NOTE: Meowshi is currently a deprecated product due to BentoBox strategies not being operational. It functionally will still work as xSushi, but there is no reason to convert into MEOW. This article remains for legacy purposes.
Meowshi is a smart contract built on top of Bentobox. It allows a user to deposit SUSHI and/or xSUSHI inside Bentobox in exchange for MEOW tokens. This means MEOW tokens are essentially a representation of xSUSHI tokens that are wrapped in the Bentobox. However, holding them gives the user an opportunity to earn extra yields from any Bentobox strategy that utilizes them (such as flash loans).
MEOW is considered an ERC20 token. Users can still trade it or send it to another wallet. However if the tokens get lost, the user loses the right to redeem their SUSHI/xSUSHI from the Meowshi contract.
A user's MEOW balance will not change but each MEOW token will be worth more SUSHI/xSUSHI over time when they are redeemed.
You can also refer to this Medium article from the team to learn more about Meowshi!
How To Get MEOW Tokens
Here are the steps to get some MEOW tokens against your SUSHI/xSUSHI:
Step 1: Head over to the Meowshi user interface (Only on the Ethereum Network). To access it from Sushi’s UI, click on the ‘Explore’ → ‘Meowshi’ buttons.
Step 2: Select SUSHI or xSUSHI and enter the amount you want to swap.
Step 3-1: If it’s the first time you’re interacting with Meowshi, then you’ll need to ’Approve the token first.
Step 3-2: Once approved, click on ‘Convert’, confirm the transaction in your wallet and wait for it to be mined.
Congratulations! You now have MEOW tokens in your wallet! If you don’t see them in your wallet, be sure to add it as a custom token. 😼
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