Open Loot Payment System Migration

Summary:

As part of ongoing improvements, Open Loot is migrating to a new payment provider, which may cause temporary disruptions for about one day. During this time:

1-Old crypto deposit addresses will become invalid—you must generate a new one to avoid lost funds.

2-P2P transactions between users on different systems will be temporarily disabled.

3-Premium currency purchases remain unaffected.

4-The rental system will no longer support auto-renewals—all rentals will expire normally.

Users will receive email notifications before and after the migration. Please check your deposit address before sending crypto and stay updated via our Help Center or Discord.

As part of our commitment to continually improving the Open Loot platform, we are migrating to a new payment provider. This transition will introduce various improvements but will also result in temporary disruptions for approximately one day.

During this period, the platform will remain operational, but certain transactions and functionalities will be impacted. Notably, users who have previously generated crypto deposit addresses will need to regenerate them, as old addresses will become invalid after the migration. Below, we provide details about the expected changes, how they will affect users, and what to do if you encounter any issues.

What You Need to Know

1. Impact on Marketplace and Transactions

• Peer-to-Peer (P2P) Marketplace Transactions: Transactions between users on different payment providers (i.e., users still on the old system vs. those already migrated to the new provider) will be temporarily disabled. This is due to the rolling nature of the migration, during which users may be temporarily on different systems.
• Premium Currency Purchases: Purchases of premium currency will remain enabled and unaffected.
• User Balances: Your balance may appear temporarily unavailable for a few minutes while your individual migration is processed. Instead of showing an incorrect $0 balance, we will display dashes ("---") along with a tooltip message.
• Settlements: settlements will be delayed more than usual while the migration lasts.
• SWAPS: OL token Swap and Rippio Services will be temporarily suspended until we finish the migration

2. Changes to Crypto Deposit Addresses

If you have previously generated a crypto deposit address, please note:

• Your current deposit address will become invalid after migration.
• Any funds sent to the old address after migration will be permanently lost.
  • Note: It is always recommended to confirm the current deposit address within Open Loot before making any crypto transfer.

1. USDC Deposit Addresses:

   • New USDC deposits are supported, but only via the BASE network.
   • Users will now see their new USDC deposit address under the USDC section of the deposit screen.
   • Users must confirm their network (BASE only) and deposit to the correct new address.
   • Sending USDC to an old address or to a different network may result in permanent loss of funds.

2. Token Swap Addresses:

   • Users will need to generate new deposit addresses for token swaps powered by Rippio.
   • These new Rippio addresses will be supported during the migration.
   • However, the OL USDC Swap option will remain unavailable until the migration is fully completed.

Email Notifications:

1. Before Migration:
   • We will notify all users who have previously generated deposit addresses, informing them of the upcoming change.
2. After Migration:
   • Once the migration is complete, you will receive another email instructing you to generate a new deposit address.

Message on Deposit Page:

• A notification will be displayed on the deposit page to indicate that a new address is required.
• Additionally, a notification will appear for six months to inform users that old deposit addresses have been retired.

3. Rental System Updates

This migration will require us to make adjustments to the rental system:

• Renewals Disabled:
  • All rentals will now end at expiration, as auto-renewals are no longer supported.
  • The "Cancel Renewal" option will be removed from both the owner and renter dashboards.
  • "Renewal Date" will be renamed to "Expiration Date."

4. How to Stay Updated

We recommend staying informed through the following channels:

• Help Page (This Page): We will keep this article updated with the latest information.
• Discord: If any urgent updates arise during the migration, look for announcements in the official Open Loot Discord server.

5. Frequently Asked Questions (FAQ)

Q: Can I still make purchases during the migration? A: Yes, you can still purchase premium currency, but P2P transactions between users on different providers will be temporarily disabled.

Q: What happens to my rental agreements? A: Active rentals will continue as normal until expiration. Auto-renewals will no longer be supported, so all rentals will end at their scheduled expiration date.

Q: What should I do if my balance appears incorrect? A: Your balance may be temporarily unavailable while your account is migrated. Please wait a few minutes and refresh your page.

Q: What happens if I send funds to my old deposit address? A: Do not send funds to your old deposit address, as they will not be processed. Ensure you generate a new deposit address after migration.

We appreciate your patience and understanding as we complete this transition. If you experience any issues, please contact our support team for further assistance.