Shiba Inu Unleashes Official LEASH v2 Migration Blueprint: Critical Intel for Holders and Liquidity Providers

Shiba Inu drops the migration playbook—LEASH v2 is go for launch.

Migration Mechanics Unpacked

Token holders face a decisive moment as Shiba Inu's team rolls out the definitive LEASH v2 transition strategy. The upgrade promises enhanced utility and tighter ecosystem integration—typical crypto promises that may or may not materialize.

Liquidity Providers: Action Required

LPs get front-row seats to the migration chaos. Manual steps await those providing liquidity—because in DeFi, nothing ever just works automatically. Prepare for the usual dance of unstaking, migrating, and re-staking while praying for no smart contract exploits.

Timeline and Expectations

The migration window opens with typical crypto urgency—act fast or risk getting rekt. Shiba Inu's team emphasizes seamless transition, though seamless in crypto usually means 'we hope nothing breaks.'

Another day, another token migration—because why build something stable when you can just rebrand and relaunch?

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Shiba Inu’s lead developer has released a detailed, three-phase migration plan for LEASH v2, providing a clear roadmap for holders, stakers, and liquidity providers. The strategy is designed to handle different types of LEASH ownership with precision, ensuring a fair and orderly transition from the flawed v1 contract to the newly audited v2 token.

Key Points

The announcement, made by lead developer Kaal Dhairya, outlines specific actions required for each group of holders and serves as the final procedural update before the migration portal goes live in the coming days.

The Principle of Fairness

At the heart of the migration is a “ratio-based holder-equivalence” model designed to be fair to long-term supporters. Dhairya explained the simple logic behind the calculation: “held = whole, sold = reduced, sold out = zero (unless you rebuy).” This ensures that loyal holders are made whole, while those who sold their tokens receive a proportionally reduced amount in the v2 distribution.

From The Shib: shiba inu Developer Unveils New LEASH v2 Migration Strategy

Phase 1: For Most Holders and Stakers

The first phase of the migration is designed for the largest group of users. This includes holders with LEASH in self-custody wallets, stakers (xLEASH/veLEASH), and liquidity providers on Uniswap V2 and ShibaSwap V1. 

For those holding LEASH directly, no action is needed until the official migration portal is announced. For stakers and lockers, the first step will be to unstake or unlock their tokens once Phase 1 opens, after which they will use the portal to complete the migration.

Phase 2: Special Instructions for Newer LPs

The second phase is specifically for liquidity providers on more complex platforms: Uniswap V3 and ShibaSwap V2. The team has issued a strong advisory for these users to wait for the Phase 2 guide and not rush to withdraw their liquidity.

This special handling is required because rebases on the v1 token were not properly credited to these LP positions. Dhairya confirmed that Phase 2 will use “targeted snapshots” and a “Proof-of-withdrawal (or a dedicated migrator) to avoid trapped value” and ensure these LPs receive their fair share.

Phase 3: For Bridge and L2 Users

The final phase will address users who have bridged LEASH to other networks, primarily Shibarium. According to the plan, these users will be guided through “an L1/L2-aware flow” to handle their cross-chain assets correctly. 

Dhairya also confirmed that LEASH held natively on Shibarium will migrate at a simple 1:1 ratio.

From The Shib: The LEASH Rebase Case: Hidden Exploit Sparks a Fight for Redemption

How to Stay Safe

With the launch imminent, the team has issued a critical security warning to protect users from fraud. “Use only official links we publish on shib.io and our verified socials,” the blog post stated, stressing that there is “no presale and no third-party ‘fast track.’” Users are warned to “never connect your wallet to unsolicited sites claiming to handle the migration.”

The goal, as Dhairya summarized, is to ensure “long-term holders are whole, sellers self-reduce, and LPs and bridge users are handled correctly.” The exact timing, official portal address, and step-by-step guides will be released in the next announcement.

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Yona has no crypto positions and does not hold any crypto assets. This article is provided for informational purposes only and should not be construed as financial advice. The Shib Daily is an official media and publication of the Shiba Inu cryptocurrency project. Readers are encouraged to conduct their own research and consult with a qualified financial adviser before making any investment decisions.