Olympus and Polis Chain FAQs
With the switch to our own blockchain and the Olympus network, some people from the community have approached us with questions about the Polis Chain and the Olympus network. This article is intended to answer the most common questions for now and help you understand how the process works and how you can swap to the Polis Chain and the Olympus network when the time comes.
Q) What is the Olympus Network?
A) Olympus is a Smart Chain, a blockchain capable of running smart contracts, that is the new home of the Polis project. Olympus represents the project going back and sticking to its original vision, and a whole ecosystem of dapps and platforms has been designed so that
Q) I missed the auto migration. Did I loose my coins?
A) No, your coins are safe. You just need to wait for the bridge to move your coins freely between Olympus and Binance Smart Chain. The BSC ecosystem will continue to be supported, and coexist with the Olympus ecosystem.
Q) How can I migrate my coins into the chain?
A) The team is currently creating and testing a bridge that will allow you to move your coins between chains. At any point in time and in any direction you want (Polis Chain to Binance Smart Chain and vice versa). The bridge is expected in the second half of September 2021.
Q) Is staking working?
A) Staking on BSC has been disabled, in order to prepare for the new distribution of block rewards between both chains. Only Liquidity Pool providers on Binance Smart Chain are being rewarded at the moment, until the bridge is ready. When the bridge is ready, delegated staking on Olympus will start, so that everyone has equal opportunity to get started with staking.
Q) Where can I buy Polis?
A) You can purchase them right now in Pancakeswap and all of the current exchanges, just keep in mind none of them are native to the Olympus network, and if you want to stake on Olympus you will have to migrate them later when the bridge is available. You can also wait until Hadeswap, Olympus’ first Decentralized Exchange (DEX), is released by the end of September to exchange tokens in there.
Q) I want to be a validator on the Olympus Chain, can I start now?
A) Currently, it is not yet possible to set up or operate a validator on the Olympus network, since not everyone has migrated to the Polis Chain yet and no one should benefit from this. It should remain fair for all, therefore we wait for the completion of the bridges, in order to guarantee then all the same chance for the participation in the network.
We hope that we could answer all important questions for the time being. If you have any further questions, please post them on our Discord server. We will try to answer all your questions there and later create a full FAQ or documentation.