Igloos v2: Step-By-Step Migration Guide

The Igloos V2 are finally here and you can’t wait to migrate your LP to start earning those juicy triple rewards. After releasing deposits on Pangolin-based pools yesterday, today we’re happy to also be including your favorite pools from Trader Joe as well. Enjoy PEFI, iPEFI, and JOE rewards all within the comfort of your house.

The migration process will depend on the Igloo (LP pair) you are migrating, we will detail the exact steps you need to take below:

Important Links:

www.penguinfinance.org/farms

https://app.pangolin.exchange/#/pool

Follow these steps for the following LP tokens:

ETH/AVAX, PEFI/LINK, PEFI/DAI, PEFI/SUSHI

IF YOU ARE MIGRATING PEFI/PNG, PEFI/SNOB or PEFI/AVAX, refer to the section near the end of the article. For these 2 LP pools, you don’t need to convert only withdraw and deposit.

Step 1: Go to www.penguinfinance.org/farms and head over to the “Old (Igloos v1) section shown below:

Step 2: Select the pool you want to Migrate and click on the “Migrate” button.

All of your LP will be withdrawn with 0% fees and you can now convert it.

Step 3. Option A (Recommended). We’ve got a juicy trick for the sleekest of Penguins. During the migration process, old bridge tokens like the ones used for Igloos 1.0 are actually worth more than their new token equivalent.

Although the Avalanche Bridge will allow you to swap 1:1 ETH/ETH.e, you may be able to get an even better price if swapping on Pangolin.

You would first go to: https://app.pangolin.exchange/#/pool

Remove your LP, and check if the underlying tokens (ETH, DAI, USDC or SUSHI) are worth more than the new bridge tokens. If so, then trade your old bridge tokens for the new version (new Avalanche bridge tokens have a .e after their name. Example: LINK.e, ETH.e, DAI.e)

Once you swap (and earn a massive profit on your LP tokens), you can go back to add liquidity and create new LP tokens for the Igloos v2. These are the Igloos that will be featured from Day 1, many more will be added soon:

Step 3 — Option B: If your LP tokens are at a 1:1 value with the new bridge tokens or you prefer not to swap them as shown in Step 3, you can use the following tool:

  • *Note: If you acquired your old bridge tokens by swapping, it is recommended that you first check if you can swap directly for a free profit: SUSHI/SUSHI.e, ETH/ETH.e, DAI/DAI.e

IMPORTANT WARNING: You may actually make more profit if you follow Option A shown above this step! Only follow this step if there is no price difference between the old bridge token and the new one. For example if the ratio between LINK/LINK.e is 1/1.

https://app.pangolin.exchange/#/pool

Step 4: Stake in the Igloos v2 (Final Step for ETH/AVAX, PEFI/LINK, PEFI/DAI, PEFI/SUSHI)

Now that you have the correct form of LP you can stake:

  • ETH.e/AVAX
  • PEFI/LINK.e
  • PEFI/PNG
  • PEFI/AVAX

On the Igloos v2 page: https://penguinfinance.org/farms

If you have PEFI/SUSHI or PEFI/DAI, these Igloos will be added in the coming days. You can migrate to the PEFI/SUSHI.e and PEFI/DAI.e in preparation.

IF YOU HAVE PEFI/PNG, PEFI/SNOB, or PEFI/AVAX, follow these 3 steps:

Step 1: Go to www.penguinfinance.org/farms and head over to the “Old (Igloos v1) section shown below:

Step 2: Select the pool you want to Migrate and click on the “Migrate” button.

All of your LP and pending harvests will be withdrawn with 0% fees.

For PEFI/SNOB, the Igloo will be added in the coming week. You can hold onto your LP until then or convert your LP to a different Igloo.

Step 3: Go to the “New (V2)”

Click on Stake and deposit all of your existing LP for each pool.

You can now enjoy your comfy triple rewards while you sit back and relax!

Penguin Finance (PeFi) is an exciting new yield farming project on $AVAX.