As you may have heard, Metal has selected a new cryptocurrency custody platform that will allow for faster and more flexible growth on Metal Pay and Proton Wallet. Here are some common questions around the upcoming custodial system change across all of our products.
Q: When will this upgrade occur?
A: The upgrade will be completed no later than September 10th, 2021.
Q: What improvements can I expect from this upgrade?
A: You can expect a single, unified deposit address for ETH and ERC-20 assets, BSC cross-chain deposits for XPR, and improved withdrawal performance and fee calculation.
Q: Will I need to do anything?
A: Your funds will be unaffected. If you use crypto deposit addresses, you'll just need to generate new deposit addresses.
Q: How do I generate new crypto addresses?
A: It will vary slightly across Proton Wallet, Proton Swap Web, and Metal Pay, but you will be prompted to generate new deposit addresses in one tap or click.
Q: What if I send crypto to an old deposit address after September 10th?
A: Crypto sent to an old deposit address after September 10th will be subject to a lengthy recovery process with no expected turnaround time. Some deposits may be unable to be recovered.