DARCwallet Upgrades to Support Ethereum / ERC-20 #ETH 💡
Cheers to the Konstellation Community! As mentioned towards the end of 2020, we have some #DARCwallet updates to share — specific to ETH / ERC20 integrations that will be available to users by the end of February 2021. We had some issues with gas functions that are being tested and fixed currently. See below for more details on the integration and what the team is currently working on for the next set of DARCwallet upgrades! We will announce on social channels, when the upgrade is live to users✅
As we noted at the end of 2020, the team updated the latest version(4.3.0–4.4.0) to include ETH/ERC20 integration into DARCwallet, to make it easier for users to interact with ETH via DARCwallet and to prepare DARCwallet users for the introduction of the DARC-ERC20 token. The upgrade includes two-way swap of DARC-ERC20 to DARC-24B, which will be available to users when version 4.4.0 is released at the end of February. Review details on the previous upgrade here.
Key Updates Included in DARCwallet Upgrade (4.4.0)
- ETH/ERC-20 Integration
- Two-Way Swap: DARC-ERC20 <=> DARC-24B
- XEM Functionality/Support Removal
- Partial unstaking functionality (vs. staking total DARC amounts)
- DARCwallet FAQ Updates (review in wallet via tool bar on left)
Key Questions: DARCwallet + ETH/ERC-20 Updates
Why is the Konstellation creating an ERC-20 version of DARC?
- As we are continuously focused on creating disruptive technologies for financial services through blockchain, we’ve also come to appreciate that we will need to make bridges with the ethereum based #DeFi ecosystem as well. Even though we believe in the ultimate interoperability that the Cosmos Network ecosystem is continuing to build out through #IBC and Stargate, we also believe that have an ERC20 version of #DARC will be a critical catalyst in accelerating DeFI industry development
Why Integrate ETH / ERC-20 into DARCwallet?
- As the vision for DARCwallet is to be the hub for the entire Konstellation Network and DARC related DeFi activities, we believe that the having the Ethereum capabilities will be beneficial in growing the Konstellation Network
- Additionally, as much of the DeFi ecosystem currently operates directly on Ethereum we believe building the primary interface while also working on the bridges through IBC are critical in the development path.
Do we HAVE to swap our tokens from DARC-24B to DARC-ERC20?
- You are not required to swap your tokens to the ERC20 version and the DARCvault rewards will remain in place as planned until the launch of the Konstellation Network mainnet.
What are next steps for DARCwallet and the DARC-ERC20 token?
- DARCwallet will continue its development as the primary interface for the Konstellation & The DARC Token ecosystem and the various DeFi projects that are being worked on in tandem with VegaX Holdings.
- DARC (ERC20) is not only a potential liquidity path for the token but also a primary technology tool that will help us develop more DeFi capabilities which include innovation of #stablecoins and new ways to develop and trade synthetic assets.
Comments and questions? Send the team an email here: email@example.com
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