Guide: Migrating from Mars V1 to V2 on Neutron

Mars has been upgraded to Mars V2 on Neutron. Thus, if you borrowed or loaned assets within the Red Bank, you’ll need to manually migrate your Red Bank positions to Mars v2.

It involves two major components:
1. Repaying Debt
2. Withdrawing Asset

These steps will help you with the same:

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Repaying Debt

Step 1: Visit the Mars v1 dApp Website: https://neutron.marsprotocol.io/v1
Step 2: Select the Neutron chain from the top right corner (or Osmosis, if your assets are on Osmosis)

Step 3: Select a borrowed asset to repay. For example, ATOM.

Step 4: Click on Manage and you will get an option to Repay:

Step 5: Select the Amount to Repay

You can either type the exact amount to repay or use the percentage bar to determine the amount. Once selected click on Repay.

Step 6: Approve the transaction in your wallet

Step 7: Congrats! You've repaid your debt to the Red Bank.

Now that you have repaid your debt, you can withdraw your collateral assets.

Withdrawing Assets

Step 1: Visit the Mars v1 dApp Website: https://neutron.marsprotocol.io/v1
Step 2: Select the Neutron chain from the top right corner

Step 3: Select a deposited asset to withdraw. For example, NTRN.

Step 4: Click on Manage and you will get an option to withdraw:

Step 5: Select Amount to Withdraw
You can either type the exact amount to withdraw or use the percentage bar to determine the amount.

Step 6: Approve the transaction in your wallet:

Step 5: Congrats! You've withdrawn assets from the Red Bank.

Migrating to V2

Now that you have withdrawn your assets you can deposit them in Mars V2 on Neutron and deposit them into a credit account and enjoy features like Spot and Margin Trading, and Lending and Borrowing on Mars V2. With the upcoming upgrades, you can witness features like LPs, HLS, and Perps.

Important note: Only deposits on Mars v2 are eligible for the Droplets campaign.
If you've already deposited $dATOM into Mars v1, please ensure you migrate your funds to Mars v2 to become eligible.

The following steps will help you get started:
Step 1: Change the outpost from Neutron Mars V1 to Neutron Mars V2 by clicking on the top right corner.

Step 2: Connect Your Wallet after agreeing to the terms and conditions.

Step 3:  Fund Your Credit Account

Step 4: Select the asset you want to fund with.

Step 5: Select the amount. You can also turn on the “Lend asset to earn yield” option.

Congratulations! You have funded your credit account. You can now trade, lend, and borrow on Mars V2.

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