Are you passionate about supporting animal shelters and want a chance to earn rewards? By participating in Pawthereum’s governance, you can make a difference for animals and potentially earn money every month. Here’s how it works and how you can get involved.

Key Takeaways

1. Make Money Monthly: Participate in Pawthereum’s governance to get a shot at winning cash rewards every month.

2. Support Animal Shelters: Each month, Pawthereum donates yield from its Morpho vault funds. Half goes to a selected animal shelter, and the other half is awarded to a random voter who holds at least 50,000 PAWTH tokens.

How to Participate

Getting involved is simple and rewarding. Follow these steps:

1. Join the Pawthereum Telegram: Stay in the loop by joining the Pawthereum Telegram channel for announcements about upcoming votes and governance proposals.

2. Vote for Your Favorite Shelter: Cast your vote for the animal shelter you’d like to see receive the monthly donation. Your vote helps decide where half of the funds go.

3. Hold 50,000 PAWTH Tokens: To be eligible for the random cash reward (the other half of the donation), hold at least 50,000 PAWTH tokens in your wallet. Even if the shelter you voted for doesn’t win, you’re still in the running for the reward as long as you voted on the proposal.

When can I participate?

The first vote will take place at the end of June 2025. We expect the donation to be ~$250 USDC and the prize to be ~$250 USDC

Why Participate?

By joining Pawthereum’s governance, you’re not just supporting a great cause — you’re also giving yourself a chance to earn rewards every month. It’s a win-win: you help animals in need and could walk away with extra cash, all while being part of a vibrant community.

Ready to make a difference and earn rewards? Join the Pawthereum Telegram today, vote in the next governance proposal, and ensure you’re holding 50,000 PAWTH tokens to be eligible. Let’s support animals and grow the Pawthereum community together!

Hello Pawthereum community!

As we embrace a new chapter with on-chain governance, it’s essential to understand how our DAO voting system works. This system empowers you, our community members, to directly influence decisions about making donations to animal shelters. Here’s a step-by-step guide to get you started and effectively participate in our governance.

Step 1: Delegate Your Voting Power

Before you can vote on any proposals or create one, you must delegate your voting power. You have the flexibility to delegate your voting power to yourself or to another community member whom you trust to make informed decisions on behalf of the community. If you’re interested in becoming a delegate, set up your profile on Tally and start campaigning to accumulate more voting power. Delegating is crucial as it not only empowers you or your chosen delegate to vote on proposals but also to propose them. You can always update your delegations!

Known Issue: When delegating on Tally, the UI may say you are delegating zero tokens but you will actually be delegating your Pawthereum token balance!

Step 2: Understand the Proposal Threshold

To submit a proposal in the Pawthereum DAO, you need at least 1 million tokens of voting power. This threshold ensures that only those deeply invested in our community can suggest changes or initiatives. We plan to review and potentially lower this threshold in the future based on community feedback and voting outcomes. This threshold can only be changed through a DAO proposal.

Step 3: Pre-Voting Period

Once a proposal is made, there is a 3-day delay before actual voting begins. Use this time wisely because the voting power snapshot will not be taken until this period ends. You can use these three days to gather additional tokens or secure more delegations to be used in the vote. Once voting starts, voting power will be locked in and changes to your delegations or Pawthereum balance will not impact the vote.

Step 4: Voting Period and Mechanics

Voting on any proposal lasts for 7 days. During this period, your voting power is locked. Note that if the proposer’s voting power falls below 1 million tokens during the voting period, the proposal will be cancelled. This mechanism ensures that only those maintaining significant vested interest during the voting process can influence decisions.

Votes are casted onchain. Your vote can only be casted once and cannot be changed so be sure about your vote before casting it.

Step 5: Achieving Quorum

For a proposal to pass, it must meet a quorum of 10 million tokens. Only votes cast “For” or “Abstain” contribute towards this quorum — votes “Against” do not. We envision the community increasing this threshold to ensure broader consensus for passing proposals.

Voting Options

Proposals will have three voting options: “For,” “Against,” and “Abstain.” This system allows for clear expressions of support, opposition, and neutrality. If a proposal requires more nuanced choices, we can utilize Snapshot for a preliminary poll before moving to an on-chain vote for execution.

After a Proposal Passes

Once a proposal reaches the necessary quorum and surpasses the voting period, any transactions required by the proposal can be executed by anyone in the community. This process ensures that our actions remain decentralized and aligned with community governance.

Platforms for Voting

You can participate in voting either through our homegrown solution, PawSwap, available at PawSwap, or through Tally, which is familiar to many in the crypto space.

DAO Council Protection

As we begin our journey of onchain voting, the developer multisig has the power of a DAO Council. For now, all proposals must be blessed by the DAO Council before they can be executed onchain. This mechanism is designed to prevent malicious behavior through voting. We plan to remove this mechanism once the community demonstrates sufficient decentralization.

First Ever Onchain Governance Proposal!

There is a submitted proposal for our first onchain vote! We want to slowly roll this out with minimal funds until we get comfortable with this mechanism and so this donation is ~$100 of ether to Lovable Paws Rescue.

You have 3 days to delegate your tokens (if you want to vote yourself, you can delegate your tokens to yourself but you must delegate before the voting period begins if you want to take part!).

Vote on PawSwap or on Tally!

We encourage every one of you to actively participate in the governance of Pawthereum. If you would like to propose a donation to a shelter that is not yet onchain, the team at Pawthereum has experience with outreach, education and onboarding. There are direct connections with onchain donation solutions such as Impactify (with free sponsorships for the first year of onboarding), Endaoment and The Giving Block. Your vote counts, and together we can make a significant impact in the welfare of animals through thoughtful crypto donations. If you have any questions or need further assistance, please reach out in our community Telegram.

Thank you for being an integral part of Pawthereum’s journey towards a decentralized and transparent future in crypto philanthropy!

The PPV (Pawthereum Paws Vote) was not just about naming a room at the PAWS Wildlife Center; it was a test of engagement, interest, and the spirit of collective decision-making within the community.

The room, essential for providing tranquility to animals before their diagnosis, traditionally known as a holding room, is now set to carry a name chosen by the united voices of the Pawthereum and Base communities. Pawthereum distributed a special governance token to Warpcast channel followers of Base, alongside its existing community members, thereby granting them a voice in this pivotal decision.

Find out more about the new center with the following link:

PAWS Wildlife Center - PAWS

VOTING

Pawthereum Paws Vote (PPV) tokens were airdropped to 149,205 wallets where the voting Power was split between different holders in the following ways:

Pawthereum Holders: 50% of voting power (191,983 tokens each)

Base Farcaster Followers: 37.5% of voting power (3,090 tokens each)

Toshi & Mochi Holders: 12.5% of voting power (4,975 tokens each)

1,894 individual wallets voted and the absolute majority (+70%) decided that a name as simple as Pawthereum Holding Room would be the pawth to go.

We are delighted to have a Pawthereum branded room in one of the biggest wildlife centers in the U.S. It’s planned to be open in the next few months and we plan on sending one of our community members to join its opening ceremony!

AIRDROP

We are thrilled to announce that the long-awaited Airdrop is finally here. We want to assure you that there is no action required on your part as we will be sending the Airdrop directly to your wallet. Your safety is our top priority, if someone is asking you to claim this airdrop by signing a transaction it is a scam.

We set aside 3M Pawth tokens for this airdrop and that split between 1,894 voters makes it 1,584 tokens per each wallet. They have now been airdropped to your wallets. Thank you for participating in this vote!

Your newly airdropped Pawthereum tokens have utility! Use them to create proposals that control the Pawthereum treasury — write up a reason to donate to a shelter and have other Pawtherians use their tokens to vote for or against your proposal! Passed proposals can be executed directly on chain. These features are coming soon so keep an eye out for future announcements!

We want to express our deepest appreciation to all our community members for their continuous support and engagement. Your involvement and dedication have been instrumental in the success of these initiatives, and we are truly grateful for your ongoing enthusiasm. Thank you for being a part of the Pawthereum community.

Stay tuned for more exciting updates and opportunities coming your way!

PAWS Vote AirDrop was originally published in Pawthereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

THANK YOU FOR ASSISTING IN THE MIGRATION

We asked our community to help us with the migration to get as much liquidity out from ETH and boy did you deliver:

In the end The Migration Wallet received over 320 million tokens from 114 individual wallets. That’s more than 41% of the circulating supply, with a value of over $935,000. That makes it the biggest holder of Pawthereum Tokens.

This is an amazing reflection of the communities trust towards $PAWTH as a project and us as the team. It’s a huge step with us being able to take the absolute majority of the LP out from ETH and put it in the new Based Pawth. That’s Pawsome!

In the end we got almost ALL of the liquidity out of Uniswap (but not 100% since majority of it was locked but with our creative plan of collecting the tokens from the community and then selling them all at once) and supplied it to the new smart contract.

Then there was also the liquidity in Pancakeswap (BNB) but it was 100% unlocked. The LP is still standing in the old BNB dev wallet and we are deciding between adding it to the Uniswap LP, but most likely will create another pool in Sushi or Aerodrome to have the possibility of arbitrage added.

PAWTH LAUNCH ON BASE + RELAUNCH

We launched the contract on Base but we noticed an issue with it. The token had a transaction fee as intended but unfortunately, it took it only when buying the token. This is not ideal by any means, and if it would have been for sells we might have been able to compromise.

We have only 2 options.

1. Either we keep this immutable smart contract and have it working in a non-ideal way
2. We relaunch the token

We decided that option number 2 was the only real solution. For that to happen we had to do it in a way that anyone outside the team wouldn’t be aware of to mitigate the risks of any “gaming”. This process was much more simple than the first one since it doesn’t need us to do anything else but the following steps:

Here is the new smart contract:

0x875ee70143fca7d78e03ee6b13a2b0d68be4af0c

The smart contract has a maximum fee of 2% where wouldn’t ever be able to increase it, only to lower it. So as an example if we go through a vote in the future to decrease the total fee to 1% it can never after that be more than 1%.

PAWTH IS NOW BASED

We kept the transaction fee as same as in the ETH network which had the largest liquidity pool.

The tasks we have now done:

• Update Dexscreener and Dextools
• Added a temporary buy bot to the tg channel

The tasks to be done in the following days:

• Update CMC and Coingecko and other Data aggregators
• Update the whitepaper, website and other information
• Add the PawthBot in our tg channel
• Calculate the exact amounts in the charity wallet and all of the remaining wallets

Sincerely,

The Pawthereum Core Team

Pawth to Base: Done was originally published in Pawthereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

THE MIGRATION WALLET:

We asked our community to help us with the migration to get as much liquidity out from ETH and boy did you deliver:

Over 278 million tokens were sent to The Migration Wallet from 107 individual wallets which is almost 36% of the circulating supply (on the ETH chain) making it the biggest holder with a value of almost $800k. This is an amazing reflection of the communities trust towards $PAWTH as a project and us as the team. It’s a huge step with us being able to take the absolute majority of the LP out from ETH and put it in the new Based Pawth. That’s Pawsome!

TIMELINE FOR TURNING THE TOKENS IN HAS NOW ENDED

Please do not send any more tokens to that wallet, since you will not be rewarded for it. If you accidentally do, you will of course get an equal amount of tokens of Pawth tokens sent to you without the reward added to it (before the snapshot happens in 2 days)

We have a dedicated web page where you can get all of the latest information regarding this migration with the countdown timer of when the actual process is set to take place. Please check it out at:

https://pawthereum.com/base/

Just 2 more days to go #PawthToBase

Sincerely,

The Pawthereum Core Team

A SMALL UPDATE

We asked our community to help us with the migration to get as much liquidity out from ETH and boy did you deliver:

Over 126 million tokens were sent to The Migration Wallet from 54 individual wallets which is almost 15% of the circulating supply making it the 2nd biggest holder after the dead wallet with a value of almost $350k. This is an amazing reflection of the communities trust towards $PAWTH as a project and us as the team. It’s a huge step with us being able to take the absolute majority of the LP out from ETH and put it in the new Based Pawth. That’s Pawsome!

Now. We have created a dedicated web page where you can get all of the latest information regarding this migration with the countdown timer of when the actual process is set to take place. Please check it out at:

https://pawthereum.com/base/

Sincerely,

The Pawthereum Core Team

Pawth to Base: Migration Ongoing was originally published in Pawthereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

Backstory

The community has voted (with over 97% approval) to migrate from ETH and BNB chains to Base, an L2 chain developed and maintained by Coinbase.

Read more about the vote here:
https://vote.pawthereum.com/#/proposal/0xc19f4895f248a344d8bd761d477a17ee00c78f74ce7810f69edcb8a1551efe22

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:

0xAd2F9B8D630787362E87Ba1369d79BADF85f740c

Copy that address and PLEASE double-check that it is correct when you are making the transaction.

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.

In summary:

1. Turn your tokens in (Open until April 18th at 4pm UTC)
2. Snapshot
3. LP DRAIN
4. Launching the new smart contract
5. Airdrop everyone with the Based Pawth tokens (Steps 2, 3, 4 and 5 should all happen within 48 hours after Step 1)
6. 2nd Airdrop rewarding those who turned their tokens in and those who voted on PAWS 2 weeks after launching on Base

So if you didn’t get the hints from the previous messages, let us be perfectly clear:

Pawthereum will be migrating to Base on:

APRIL 20th 2024

#FollowThePawth #wen420

Pawth to Base: Migration Starting was originally published in Pawthereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

We have a couple of great announcements to make regarding the 2 votes we had up and running side by side.

The PPV vote this past week was not just about naming a room at the PAWS Wildlife Center; it was a test of engagement, interest, and the spirit of collective decision-making within the community.

The room, essential for providing tranquility to animals before their diagnosis, traditionally known as a holding room, is now set to carry a name chosen by the united voices of the Pawthereum and Base communities. Pawthereum distributed a special governance token to active followers of Base, alongside its existing community members, thereby granting them a voice in this pivotal decision.

Find out more about the new center with the following link:

PAWS Wildlife Center - PAWS

VOTING

Pawthereum Paws Vote (PPV) tokens were airdropped to 149,205 wallets where the voting Power was split between different holders in the following ways:

Pawthereum Holders: 50% of voting power (191,983 tokens each)

Base Farcaster Followers: 37.5% of voting power (3,090 tokens each)

Toshi & Mochi Holders: 12.5% of voting power (4,975 tokens each)

1,894 individual wallets voted and the absolute majority (+70%) decided that a name as simple as Pawthereum Holding Room would be the pawth to go.

Read more about the vote here: https://pawswap.net/vote/paws

We are delighted to have a Pawthereum branded room in one of the biggest wildlife centers in the U.S. It’s planned to be open in the next few months and we plan on sending one of our community members to join its opening ceremony!

MIGRATION

This is the moment we have all been waiting for.

The vote for a complete migration to a new chain is now done. We are extremely happy to see how the community sees the value in this proposal with over 97% voting in favor of migration:

Read more about the vote here: https://vote.pawthereum.com/#/proposal/0xc19f4895f248a344d8bd761d477a17ee00c78f74ce7810f69edcb8a1551efe22

The single biggest action in Pawthereum history since it launched 10.10.2021 is: A complete migration to a rapidly growing chain, taking with us the community of like minded individuals, the history of donations, and the brand of Pawthereum with the name and logo. Everything else will be brand new. No more bridging to different chains because of high gas fees. No more confusion from aggregators switching between different charts. No longer having our hands tied regarding decentralization because of the slow and expensive transactions on the ETH L1 chain. But a fresh start in a great new chain with lots of potential, backed by one of the biggest and most legitimate entities in crypto.

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

So what’s next?

There are lots of things that we as a team need to do in order to make this happen. Some of these tasks include:

• Finishing our work on a new whitepaper
• Updating the website
• Creating new multi-sig wallets on Base
• Contacting data aggregators such as CoinGecko and CMC with the official news that we will be migrating
• Finalizing our plan to get as much of the LP out with the help of the community
• Finishing up the new smart contract for Base

As mentioned this is the biggest thing that has happened with Pawth since its inception so we need to be absolutely certain that things happen exactly the way they should. This means a minimum of 2 weeks, but it could be around 3 weeks, give or take, when everything is completed and we officially launch on Base. We understand the desire to get this done as quickly as possible, and that is our goal, but the most important thing is the migration happens correctly, especially considering the permanent nature of making moves in web3.

What do you need to do?

Sit back and relax. We are working in the background to expedite this migration and plan on updating everyone soon with more specifics. But if you believe in this project, and if you trust the team there is a way where you can help this migration to be as successful as possible and get rewarded by doing so. Stay tuned to learn what this means.

We are so excited for this new and exciting move and can’t wait for our upcoming launch on Base in the near future!

Pawth to Base & PAWS Room Vote was originally published in Pawthereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

In an exciting fusion of philanthropy and blockchain innovation, Pawthereum, the cryptocurrency platform beloved by animal enthusiasts, recently embarked on a heartwarming mission to engage its community in a unique way. Following a donation of $100,000 in Ethereum to the Progressive Animal Welfare Society (PAWS) on November 21st, 2021, for their new Wildlife Facility, Pawthereum took a step further to solidify its commitment to animal welfare and community involvement.

Pawthereum’s latest venture involved an innovative airdrop campaign, aiming to deepen its roots within the community and explore potential horizons on Base. This initiative was not just about naming a room at the PAWS Wildlife Center; it was a test of engagement, interest, and the spirit of collective decision-making within the community.

The room, essential for providing tranquility to animals before their diagnosis, traditionally known as a holding room, is now set to carry a name chosen by the united voices of the Pawthereum and Base communities. Pawthereum distributed a special governance token to active followers of Base, alongside its existing community members, thereby granting them a voice in this pivotal decision.

The Airdrop

The airdrop targeted followers of Base on Farcaster. These people are at the forefront of what Base is building and Pawthereum couldn’t be happier to include them in this vote! Holders of Toshi and Mochi, the leading cat tokens on the Base network, also received this governance token as a gesture of inclusion. Meanwhile, steadfast Pawthereum holders received 50% of the voting power, acknowledging their ongoing support and dedication to the cause.

This strategic airdrop not only facilitated a community-driven approach to naming the PAWS Wildlife Center room but also served as a beacon of awareness for Pawthereum’s mission and accomplishments. By opening up its governance process to a broader audience, Pawthereum has not only celebrated its history of support for animal welfare but also ignited interest in potential governance participation on Base.

Snapshots were taken on Saturday, March 9th.

Pawthereum Holders: 50% of voting power (191,983 tokens each)

Base Farcaster Followers: 37.5% of voting power (3,090 tokens each)

Toshi & Mochi Holders: 12.5% of voting power (4,975 tokens each)

You could have received multiple airdrops if you met multiple criteria.

Go here to vote: https://pawswap.net/vote/paws

Reflecting on the campaign’s success, Pawthereum is proud to have woven together the threads of community, technology, and compassion into a tapestry of collective action for animal welfare. This initiative marks a significant milestone in Pawthereum’s journey, demonstrating the power of blockchain technology as a force for good in the world.

As the community awaits the announcement of the chosen name for the room, Pawthereum continues to champion the cause of animals through innovative and inclusive means. This airdrop campaign is a testament to the strength of the Pawthereum community and its unwavering commitment to making a difference in the lives of animals everywhere.

For more detailed information on Pawthereum’s initiatives and to stay updated on future developments, visit Pawthereum’s website and explore the story behind the donation at the official announcement.

About Pawthereum

Pawthereum is more than a cryptocurrency; it’s a movement. Dedicated to improving the lives of animals across the globe through blockchain technology, Pawthereum funds initiatives and organizations committed to animal welfare. Emphasizing transparency, community engagement, and the transformative potential of technology, Pawthereum is paving the way toward a brighter future for animals and their advocates alike.

Airdrop Campaign for Wildlife Center Room Naming Initiative was originally published in Pawthereum on Medium, where people are continuing the conversation by highlighting and responding to this story.

1. The relevant historical context in terms of which blockchain the project was built on, the hurdles that the project now faces as a result of the network, and the thought process behind migration
2. The core of the proposal — what a yes vote on migration would mean, in simple terms

Part 1

Historical Context

When the project was in the planning stages in 2021, the debate was moreso should the project launch on Ethereum or a cheaper layer 1 alternative, with the flavor-of-the-month option at the time being Binance Smart Chain. Between the two it was never really a contest in terms of which blockchain was superior, except for the major issue of sky-high gas fees on Ethereum. While some in the community may have advocated for BSC, part of the thought process for ultimately launching on Ethereum was that the future outlook was positive in terms of potential updates to drastically reduce gas fees.

At around the same time in 2021, Ethereum layer 2s were beginning to officially launch. At the time it was not clear exactly how important a role these would play. If Ethereum had been able to solve the scaling issues independently, clearly the future would have been significantly limited for L2s. This was simply a complete unknown at the time, and so L2s weren’t seriously considered as an option.

While Ethereum remains the vastly superior network in just about every metric when compared with something like BSC, a seriously drastic gas fee reduction on mainnet ETH seems like it may never materialize. In fact, the vision of what a scaled Ethereum network looks like has shifted quite a bit since 2021. Layer 2s now look to be the current and future solution to scalability when it comes to everyday transactions and we indeed believe the future of Ethereum is projects living on L2s. The question then is which L2. We believe Coinbase’s Base network is the best bet. Why? In short, it has the backing of Coinbase and thus a support structure to make it a long-term success; Unlike other L2s, it still uses ETH and has no plan to issue its own token, making the name Pawthereum continue to make sense; Coinbase is putting great effort into making on-ramping and off-ramping as easy as possible, which could be a huge advantage over other L2s.

Current Hurdles / Thought Process for Migration

There are quite a few positives to Ethereum, especially considering its ecosystem as a whole. All things considered, I personally would not change the decision to launch on Ethereum in 2021. However, with the future looking so bright for L2s, and with the challenges created by years of high gas prices mounting, we appear to be at an inflection point: Stay on Ethereum despite high gas prices (potentially hoping they are drastically reduced at some point in time) or migrate to Base.

The current hurdles on mainnet ETH, and what we will likely continue to face for the foreseeable future if we stay, can be summarized as the following.

High gas, causing severe limitations, including:

• Inability to (practically) develop certain features and applications resulting in missing out on potential engagement, interest, and project growth
• Inability to put the project on a path toward decentralization resulting in less growth, weakened sustainability, and negative impact in achieving long term goals
• Negative impact in general in terms of attracting a high volume of users

These can all be fixed by moving to a low-fee network, which is what is being proposed with the migration to Base.

There are also advantages to migration unrelated to gas fees. These generally include:

• Fully upgrading / updating the new contract with the latest and greatest standards that have become available in the several years since the original contract was developed
• The ability to dramatically improve our situation in terms of funds that are available for development/marketing/listings (more on the mechanics of this below)
• The opportunity to reach an entirely new audience and grow on Base, a blockchain which rewards projects who create utility and value on-chain

Downsides of migration include:

• Loss of chart history may occur, but the extent of what this means depends on the 3rd-party charting service in question and exactly how they track migrations
• The challenge of transferring all liquidity, which will require coordination for the locked portion

If you haven’t already, and you would like more details in terms of pros and cons from the core team’s perspective, you can read the previous article discussing the topic of migration here.

Part 2: Core Proposal

Considering the above context, including: the detrimental impact of high gas fees on our project, the lack of a clear solution in sight to fix the gas fee problem on mainnet Ethereum, the emergence of L2s as a clear scaling solution, and the advantages and opportunity created by migration, it is proposed that Pawthereum migrates to the Base network and begins taking the necessary steps to complete that process as soon as a yes vote passes.

In simple terms, voting yes to migrate means you agree with the following:

• Creation of a new Pawthereum (PAWTH) token smart contract on the Base network
• Transferring liquidity from the current liquidity pools to a new pool created for the new PAWTH token on Uniswap — the initial price will be set to roughly what it was the moment before liquidity was sold
• The liquidity transfer process would include the core team redeeming the unlocked LP tokens (held by the multi-sig dev wallet) for the underlying PAWTH and ETH/BNB. The PAWTH will be sold in the current liquidity pools, and ultimately all ETH (BNB will be converted to ETH) extracted from this process will be bridged to Base and used for the new liquidity pool
• A snapshot of holders will be taken after the unlocked liquidity is sold. Everyone on this snapshot will receive the new token 1:1 to their holdings (i.e., if you hold 1M PAWTH during the snapshot, you will be airdropped 1M PAWTH on Base to your wallet address). This includes both ETH and BSC holders
• An optional hand in period will be set if/when this vote passes, to last around 3 weeks. All tokens received as part of this process will be sold in the current liquidity pools to extract the maximum amount of locked liquidity as possible in order to best position the new token for success. Instructions and a hard deadline will be provided if/when this proposal passes
• After the deadline passes for the hand in period, the new Pawthereum token will launch on Base and holders will receive their tokens via airdrop based on the above referenced snapshot
• Those who participated in the hand in process will receive an additional reward — staking tokens that will earn them additional Base PAWTH — and may be eligible for future rewards for the crucial role they will play in making this migration as successful as possible
• Once the new token is launched, and all holders are airdropped 1:1, ~14% of the 1B supply will be “unowned” as they had been “burned” on the PAWTH ETH contract. With the new PAWTH BASE token, we will need to make a decision as a community on how to allocate these tokens. Considering the crucial need to fund project operations in order to add value to the project as a whole, and as part of this proposal, with a yes vote for migration it will be agreed that those tokens (~14% of the supply) will be allocated for development/marketing/listing costs to be held and secured in the multi-sig dev wallet for those purposes

Voting Instructions and Deadline

Vote here in Snapshot to have your voice heard on this pivotal proposal: https://snapshot.org/#/pawthereum.eth/proposal/0xc19f4895f248a344d8bd761d477a17ee00c78f74ce7810f69edcb8a1551efe22

The deadline for this vote is Saturday, March 23rd at noon ET (5 pm UTC).

A huge shoutout to everyone who participated in the discussions. We started talking about this idea as a community in late January. We’ve had much thorough discussion to lead us to this point and we should be proud as a community for ensuring this crucial part of the decision making process is honored.

Pawthereum is, and will always be, a community-driven project. All votes are important, but this could be a pivotal point in the future of the project, so have your voice heard by voting.

Proposal to Migrate to Base Blockchain was originally published in Pawthereum on Medium, where people are continuing the conversation by highlighting and responding to this story.