Zombie Horde,
We’re very happy to announce that we are starting a partnership with https://apeswap.finance First step of this partnership will start by moving our liquidity pairs (LP) from Pancakeswap to ApeSwap Finance DEX.
A liquidity pair (LP) is used on a AMM DEX to exchange/trade between users.
At RugZombie, we use only one LP pair: BNB-ZMBE, and it is currently routed through Pancakeswap (PCS).
Moving liquidity pairs (LP) from Pancakeswap to ApeSwap means that our users will progressively stop using Pancakeswap pairs contract and start using ApeSwap pair contracts to trade $ZMBE token. Read below to understand how we plan to make this move.
If you do not currently have LP pair of BNB-ZMBE, you do not need to do anything regarding this migration.
What is the MIGRATION PLAN?
Please follow these exact steps to ensure a smooth process. Deviating from the plan will result in breaking the cardinal Zombie Rule: being cool.
Disclaimer : RugZombie famously removed its migrator code in our contracts to move liquidity for you. This means that our team can’t touch/get/move your funds. (read more about this decision here.). This also means that it’s up to our users to manually make their LP move from Pancakeswap to ApeSwap.
RugZombie Team Steps (What WE Do in the Process)
1 ) We will create 1 new pair on ApeSwap DEX to exchange ZMBE : ZMBE-BNB. RugZombie will also provide some liquidity in the new pair to start the process.
2 ) We will officially release via telegram and twitter the time this pair is open. Once this pair is open on ApeSwap, users will be able to officially to trade and create new LP tokens through ApeSwap on their website, and migrate their existing LP over.
3 ) Once the LP pair is created on ApeSwap, you will be able to use both PCS and ApeSwap to create LP and trade ZMBE.
4 ) Once we have created the APE LP, we will issue a new TOMB on ApeSwap, and will be offering a higher yield to incentivize liquidity providers to migrate over there. We will progressively lower the yield of PCS tomb to adjust for this move.
Initially, we will have the PCS TOMB yield reduced by half, and the ApeSwap LP will be rewarded with higher ZMBE rewards. We will balance these rewards as needed to incentive a 75% ApeSwap / 25% PCS liquidity.
5 ) Some external arbitrage bots will probably starts soon after transactions between ApeSwap and PancakeSwap and help having a “balanced” $ZMBE price between both DEX. Please note that due to our users pairing/unpairing LP, it is possible for insufficient liquidity messages on both DEX until the process is smoothed out. Just be patient, the issues will be temporary.
Zombie Horde Steps (What YOU DO)
0) If you are NOT a current LP provider staked in our existing TOMB, you do not need to do anything.
1) Remove LP from PCS TOMB*.
*WARNING: Our early withdrawal fee and whale tax are hardcoded into the contract. Migrating to ApeSwap is a conscious chose by you (the user) and as such triggering the withdrawal fee or whale tax is a factor you need to weigh.
If you plan to move your LP to ApeSwap, we recommend calculating how much you desire to move beforehand and understanding the nature of the whale tax and early withdrawal fee.
2) Break CAKE-LP Pair by going to PancakeSwap.
3) Add APE-LP Pair by going to ApeSwap.
4) Deposit in new ApeSwap TOMB on rugzombie.io for some juicy yields!
5) Welcome to the Jungle!
What About All the Rest?
Migrating our LP will certain cause some fluctuations in our charts, it may take some of the regular charting tools some time to get accurate pricing, as they may not factor in both DEX pricing.
It will also certainly bring a lot of new users to our socials, so be friendly, and don’t break the cardinal rule of RugZombie: Be Cool and Zombie On.
Take Care while moving liquidity from PancakeSwap to ApeSwap:
Early Withdrawal Fee: Because our early withdrawal timer is hardcoded into our contract, moving any amount of LP out of either TOMB will result in a reset of the withdrawal fee timer. We recommend determining the amount you attempt to migrate before initiating the move. If your withdrawal timer is not yet finished counting down, it is your choice, but to avoid the fee, you will need to wait until the timer has concluded.
Whale Tax Fee: If you control more than 5% of the LP supply deposited in either TOMB, attempting to remove it will result in a hefty 8% whale tax. This tax is hardcoded in the contract. We recommend moving just under the 5% threshold if you intend to migrate, wait 3 days for your withdrawal timer to count down, and do this again. The choice is ultimately yours.
Know the Contract Risks : Apeswap uses a copy of PCS contracts and is audited but using smart contracts is always a risk.
Liquidity Issues : Same as using PCS pairs- RugZombie is a young project and our liquidity is still low and volatility is still high. But having liquidity in another place doesn't change this “risk”.
