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Astroport, a Tera-based AMM that offers non-custodial and decentralized liquidity, has witnessed an exclusive development. As per its recent announcement on X, the platform has effectively migrated staking and governance from the open-source blockchain forum Terra to Neutron. It noted in its post that the respective development denotes the momentous move of the earliest transaction of this type.
Today marks a groundbreaking moment in the Cosmos ecosystem: Astroport has successfully migrated its governance and staking hub from Terra to Neutron. This historic achievement represents the first-ever transfer of a protocol’s governance hub from one blockchain to another within… pic.twitter.com/Fjd0CuFrn0
— Astroport ✦ (@astroport_fi) April 12, 2024
Astroport’s Latest Migration Enables Staking and Governance on Neutron
As per the company, this initiative highlights an exclusive epoch of interchain collaboration and functionality. Astroport also disclosed the details of this development. In this respect, it revealed that xASTRO and ASTRO tokens have switched to the standard of TokenFactory. Hence, the name of ASTRO has been changed to ASTRO.cw20 while xASTRO.cw20 is the new name of xASTRO.
The clients can utilize the staking and governance operations on Neutron. For this purpose, they can convert the tokens on the swap pages of Astroport. The platform added that it has not created any liquidity pools across the chains. As a result of these changes, this is a noteworthy thing for ASTO stakers and holders. They can take particular actions to guarantee a matchless shift to the latest tools and standards.
The holders can convert the tokens on any chain other than Osmosis. For Osmosis users, there is a requirement to initially bridge the tokens to the supported chains for swap. The stakers need to unstake the tokens to convert them. For restaking, they require accessing the bridge page to migrate the tokens to Neutron.
The Platform to Unveil vxASTRO on Neutron
The liquidity providers can withdraw tokens by removing the liquidity from the already working pools. They can swap by converting the tokens. To again provide liquidity they have to include the latest tokens to the exclusive on-chain ASTRO pools. After the migration, the company intends to unveil vxASTRO on Neutron.