Coin-type Migration from 750 to 118
Currently both 118 & 750 coin-type addresses are supported by the Persistence Core-1 chain and will work as normal.
However the support for 750 coin-type wallets is proposed to deprecate in December 2024.
When Persistence Core-1 chain launched, in March 2021, the interchain ecosystem was still in a very nascent stage. There were not enough data points to determine whether it would be ideal to choose the same coin-type as Cosmos i.e. 118. Hence, following the sovereign application-specific chain model, we adopted 750 coin-type.
After the introduction of IBC, the Cosmos ecosystem exploded, and we saw thousands of transactions executing across multiple IBC channels. IBC presented a whole new dimension of technological possibilities, but one aspect was vastly missed – user experience.
Therefore migration was planned during Persistence Core-1 chain upgrade v3. You can deep dive in the full migration context from blog attached below:
The goal of coin-type migration is to facilitate the best user experience for the Persistence ecosystem community members. As the project matures, we strive to deliver user-centric products, and it requires constantly evolving.
We will be able to achieve our goals only with the constant feedback, support, and efforts of our community, validators, and partner projects. Every step towards a better user experience pushes us closer to becoming the liquid staking hub for the PoS ecosystem.
- Immediate solution: Unbond your XPRT and migrate to the newly created coin-type 118 wallet address. (21 days unbonding period)
- Suggested Migration: After the launch of the Liquid Staking Module by Iqlusion (Timeline not yet confirmed), the stake can be directly transferred to the new coin-type 118 wallet address without unbonding.
- 1.No one from the persistence team will contact you to help you migrate your tokens.
- 2.Never share your seed with anyone.
- 3.Always make sure that you are using the correct and SSL enabled URL.