Migration of DeGods to Ethereum: A Step-by-Step Guide for NFT Holders

On April 1st, it was reported that the Solana Ecological PFP project DeGods has opened its migration to the Ethereum network to DeGods NFT holders, and DeGods will pay the migration gas fee within the first 24 hours. DeGods will waive the DUST pledge/cancellation fee on ETH within the first 48 hours. In addition, the Paper Hands Bridge Tax will become effective from April 3. All remaining DeGods and y00ts on Solana will be updated with a mandatory royalty of 33.3%. T00bs will remain on Solana and receive a 3.33% royalty. DeGods on Ethereum will receive a royalty of 0.33%.

DeGods is open for migration to the Ethereum network, where DeGods will charge a royalty of 0.33%

Are you one of the proud owners of a DeGods NFT? Do you want to take advantage of the recent migration offer to Ethereum? In this article, we’ll guide you through the process step-by-step and explain everything you need to know about the migration, the fees, and the royalties.

The Migration Offer

On April 1st, the Solana Ecological PFP project DeGods announced that it would allow the migration of its NFTs to the Ethereum network. This is great news for DeGods NFT holders who want to diversify their portfolio or simply take advantage of the high liquidity and trading volume of Ethereum.
To sweeten the deal, DeGods offered to pay the migration gas fee for all NFT holders who migrate within the first 24 hours. This means that you won’t have to pay anything to move your NFT to Ethereum during this time window.
Furthermore, DeGods waived the DUST pledge/cancellation fee on ETH for the first 48 hours after the migration, which means that if you change your mind and want to go back to Solana, you won’t have to pay any penalty during this period.

How to Migrate Your DeGods NFT to Ethereum

Now that you know why you should migrate your DeGods NFT to Ethereum and what the migration offer entails, let’s dive into the process itself. Here’s a step-by-step guide:
1. Make sure you have an Ethereum wallet that supports ERC-721 tokens. You can use popular wallets such as MetaMask, MyEtherWallet, or Trust Wallet, among others.
2. Go to the DeGods website and connect your Solana wallet. You should see a screen with all your DeGods NFTs.
3. Select the NFT(s) you want to migrate and click on the “Migrate to ETH” button.
4. Follow the instructions on the screen and confirm the migration transaction in your Solana wallet.
5. Wait for the confirmation of the transaction on the Solana blockchain, which should take a few minutes.
6. Once the transaction is confirmed, go to your Ethereum wallet and check if your DeGods NFT has been transferred successfully. You should see it in your collection of ERC-721 tokens.
Congratulations! You’ve successfully migrated your DeGods NFT to Ethereum and joined a vibrant community of NFT collectors and traders.

The Paper Hands Bridge Tax and the Royalties

Before you migrate your DeGods NFT to Ethereum, you should be aware of two important changes that will affect all DeGods and y00ts on Solana:
1. The Paper Hands Bridge Tax will become effective from April 3. This means that if you sell your DeGods or yOots on the Solana blockchain after this date, you will have to pay a 50% tax on the sale price.
2. All remaining DeGods and y00ts on Solana will be updated with a mandatory royalty of 33.3%. This means that if you keep your NFTs on Solana, you will earn a royalty of 33.3% every time they are sold or transferred by someone else. This is a way to reward early supporters of the DeGods project and incentivize them to hold their NFTs.
Note that T00bs will remain on Solana and receive a lower royalty of 3.33%. DeGods on Ethereum will receive a royalty of 0.33%, which is lower than the Solana royalty but still a way to reward NFT holders who choose the Ethereum network.

Conclusion

In this article, we’ve explained the recent migration offer by DeGods to Ethereum and provided a step-by-step guide for NFT holders who want to take advantage of it. We’ve also highlighted two important changes that will affect all DeGods and y00ts on Solana: the Paper Hands Bridge Tax and the mandatory royalties.
We hope that this article has been helpful and that you feel confident to migrate your DeGods NFT to Ethereum or decide to keep it on Solana. Remember that this is a personal decision that depends on your investment strategy, risk tolerance, and long-term goals.

FAQs

1. Why should I migrate my DeGods NFT to Ethereum?
Migrating your DeGods NFT to Ethereum can offer several advantages, such as higher liquidity, trading volume, and exposure to a larger and more diverse community of NFT collectors and traders.
2. When should I migrate my DeGods NFT to Ethereum?
You should migrate your DeGods NFT to Ethereum during the first 24 hours after the migration offer, as DeGods will pay the migration gas fee during this time window. After that, you will have to pay the gas fee yourself.
3. What are the Paper Hands Bridge Tax and the mandatory royalties?
The Paper Hands Bridge Tax is a 50% tax on the sale price of DeGods and y00ts on Solana, effective from April 3. The mandatory royalties are a way to reward early supporters of the DeGods project and incentivize them to hold their NFTs. All remaining DeGods and y00ts on Solana will have a royalty of 33.3%, while T00bs will have a royalty of 3.33%.