How to migrate Pancakeswap Liquidity from V2 to V3?
It is important to migrate liquidity from PancakeSwap V2 pools to V3 as soon as possible, because PancakeSwap V2 pools will likely be deprecated in the coming months. This means that liquidity on V2 pools will no longer be supported on the interface, this will make the interaction with liquidity contract harder, as it may require some additional skills to migrate your liquidity. By migrating liquidity to V3 pools, liquidity providers can ensure that their liquidity will continue to be utilized and that they will be able to earn trading fees in the future.
In addition, PancakeSwap V3 pools offer several benefits over V2 pools. These include the ability to create custom liquidity pools with custom fee structures, and improved capital efficiency. By creating and contributing to liquidity pools on V3, users can take advantage of these benefits and ensure that their liquidity is being used in the most efficient and effective way possible.
Overall, migrating liquidity from PancakeSwap V2 to V3 pools is an important step for liquidity providers who want to continue earning trading fees and contributing to the PancakeSwap ecosystem. By doing so, they can ensure that their liquidity is being utilized in the most effective way possible and that they are taking advantage of the latest features and capabilities of the PancakeSwap protocol.
How to migrate your liquidity?
In this step-by-step guide, you will learn how to migrate your SPACE-BNB Liquidity from PancakeSwap V2 to PancakeSwap V3.
1- Connect your wallet
you need to go to the liquidity removing page and connect your BNB Smart Chain wallet who contains your SPACE and BNB.
2- Remove V2 position
A- Set the amount to remove
Once your wallet is connected, you need to set the % amount that you want to remove, click on “Max” button to remove 100% of your V2 position.
B- Allow the contract
Now, you have to click on the “Enable” button to allow the liquidity contract to interact with your wallet.
Enabling will require to sign a transaction on your Web3 wallet, don’t worry, it is safe.
C- Complete the removal request
Finally, click on “Remove” and “Confirm” button.
You will see the details about the tokens that you will receive once the liquidity will be removed:
3- Add V3 liquidity
Now that your V2 liquidity is removed, your SPACE and BNB are back on your wallet, so you can start adding some liquidity to the PancakeSwap V3 pool!
You can now follow this tutorial to learn how to add liquidity to Pancakeswap V3 to finish the migration!
