What occurred during the production REP token contract migration scheduled to begin at 11AM PST on August 9th?

This is an automatic migration, meaning REP token holders do not need to do anything. While there is not an exact timeframe of how long migration will take, the estimation is 8 to 10 hours, assuming there are no hiccups and all goes well.

What happens during the estimated 8 to 10 hour migration period?

  • Is there migration code that handles the new REP token contract being minted 1:1 to all REP token holders or will this handle some degree of manual intervention (for exchanges or other parties)?
  • What method was used to validate the 1:1 minting based on all REP token balances at the time of the migration?

The process used to migrate the legacy REP token balances was the following:

The new REP contract is halted until its totalSupply matched the totalSupply of the Legacy Rep Token. Once the final balance was updated it was automatically functional.

The migration script verified balances once finished, though it would require a bug in the contracts for this to possibly be wrong.

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