<h2 id="header-0">Unlocking the Future with PAW Chain&#39;s Multi-Chain Migration</h2><h3 id="strong-paw-chain-s-1-goal-is-interoperability-strong">PAW Chain’s #1 Goal is Interoperability</h3>Addressing the fragmentation of blockchains. Enabling the fluid movement of assets through a central hub across multiple chains.<h3 id="strong-the-race-has-changed-strong">The Race Has Changed</h3>While 2021 was about striving to be a Layer 2 solution, 2024 has shifted focus to interoperability. Numerous developers are aiming to establish connectivity between multiple chains by deploying identical codebases across different blockchain platforms. We support this progression towards multi-chain dApps; however, we&#39;ve devised a more streamlined and cost-effective route for cross-chain exchanges.Other attempts at chain bridging involve mere replications of the same blockchain code on various chains. This does indeed facilitate interoperability between chains, but the approach is restrictive - you&#39;re limited to interacting with one chain at a time, and providing liquidity on alternate chains is a sluggish and often costly affair.After an in-depth evaluation of the challenge, we opted to tackle the interoperability dilemma from an alternate perspective. We&#39;ve constructed a bridge that grants access to a unified liquidity pool on our Layer 3 platform, usable from any chain, characterized by low expenses, rapid transaction capabilities, and secure bridging features. Our Layer 3 forges a direct connection between PAW Chain&#39;s liquidity and other chains, allowing a certain percentage to be allocated and utilized as liquidity for the respective chain. We provide interchain operability, signifying that our central hub concurrently interacts with multiple chains at minimal costs. This might appear as a subtle distinction, yet our solution stands out as uniquely tailored for scalability.<h3 id="strong-different-layers-and-how-they-work-strong">Different Layers and How They Work</h3>Layer 1 constitutes the foundational layer where users can establish dApps and construct their services. It&#39;s designed to rival other Layer 1 solutions, promising efficient and high-speed transactions at reduced costs.Layer 2 employs ZK rollups that typically go unnoticed by users as they operate behind the scenes.Layer 3 comprises our bespoke ledger system which operates outside the Ethereum Virtual Machine (EVM) framework. This means it isn&#39;t bound by EVM&#39;s constraints. Nonetheless, it&#39;s engineered to be EVM-compatible, enabling us to link with EVM chains and support quick, effective, and scalable cross-chain interoperability.<h3 id="strong-paw-chain-enables-a-new-frontier-the-migration-to-paw-coin-strong">PAW Chain Enables a New Frontier; The Migration to PAW Coin</h3>Like many other blockchains, such as BNB and TRON, they too started on the Ethereum blockchain as a token before launching and migrating to a Coin. PAW will follow in similar footsteps.Currently PAW only exists as PAWSWAP ($PAW) ERC-20 token on the Ethereum blockchain at Contract Address (CA): 0xDc63269eA166b70d4780b3A11F5C825C2b761B01Migrating to PAW Coin is a process we must follow, but most importantly, the value of PAW and the total supply of PAW that you hold, will not change due to this process. This migration process will be completely audited and overseen by Certik.Since an asset cannot exist on other chains without being deployed there, we have to deploy the contracts on those chains, and use our series of bridges to ensure the supply on those chains only ever gets unlocked if a corresponding token is bridged over. More on this below.Plainly stated and cemented in stone: PAW will exist as multiple contracts with the same CA in the future, but total available supply will always be 1 quadrillion.<h3 id="strong-on-paw-chain-strong">On PAW Chain:</h3>On PAW Chain, PAW will become PAW Coin, serving as the native asset of our Layer 1 blockchain, similar to the native assets on Ethereum, Solana, and others.PAW will further be represented as wPAW, mirroring the concept of wETH, but as a 1:1 wrapped version of PAW Coin. This approach ensures the total supply of PAW Coin (1 Quadrillion) remains unaffected.By adopting this model, PAW Coin will gain the flexibility to exist on various chains like Ethereum, Solana, Tron, and BNB as wPAW, maintaining identical value to the native PAW Coin.You might wonder about the mechanics behind this. For tokens to be present on these different chains, the original supply from the PAWSWAP ERC20 token must transition across chains via a bridge.‍How the supply starts:<img src="https://academy-public.coinmarketcap.com/optimized-uploads/995551b08a6649648c5e00c2ed418837.jpeg" />‍Example of how this could look like in 1 year :<img src="https://academy-public.coinmarketcap.com/optimized-uploads/5044ca010fe74460b5f00c5519c6f928.png" />By viewing the above tree diagrams, some might wonder about the distinction between Locked supply and Unlocked supply. Locked supply is the quantity that could potentially be transferred to that chain. Coins from the Locked supply are valueless until they are bridged or &#34;Unlocked&#34; on the chain of your preference. Unlocked supply indicates the portion of the supply currently bridged to that chain. The total Unlocked supply will never exceed the Max supply of 1 Quadrillion across all chains.Regarding the Contract being identical across all chains, how does that operate? A Token is fundamentally a Smart Contract containing specific data. The Total supply designated in the Contract is, and will always be, 1 quadrillion. A Smart Contract is confined to a single chain. For presence on multiple chains, the contract is merely duplicated onto each chain.Supply on additional chains starts within the bridge contracts, secured and poised for unlocking only if tokens from the original PAWSWAP ERC20 token are bridged over on a 1:1 ratio. The security of the bridge is upheld by the proof of stake consensus validators, along with thorough audits by CertiK and Hacken.<h3 id="strong-liquidity-migration-strong-em-at-the-launch-of-paw-erc20-liquidity-was-established-via-the-decentralized-exchange-34-shibaswap-34-em">Liquidity MigrationAt the launch of PAW (ERC20), liquidity was established via the decentralized exchange &#34;ShibaSwap&#34;.</h3>To facilitate this, 650T PAW and 3 ETH were utilized to form the liquidity pool. The liquidity provider, in return for supplying 650T PAW and 3 ETH, was allocated 44,158,804.33 LP tokens.These LP tokens act as a testament to the provision of liquidity, allowing the initial assets to be reclaimed in exchange for the LP tokens.Subsequently, the 44,158,804.33 LP tokens underwent a burn process, a common practice where tokens (be it any ERC20 token or LP token) are sent to a non-retrievable wallet.As a result of this action, it became impossible to withdraw the initially provided PAW and ETH from the ShibaSwap liquidity pool using conventional methods.The trading volume on this DEX has remained modest, posing limitations to our growth. Feedback from the community has highlighted a preference for relocation, further underscored by the initiative to shift liquidity provision to UNISWAP, given the stark contrast in trading volumes between the two DEXs.For the reasons outlined above, when PAW Chain Main-Net launches, the existing liquidity pool will be phased out in favor of a migration to PAW Coin and Wrapped PAW. The migration plan includes several key steps outlined below which will be audited and overseen by Certik:<ol><li>Migration Announcement: The migration date will be announced well in advance, allowing token holders to prepare. Those with tokens in liquidity pools (LP) will be advised to withdraw them. However, staked tokens should remain as such throughout the migration. A wallet snapshot will facilitate the transition of staked PAWSWAP ERC20 tokens to either PAW Coin on the PAW Chain or wPAW on alternative networks, with a 12% boost applied for eligible stakers once the main-net is live.</li><li>Unlocking PAWSWAP Tokens: A total of 192T PAWSWAP will be released from team finance locks and combined with the 36T PAWSWAP in the treasury multisig wallet, totaling 228T PAWSWAP tokens.</li><li>Creation of wPAW Contract: A new wPAW contract will mint 1 Quadrillion wPAW Tokens into the treasury multisig wallet on Ethereum.</li><li>Token Distribution and Bridging: Of the minted wPAW Tokens, 228T will be allocated for bridging at a 1:1 ratio, with 22.7T reserved in the treasury. This reserve reflects the PAWSWAP ERC20 tokens in the ShibaSwap Liquidity Pool at the time of drafting, subject to change at migration based on actual holdings.</li><li>Sale of PAWSWAP Tokens: The 228T PAWSWAP tokens will be sold into the ShibaSwap Liquidity Pool via a KYC-verified multisig process, extracting approximately 90.64% of the ETH from the PAW-ETH pool.</li><li>Snapshot and Whitelisting: A snapshot of PAWSWAP ERC20 holders will be taken for whitelisting, enabling them to bridge their tokens to PAWcoin or wPAW. This measure prevents post-event purchases from impacting the migration.</li><li>Liquidity Adjustment: The ETH withdrawn from the ShibaSwap pool will be paired with WPAW to preserve its pre-migration price, ensuring the PAW&#39;s value remains unaffected.</li><li>Bridge Opening: Users will then be able to bridge their PAWSWAP ERC20 tokens to PAW Coin or WPAW, completing the migration process.</li><li>Migration Completion: An official announcement will confirm the end of support for the PAWSWAP ERC20 token, marking it as defunct. Holders of PAWSWAP ERC20 tokens purchased before the migration will be guided to safely bridge their holdings, rendering the PAWSWAP ERC20 token valueless within the PAW Ecosystem.</li></ol><h2 id="header-1">Distribution of Reserves</h2>Note: Distribution of Reserves, to include Validator/Delegator and Treasury Income percentages, are subject to change based on development scope, architecture changes and updates.<h3 id="strong-228t-paw-strong">228T PAW:</h3><ul><li>30T for validator/delegator rewards.Estimated APR shared amongst Validator Pools below:</li></ul>10% APR with 300T Total Stake.15% APR with 200T Total Stake.30% APR with 100T Total Stake.<ul><li>20T for LP APR Boost. 2T designated for the first year per pool, starting with the below:</li><li>PAW/MATIC</li><li>PAW/ETH</li><li>PAW/BNB</li><li>PAW/AVAX</li><li>PAW/OP</li><li>PAW/Arbitrum</li><li>8T PAW left for other future pools.</li></ul>*Chains subject to change based on market analysis and strategy at time of mainnet deployment.<h3 id="strong-example-yield-strong">Example Yield:</h3>‍Assuming the price of PAW at 30m MCAP (60k USD) estimated APR Per Pool:12% APR with 500k Total LP in Pool.20% APR with 300k Total LP in Pool.60% APR with 100k Total LP in Pool.<ul><li>30T for Market Making liquidity on CEX.</li><li>40T for front-end integrations, collaborations, expansion. For example:Allocated for front-end enhancements, partnerships, and expansion, focusing on infrastructure improvements and collaborations with leading tech services for scalability and efficiency. This also includes exchange listings and initiatives for increased community engagement, aiming for comprehensive growth and enhanced user experience.</li><li>15T for marketing.</li><li>30T Development costs.</li><li>63T remaining for Staking rewards.</li><li>In the event accrued staking rewards do not exceed 63T, the remainder will be deposited into the Marketing and Treasury multisig wallets.</li></ul><h3 id="strong-treasury-income-strong">Treasury Income</h3>To support ongoing projects and fund the strategic growth of PAW, treasury income will be allocated as follows:<ul><li>25% Community Treasury (Buybacks, LP expansion, and DAO Proposals)</li><li>25% Development</li><li>25% Front-end management costs</li><li>25% Servers and Infrastructure (Validators)</li></ul>*subject to changes depending on development requirements.<h3 id="strong-the-updated-roadmap-strong">The Updated Roadmap!</h3>We have been working feverishly to document an intricate roadmap that our community can refer to. We are excited to share the following:Phase 01 - February 2024<ul><li>Complete PAW Chain V1 Beta Test-Net (L1, L2, L3).</li><li>Custom PAW Wallet V1 Beta Test-Net.</li><li>Custom PAW Scanner V1 Beta Test-Net.</li><li>Custom PAW Bridge V1 Beta Test-Net.</li></ul>Phase 01 Part 2 - March 2024<ul><li>Custom PAW Swap (L1-L3 Multi-Chain Liquidity Pools) V1 Beta.</li><li>Complete Validator setup V1 Beta.</li></ul>Phase 02 - May 2024<ul><li>Price &amp; Chart APIs V1 Beta.</li><li>Multichain PAW Swap (aggregation of non PAWSWAP LP across Multiple Chains) V1.</li><li>Phase 01 QA completed V2.0.</li><li>PAW Wallet usernames.</li><li>PAW Wallet (Browser Add-On).</li></ul>Phase 03 - July 2024<ul><li>PAW Wallet Mobile App V1 Beta.</li><li>PAW Point of Sales App V1 Beta.</li><li>PAW Pay (Send Crypto using mobile number) V1 Beta.</li><li>PAW Academy V1 Beta.</li></ul>Phase 04 - November 2024<ul><li>PAW Trade (Marketplace) V1 Beta.</li><li>PAW Club (VR Hangout &#43; Integrated Marketplace) V1 Beta.</li><li>PAW Academy V2.</li></ul>‍*Among our future innovations include a gaming platform designed to merge entertainment with blockchain technology, a collateral loan platform to provide financial flexibility, and a DeFi card for seamless transactions. Additionally, we are open to exploring other dApps. We will provide an ETA for these developments within our roadmap as progress unfolds and timelines are defined, ensuring our community is kept in the loop every step of the way.

PAW Chain's Strategic Growth: Launch and Future Plans

Table of Contents

PAW Chain

Other articles published on Aug 1, 2024

VC Roundup: Investments in Web3 startups top $1B in July

Coinbase Demands SEC Release Gary Gensler’s Private Emails in New Court Motion

RippleX and OpenEden Introduce Tokenized US T-Bills on XRPL

OnEquity Empowers Traders with Comprehensive Educational Hub

What’s Driving Fetch.ai’s Price Surge to $1.1632? Along with Key Insights on Upcoming Crypto Pres...

Ethereum ETFs Could Reach $10B AUM In First Year Of Trading, Says Sygnum Bank Researcher

Join our free newsletter for daily crypto updates!