One of the major obstacles for Pawthereum holders, as we all know, is the high gas fees on the Ethereum network. Because of this and other reasons we put out a proposal of Pawthereum migrating from ETH and BNB to Base. The community voted with an overwhelming majority of 97% in favor of this decision:
Some of the advantages we will have on Base compared to other chains:
Backed by a legit entity (Coinbase)
Built on an open source stack (OP) which is decentralized and has a plan to be more decentralized over time
It still uses ETH and has no plan to use its own token
It’s putting in resources to on/offboard people to/from Base which equals ease of use and a funnel of potential users
The support Base has for developers is currently unmatched by any other network/chain
MIGRATION STEPS FOR THE COMMUNITY
First, we need as many people as possible to turn their tokens in because even though a large chunk of the tokens are unlocked in ETH, much of the liquidity is still locked. And for $PAWTH to get as much of the LP out from Uniswap, we need help from you, the community. Not only will this help everyone by setting the project up for success, you will get an extra reward for assisting in this process.
If you are a BNB holder, DO NOT send us your tokens. The BNB LP is 100% unlocked. We do not need BNB holders to send in those tokens and only ETH holders are eligible for the rewards for helping transfer the locked liquidity in Uniswap. If you hold on BNB, just sit tight and you will receive your tokens via the airdrop without needing to take any action.
For ETH holders: everyone who has the ETH version of the token and turns those tokens in WILL get 10,000 tokens + 1% more of the new Based Pawth tokens airdropped to their wallet.
We came up with this number because we wanted to reward everyone who helps $PAWTH out in the fairest way. If it were only a percentage of the amount of tokens you hold, it might be best for those who hold a large number of tokens, but for a smaller PAWTHER there might not be an incentive to go through with the transaction (especially considering the ETH gas fees). At the same time, if it were only a static number of tokens, it would be unfair to those who have supported the project through thick and thin by accumulating a large stake: Tigers, Lions and Sabertooths. We set up multiple different scenarios and got to the balanced number of 1% + 10,000 tokens.
If you want to help Pawthereum while being rewarded for doing so then please send your tokens to the ETH multi-signature migration wallet:
That wallet is a completely new multi-signature wallet created by us for this special purpose. Its only use will be to collect the turned tokens in as it makes it much easier for us to track and calculate the amount to be rewarded while at the same time, the community can be sure that their funds are SAFU since everyone on the core team are owners of that wallet. This wallet requires at least 4 team members to sign any and every transaction for it to go through.
SEND YOUR TOKENS BEFORE APRIL 18th 2024 at 4PM UTC
48 hours after this deadline passes, we will take a snapshot of everyone’s wallet and then liquidate the LP in Uniswap.
Then we will deploy the new smart contract on Base and transfer the funds into the new LP. After that, we will airdrop EVERY PAWTH HOLDER with the new token.
The second airdrop with the extra reward for those who turned their tokens in and those who voted on PAWS will happen after we have made sure all of our calculations are correct. This airdrop should take place within 2 weeks of the new token launching.
THE PROCESS
Step 1: Turn your tokens in Open until April 18th at 4pm UTC
Step 2: Snapshot We take a snapshot (recording the state of all of the wallets at that exact time) to know how many tokens are to be sent to which addresses.
Step 3: LP DRAIN We take out the LP from all of the pools in ETH and BNB chains
Step 4: Launching the new smart contract We launch the new contract to Base
Step 5: Putting the Liquidity in the new pool We put in liquidity to Uniswap Base pool
Step 6: 1st Airdrop Airdrop everyone with the Based Pawth tokens. Steps 2-6 should all happen within 48 hours after Step 1
Step 7: 2nd Airdrop Airdrop rewarding those who turned their tokens in and those who voted on PAWS 2 weeks after launching on Base
