Important Updates: Full Transition to Base Chain

MaxxChain will be going through a significant transition as part of our continued mission to bring real-world asset (RWA) integration to our community. After careful assessment and extensive internal discussions, we have decided to shift our focus to wPWR on Base. This decision marks a new direction that we believe is better suited for realizing our goals.

The Decision to Migrate

The past year has shown both the challenges and potential of our vision for MaxxChain. Despite heavy efforts, we have faced several hurdles in aligning the chain’s growth with market demands, especially in sustaining the required trading volume on BitMart. This has led our partner XBTO to withdraw due to financial constraints, and ultimately, BitMart ending PWR trading. Although we aimed to drive momentum through RWA integration, the broader market’s interest in MaxxChain has not grown as anticipated.

Maintaining a Layer 1 blockchain requires significant resources, time, and funding, all of which have been committed to MaxxChain. However, with the necessary foundation already built on Base, we have determined that a dedicated Layer 1 chain is no longer essential to achieve our long-term vision.

Why Base?

Base provides the robust infrastructure needed for our mission without the added costs and challenges of maintaining an independent chain. Consolidating on Base will allow us to focus entirely on advancing wPWR as a bridge for RWA integration, maximizing benefits for our community.

Challenges and Considerations

MaxxChain has navigated various obstacles, from bad actors to the difficulty of protecting the chain’s integrity. Transitioning to Base reduces these risks and allows us to prioritize sustainable growth in a more secure environment. This decision has not been easy, given the efforts put into MaxxChain, but it is necessary to ensure a stable and focused path forward.

Migration Process and Community Support

To facilitate migration, we have taken several steps:

1. Community Migration: MaxxChain users should trade in their PWR and wPWR on MaxxChain in order to receive wPWR holdings on Base. Holders can transfer their PWR and wPWR on MaxxChain to the following wallet address: 0x2c713d1394125b555d74E4032b415eE946cEfC7F, and a 1:1 airdrop of wPWR on Base will be provided.
2. Compensation for Nexus and Extra Holders: Nexus and Extra holders need not take any action. PWR will be allocated to provide optimal compensation.
3. Transition Timeline: The MaxxChain network will remain operational to allow ample time for all holders to complete the move. Following the migration, we will develop a refined plan for wPWR on Base, with an emphasis on achieving our RWA goals.
4. On-Chain Project Migration: If you are still motivated to continue your projects, you are more than welcome to do so on Base chain while paired with wPWR. Contact the team to discuss further.

Future Commitment

The team remains committed to supporting the community through this new foundation on Base. This transition marks a pivotal moment, but our dedication to providing real-world value to wPWR holders continues. Through our RWA efforts, we aim to bring long-term benefits to those who have supported us, fostering a stronger, unified future.