For those having an error when attempting to migrate your meld tokens on the Meld Dapp, I have a solution.
22 May 2023, 00:03
For those having an error when attempting to migrate your meld tokens on the Meld Dapp, I have a solution.
The solution is to make a UTXO that contains 5 ADA and send it to the address. This can be done using a wallet other than the meld wallet, or you can also send 5 ADA to yourself within the Meld Wallet as well.
The problem is caused by the need to interact with a smart contract on Cardano. All Spends and Mints from a smart contract require a UTXO with some ADA (5 ADA) to be available as a collateral UTXO in case on chain validation fails after the transaction is submitted (this can happen if the UTXO was consumed, but a node operator still had to spend computational resources).
This UTXO must be separate from the UTXO that you are consuming your meld tokens from.
Problem flow:
User sends 15 ADA and 1k MELD from their personal wallet to their meld wallet to their Meld wallet.
Even though the user has 15 ADA, that 15 ADA is in one UTXO with the 1k Meld tokens. Because there is not a separate UTXO for collateral, the transaction is failing to create.
Once you send 5 ADA to your Meld wallet address, this should be resolved, since now there is a separate UTXO to act as collateral.