Written by Logan Smith

On September 22, 2021

Proton Has Completed Our Custody Platform Migration – Action Required

Proton has completed the migration to our new cryptocurrency custody platform.  This change allows for faster and more flexible growth on the Proton blockchain. This change has important implications for all users, please read the details below.

WHAT THIS MEANS FOR YOU:
If you have an existing Proton deposit address generated for the Bitcoin, Ethereum (ETH and supported ERC-20 tokens), Binance Smart Chain, Litecoin, Bitcoin Cash, or EOS blockchains on Bridge at Proton Swap or within the Proton wallet, they must be migrated as soon as possible, and before October 15, 2021.

On October 16, 2021, any new deposits made to the legacy Proton deposit addresses for the Bitcoin, Ethereum (ETH and supported ERC-20 tokens), Binance Smart Chain, Litecoin, Bitcoin Cash, or EOS blockchains will no longer be received into your Proton wallet.  Sending tokens to any of the legacy Proton deposit addresses after October 15, 2021 will result in loss of those tokens.

All tokens received to these legacy Proton deposit addresses prior to October 16th will remain in your wallet and are unaffected by this migration.

WHAT YOU NEED TO DO:
Between now and October 15th, 2021, you will need to migrate your legacy Proton deposit address via the Bridge on Proton Swap or from within the Proton wallet application. To do this, simply access the Bridge on the Proton Swap site (https://protonswap.com/bridge/), and login to your proton account.  You will be walked through the Proton deposit address migration process.  We have also released new versions of the Proton wallet for iOS (via the AppStore) and Android (via Google Play).  Simply download the update and login, you will be walked through the Proton deposit address migration process.  It only takes a few moments to complete the migration process, so please complete it as soon as possible.

More context:
Our migration of cryptocurrency custody platforms will allow a number of often requested Proton features, including a common deposit addresses for coins that are issued on the same mainnet, such as Ethereum-based ERC-20 tokens and Binance Smart Chain-based BEP-20 tokens, along with select tokens such as XPR and USDC that will support sending and receiving via multiple mainnets.  This migration also allows us to offer new xToken wrapped cryptocurrencies that were previously unavailable on the Proton blockchain, while laying the groundwork for additional mainnet integrations in the near future.

We understand that this migration may be an inconvenience for you, but we’re taking this action with the best interest of our users in mind. We believe that making this shift now will provide you with a better experience in the future, and we think you will agree after experiencing the updates we have planned in the future.

We would like to remind users who have whitelisted their legacy Proton deposit addresses on other platforms or have added them to address books, to please update these lists as soon as possible to eliminate the possibility of using a legacy Proton deposit address in the future.

As always, our Support Team is standing by ready to help with any questions you may have. Please feel free to email them at support@protonchain.com to get quick answers to all of your questions.

– Your Friends at Proton

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