Why is my deposit address expiring?
In a nutshell, we’re upgrading. Your deposit address is expiring due to significant technological infrastructure improvements at Yield App. As part of this upgrade we are migrating to Fireblocks, an industry-leading digital asset service provider which will enhance our services and grow our offering.
This exciting development will enhance our service quality, and is part of our commitment to providing you with the best user experience. To learn more about what Fireblocks brings to Yield App, tune in next week for a deep dive into Fireblocks on our blog.
How does the upcoming change in deposit address affect me?
The upcoming change means your current deposit addresses for BTC, DAI, ETH, TUSD, USDC, USDT and YLD will cease to function after 2 October 2023 at 02:00:00 UTC.
To ensure uninterrupted deposits into your Yield App account, you will need to generate a new deposit address. We will notify you when it is safe to do this in order to prevent any disruptions to your transactions.
Do I have to do anything?
You don’t have to do anything until the actual expiration on 2 October 2023 at 02:00:00 UTC. Afterwards, you will need to create a new address for each asset to continue using Yield App without interruptions.
How can I generate a new deposit address?
After the changes on 2 October 2023 at 02:00:00 UTC, you will receive another email notifying you that the changes have been made. Only then can you create new deposit addresses by simply logging into your Yield App account, clicking "Deposit", and selecting the relevant asset.
Please be mindful that you will need to manually create a new address for each asset type before making a deposit.
Can I retrieve my funds if I accidentally send them to an expired address?
Yes! If you mistakenly deposit funds to an expired address, rest assured that your funds remain secure. Our dedicated support team is ready to help you retrieve your transferred funds.
However, fund recovery is a manual process conducted on a case-by-case basis and may take up to 30 days to complete. As such, we strongly advise updating your deposit address and directing all future transactions to this new address to avoid unnecessary delays.
PLEASE NOTE: Assets sent to the wrong deposit address or chain may or may not be recoverable and could incur additional fees depending on the recovery process. A minimum threshold of $500 USD value per asset must be met before Yield App will initiate a recovery of the asset.
Should you need assistance or have any further inquiries, please contact our support team at email@example.com.