diff --git a/content/learn/sip-03-migration.mdx b/content/learn/sip-03-migration.mdx index 7f1433c7..8e36eef2 100644 --- a/content/learn/sip-03-migration.mdx +++ b/content/learn/sip-03-migration.mdx @@ -75,6 +75,38 @@ Native USDC and Circle's CCTP V2 are now supported on Sei. USDC from Noble (USDC - Wind down and withdraw your positions **before** migrating to native USDC. Failure to do so before the SIP-3 upgrade may result in inability to access your supplied assets. +## Migration Process for Coinbase Prime Customers + +Once the termination & replacement agreement is signed and your destination address is confirmed, the migration will proceed as follows: + +### 1) FundsForwarder Deployment + +Sei Labs will deploy a dedicated FundsForwarder smart contract configured for your confirmed Coinbase Prime Sei EVM vault address. Our team will handle the deployment and cover all associated costs. + +### 2) Deposit Address Provided + +We will provide you with a dedicated Sei (Cosmos) deposit address (`sei1…`) associated with your FundsForwarder contract. Coinbase has temporarily unlocked your Cosmos position so you can withdraw. + +### 3) Transfer from Coinbase Prime + +You will initiate a standard Cosmos SEI transfer from Coinbase Prime to the provided `sei1…` deposit address. + +### 4) On-Chain Forwarding + +Once the funds arrive, Sei Labs will trigger the FundsForwarder contract to forward the full balance to your Coinbase Prime Sei EVM vault. + +We expect this step to complete within ~48 hours of receiving your deposit. + +### 5) Lockup Re-established + +After the funds arrive in the new EVM vault, Coinbase will re-establish the unlock schedule under the replacement agreement. + +### Important Security Features + +- The FundsForwarder is a **one-way contract** configured at deployment; funds can only be forwarded to your specified destination address and cannot be redirected. +- The contract accepts deposits via Cosmos `sei1…` transfers only, and the forwarding step sends the full balance to your `0x` destination. +- The FundsForwarder smart contract has been **audited by OtterSec** and has undergone internal security review. + ## FAQ ### I am a Keplr / Leap wallet user; do I need to do anything?