MoneyButton Closure

MoneyButton will be discontinuing their services as of June 26, 2023

You asked, we listened ๐Ÿ”ฅ๐Ÿ”ฅ๐Ÿ”ฅ There is now a feature on to transfer liquidity stakes, profit deductions and open positions from your MoneyButton wallet to another connected DXS account:

Please note that liquidity refunds will be temporarily locked for a duration of 30 days following the transfer date. Trading positions will not be transferred immediately and will appear in approximately 5 days.

Original post below:

From MoneyButtonโ€™s recent announcement:

Beginning June 26, 2023, all MoneyButton wallet and button functionality will be shut down. Over the next two weeks, you can use MoneyButton as usual. However, on June 26, logging into MoneyButton will only allow you to download your mnemonics so that you can access your funds, tokens and NFTs with another wallet provider.

Donโ€™t panic! You can be assured that:

  1. Your money is safe!

  2. Any payments you receive in the future are fully retrievable!

All you need to do is copy your seed phrase and keep it safe:

How do I import my MoneyButton wallet into another wallet provider?

  1. Download Simply Cash

  2. Select โ€˜recover walletโ€™ if this is your first time using Simply Cash

  3. Click the top left icon if you already have a Simply Cash wallet

  4. Click โ€˜Create/recover walletโ€™

  5. Enter your seed phrase in the Mnemonics field

  6. Enter m/44'/0'/0' in the derivation path field

  7. Click โ€˜OKโ€™

Simply Cash will scan the blockchain and add all your UTXOs to your balance (please note that this may take some time).

Now you effectively have two views into the same wallet, one via Simply Cash and one via MoneyButton. You can continue sending / receiving payments using Simply Cash.

What if I am a DXS liquidity provider via MoneyButton?

All you need to do is copy your seed phrase and keep it safe!

At any point, either now or in the future, you can import your wallet into another wallet provider (like Simply Cash above).

In the meantime:

  1. Your money is safe!

  2. Your liquidity provider payments will continue to be sent daily to your former MoneyButton wallet addresses. These amounts are fully retrievable and spendable via Simply Cash!

If you wish to withdraw your liquidity stake at a future date (after MoneyButton has ceases operations), you can request via the DXS support chat and the DXS team will process this manually for you.

What if I have open positions on DXS via MoneyButton?

The Open Liquidity Protocol (OLP) requires a signature from the user's wallet to validly close any position. Unfortunately, once MoneyButton ceases operations, MoneyButton users will no longer be able to login to DXS or sign transactions.

Due to this, DXS will force close all Money Button positions on June 25, 2023.

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