As we continue to enhance the Magic Eden Wallet experience, we are making some important updates. To streamline our services, we will be temporarily removing BRC-20 support from Magic Eden Wallet on May 31, 2024. This article provides all the details you need to know about this change, including timelines and instructions for affected users.
Why are we sunsetting BRC-20 support?
The decision to sunset BRC-20 support is motivated by our commitment to providing a seamless and scalable experience for our users. By refocusing our resources, we can better support the features and services that are most valuable to our community. This strategic move will help us enhance our infrastructure and improve overall wallet performance.
Timeline for sunsetting BRC-20 support
May 24: Notice of the change was announced across Magic Eden Wallet major channels.
May 31st: Reminder will be sent out across Magic Eden Wallet major channels.
June 7th: The product will be officially removed at 5pm PST by our engineering team.
Key changes
Users will no longer be able to view BRC-20 tokens in their wallet.
In-wallet balances will no longer include BRC-20 token values.
Important user information
Here are some key points for our wallet users to consider:
Notification period: We are providing an advance notice period to ensure users are informed and can take necessary actions.
Transfer your BRC-20 tokens: Users are encouraged to transfer their BRC-20 tokens to other compatible wallets before May 31, 2024. Testing has confirmed that transfers to wallets like Unisat is currently functional.
Support and assistance: If you experience issues or need help with transferring your BRC-20 tokens, our support team is available to assist you.
In this transition period, if users send BRC20 tokens out of our wallet or back into the Magic Eden wallet, it will function. However, it may take some time to load the assets due to our indexing process. Please be patient.
How to transfer your BRC-20 tokens
To transfer your BRC-20 tokens to other compatible wallets, please follow these steps:
Access your wallet: Open the Magic Eden Wallet app and navigate to the Crypto tab.
Select your token: Locate the BRC-20 token you wish to send within your wallet.
Initiate transfer: Click on the token to select it, then find and click the "Send" button.
Enter recipient address: Input the recipient's wallet address. Ensure it's a wallet that supports BRC-20 tokens.
Specify amount: Enter the amount of BRC-20 tokens you want to send to the recipient. We recommend you select the maximum amount.
Optional - Set priority fee: Depending on your preference and urgency, you may choose to set a priority fee for the Bitcoin network.
Confirmation: Review the details of your transaction carefully. Once satisfied, click the pink "Continue" button to proceed.
Finalize transaction: Confirm the transaction with the “Send” button to initiate the transfer of your BRC-20 tokens.
What happens if you don't transfer your BRC-20 tokens before May 31?
Rest assured, your ownership remains unchanged! Your BRC-20 tokens will still be safely stored in your wallet. Even if you miss the transfer deadline, you'll retain full access and ownership. While they won't be visible in your Magic Eden Wallet after May 31, you can still manage them using another compatible wallet. Remember, it's self-custody, so you always have control over your assets.
If you wish to continue managing your BRC-20 tokens, you can utilize your recovery phrase to import your wallet into compatible apps like Unisat, which supports BRC-20 tokens. For detailed instructions on how to backup your recovery phrase, please follow this guide: Safeguarding Your Digital Assets with the 12-Word Secret Recovery Phrase
We appreciate your understanding and cooperation as we make these changes to improve the Magic Eden Wallet experience. Our commitment to providing a robust and user-friendly platform remains our top priority.
If you have any questions or need further assistance, feel free to reach out to our support team by clicking on the chat widget.