Proposal to initiate the Migration of stkATOM(ERC-20) from Ethereum to the Persistence Core-1 chain

After the initial discussion of the Migration of stkATOM(ERC-20) from Ethereum to the Persistence Core-1 chain on the pSTAKE Forum, the pSTAKE team proposes that the Migration go ahead with a Migration Tool. We appreciate the feedback from all pSTAKE community members and validators.

As part of the proposed Migration, all stkATOM(ERC-20) will be unbonded & corresponding stkATOM will be minted on the Persistence chain after a 21-day unbonding period.

The Migration tool overcomes UX hurdles with a single-click, seamless cross-chain Migration. All stkATOM(ERC-20) holders will be able to claim stkATOM on their Persistence address directly without losing out on any staking rewards. The Migration tool will also aid in deprecating stkATOM(ERC-20) over time.

The proposed timeline for the Migration is attached as a separate image (assuming the proposal passes).

The link to the forum discussion can be found below.

Vote 'FOR' if you agree with the proposed Migration Vote 'AGAINST' if you disagree with the proposed Migration Vote 'Abstain' if you would like to not participate in this proposal