Retrospective · $U1 migration

$U1 Migration: Solana to Base.

The token now lives where the platform lives. The conversion window is closed and the migration is complete. $U1 lives entirely on Base.

Migration complete

Why, how, where

The story in three steps

A short plain-English account of the move from Solana to Base, and where things stand today.

01
Why it happened
Umbrae's entire platform (the DLMM, the SAGE AI engine, the rewards mechanism, the proprietary arbitrage bot) runs on Base. A token sitting on a separate chain created friction between holders and the platform they hold a stake in. The right move was to bring the token home.
02
How it worked
In April 2026 we announced a one-for-one chain migration: every $U1 on Solana would convert to exactly one $U1 on Base. Same fixed supply of 5,000,000. No ratio changes, no dilution, no bridging protocol: Ignis ran the conversion directly. The window opened to all holders at the same time, with no tiered access and no waitlist.
03
Where we are now
The migration is complete and the conversion window is closed. $U1 lives entirely on Base as a fixed-supply ERC-20. Locking is live on the Umbrae platform, and five percent of platform fees belong to locked holders, distributed weekly once reward distributions begin. Not every holder crossed in time: the conditions were published and time-bound, and even so, we lost more holders than we needed to. That lesson now shapes how we design every sensitive mechanic going forward.

Every step done

01April 2026 · Public announcementThe chain-migration plan and the protocol-owned-liquidity model are published in a public PDF (linked at the bottom of this page).Done
02April 2026 · Conversion opensOne-for-one conversion from Solana $U1 to Base $U1 opens for every holder at the same time. No tiered access, no waitlist.Done
03April 2026 · $U1 / WETH pool live on BaseThe two-tier protocol-owned liquidity pool ships. The active tier is paired with WETH and permanently locked; the reserve tier can only move into the active tier.Done
04April 2026 · Locking liveHolders can lock $U1 on the Umbrae platform to become eligible for a weekly share of 5% of platform fees, proportional to their share of locked supply, once reward distributions begin.Done
05Mid-2026 · Conversion window closedThe Solana-to-Base conversion window has closed and all migrating supply has crossed. $U1 now lives entirely on Base. Not every holder acted within the documented window, and the lessons from that now shape how every sensitive mechanic is designed.Done

In plain English

The four mechanics that make the migration and the locked-pool model work, in plain English.

Conversion: One-for-one. Every Solana $U1 converts to exactly one Base $U1. No ratio changes. No dilution. No bridging protocol: the conversion is run directly, not through a third-party contract.
Supply: Fixed at 5,000,000 $U1. No inflation. No additional minting. The cap on Base matches the cap on Solana. This is a chain move, not a redesign.
Liquidity: A two-tier protocol-owned pool against WETH. The active tier is permanently locked; the reserve tier is held in a contract whose only function is to deposit into the active tier. The pool can only grow.
Rewards: Five percent of platform fees belong to locked $U1 holders, proportional to share of total locked supply, distributed weekly once reward distributions begin. Lock for the full week to qualify; unlock mid-week and that week is forfeited.

The public record

The migration was first announced in April 2026. The original PDF is preserved here as the time-stamped public record.