The NETA to cNETA conversion portal is now live. This article contains instructions on how to use the portal to ensure you can successfully convert your NETA to cNETA.

Introduction

Our portal is now live! Welcome to the official NETA → cNETA conversions article.

We recently launched our new look and website, and it is now time to begin the NETA conversions.

As a reminder, NETA tokens will be claimable for cNETA on a 1:1 basis, vested over 2 years, as voted on by the community.

There will be 14 days to use the portal starting today, and following that, the tokens will start to be available for claim on TosiDrop within 7 days.

If you do not use the portal during this 14-day period, we may not be able to submit your cNETA rewards to TosiDrop to claim.

NETA to cNETA Portal

How to use

To successfully use the portal, connect your Ergo wallet, either via Nautilus or ErgoPay, and then click the verify your wallet button. You will then be prompted to input your Cardano address. Please double-check that your Cardano address is correct.

From there, our database will collect the inputted Cardano addresses.

Your wallet is then successfully connected. You can update your Cardano wallet during this 14-day period if you so choose, but all information will be considered final on February 26th, 2024 at 4:00 PM UTC.

Nautilus and Terminus wallets are supported. Hardware wallets are not supported. If your NETA is in a hardware wallet, do not move your NETA to a new wallet, as the snapshot and rewards are already finalized. In this case, reach out to the team on Discord and we will handle those on a case-by-case basis, where the user will be prompted to send a random digit transaction to confirm ownership of a given wallet.

Use the portal here.

How it was calculated

We took 3 snapshots, one on December 17th, before the announcement of the proposal to focus on Cardano, one a few days after the final governance vote was confirmed on December 30th, 2023, and one at the beginning of January.

Generally, you’ll be allocated the amount of cNETA from the snapshot on the 17th. This would only not be the case if you had less NETA after the 2nd snapshot. In this case, you should expect to receive the lesser amount (or 0 cNETA if there was 0 NETA in that respective wallet). If you had the same amount of NETA during both snapshots, you’ll be allocated the same amount.

Conclusion

We are excited to release the NETA portal and begin the claiming of cNETA tokens. There are 14 days to register using the portal.

If there are any questions, please ask our moderators in the Discord and Telegram chats.

Thank you for your support in AnetaBTC as we look forward to the continued development of our V2 protocol.

Other ongoing development includes Staking V2, where cNETA holders will earn both protocol revenue and some of the community treasury. Exact details on this will be released in the coming weeks.