Circles 2.0 Migrating balances

[louilinn]

There are 3 viable options:

• A) migrating all balances/trust in bulk
  • risks/advantages: "admin" having ability to change things on behalf of user, if there is not time period defined when admin can't do this.
  • would it help to simplify the system if we didn't deploy the whole snapshot, or are these users useful for transitive transfers. We suspects it a HUGE number.
  • risk: this doesn't stop token minting from v1, doens't burn - confusing / still used.
    • why it is bad if v1 still exists? potential to introduce bugs, unknowns: are there social effects of it still existing? confusion?
      - expensive in gas
      - what if we don't finish in the migration window (we need a deadline for the admin to mint user tokens - it should be temporary)
• B) migrate with user interaction.
  Meaning to mint all of the historical (total amount of) UBI tokens of a single user when they migrate and transfer it as the users holding those tokens in the old system migrate.
  - risks/advantages: only partial network is migrated at a time, balances and trust network change and confuse the user
  - question= is it significantly better to clean up the network? (we suspect yes, but has to be researched)
• C) not migarting old balances and starting over
  - risk - users stop using circles

Things to keep in mind:

• should old V1 tokens be burnt? Not fully possible in all solutions
• is it impotant to keep the same balance in migration?
• is it important to keep the complete web of trust of inactive accounts
• how to communicate the migration - are some options harder to communicate?