer may take some time. Ensure the transfer is confirmed before proceeding.
Step 3: Swap Tokens with the Transmuter Pool
Access Astroport: Go to the Astroport interface where the transmuter pool is available.
Swap IBC.MARS to (TokenFactory) MARS: Enter the amount of IBC.MARS you want to swap. Ensure you get a 1:1 rate, then confirm the transaction.
Receive (TokenFactory) MARS: After the swap is completed, you will receive the new (TokenFactory) MARS tokens in your Neutron wallet.
Step 4: Stake MARS in DAODAO on Neutron
Log into DAODAO: Access the Mars Hub DAODAO platform on Neutron and connect your wallet.
Stake MARS: Navigate to the staking section within Mars Hub DAODAO, select the amount of $MARS to stake, and confirm the transaction. Ensure you have NTRN in your wallet to cover gas fees.
Participate in Governance: Once staked, you can participate in governance proposals on the Mars Hub DAODAO instance.
Important Notes
Governance Migration: All new governance proposals will be on the Mars Hub DAODAO instance on Neutron. The Mars Hub app-chain will remain active for six months to support the token holder migration.
Token Migration: Any remaining liquidity in the Astroport transmuter pool after the six-month period will be withdrawn by governance and burned to reduce the total supply of MARS.
We appreciate the trust you’ve placed in Stakecito and remain committed to providing secure and reliable services across the networks we support, including Neutron.
——————————————————
About Stakecito Labs
At Stakecito Labs, we've honed our craft as validators. Our reputation as the third-largest validator by delegation count within the Cosmos ecosystem speaks to our unwavering dedication and the trust placed in us by over 270,000 delegators worldwide.
Our validation services are not just about maintaining Cosmos blockchain networks though; we validate networks outside of Cosmos as well (NEAR, Aleph Zero, etc.).
Our core mission is centered on demystifying blockchain technology to ensure it's accessible for everyone, from newcomers to seasoned investors. To begin staking, visit our homepage.
Stake with Stakecito | Follow us on Twitter | Subscribe to Our YouTube | Governance
——————————————————
